Business
Short seller J Capital slams Nearmap’s US business – The Australian Financial Review
J Capital says Nearmap’s US business is badly struggling as losses mount and rival Eagleview offers a better product.
The key thing is the tech Nearmap is using for their camera system is no longer the best, J Capital founder Tim Murray told The Australian Financial Review. Their key competitor in the US, Eagleview has a better camera system.
J Capital which has previously issued short reports against software player Wisetech Global, said it has not valued Nearmap, but that in its view, losses are widening in the US as Nearmaps main competitor is taking market share on a more cost-effective basis.
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