Should Digitalist Group have its own discussion as well?
Here’s a recent CEO interview.
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What do you think yourself? Could you elaborate on this a bit more in the opening post? And why should an investor be interested in this?
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The owner list includes a rather large investor, Erkki Sinkko, with 350,000 shares.
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I’ve been keeping an eye on Digitalist for quite some time now. It feels like a perpetual underperformer with a brilliant future behind it. As I understand it, it has needed many capital injections over the years to stay operational.
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Tolvanen created such a phenomenon during Twitter’s golden age that it’s a shame that hype didn’t get to live through this era of SPACs and dreams. The maneuver to go public also seemed to break ranks a bit in its execution.
The vibe was truly amazing though. 
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I forgot to link the previous one; it’s about financing arrangements, even though it’s a Satu link 
Let’s hope they act ‘for the good cause’ here.
https://www.inderes.fi/fi/tiedotteet/digitalist-group-jarjestelee-rahoitustaan-6
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And the fresh Owner list
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Nice, Satu, that you’re updating! Thanks.
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It’s nice to update.
https://digitalist.global/fi/article/mimmit-koodaa-itsensa-toihin/
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That amateurish blog page certainly gives a somewhat bad impression of the company. Why is half the page just whitespace? 
Fixing that didn’t even require any remarkable Javascript skills. Of course, readability could have been improved by leaving some empty space at the edges. Maybe the ladies could code a better blog page for Digitalist next?
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An interesting observation, namely that 4Capes is also on the list, which is also the 5th largest owner in Enedo. Many seem to have a investment strategy of acquiring penny stocks from many different companies.
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At one point, I bought into Ixonos when it was a penny stock, and there was some hope that losses would decrease. However, the share price kept falling. I added a bit more when Tolvanen sold Digitalist to Ixonos, as I believed the company would turn around. Revenue gradually started to grow, etc., but losses continued, and the main owners annually pumped 4-5 million euros into the cash register to keep the company from going bankrupt. At this point, I divested and sold my shares at a clear 40% loss. After that, I haven’t touched the stock, not even during the January rallies. The press releases and website pretty much tell you everything about the company. The introductory texts of the quarterly reports are the same every year, repeating the same old nonsense about what Digitalist brings here and there. The operational network is far too extensive, and design and other forms of styling don’t seem to leave anything on the bottom line.
After looking at Digitalist’s latest quarterly report for the first time in a while, I realized that nothing has changed. Revenue has taken a steep dive, and they are still operating at a loss. The Ehnroots are pumping more money into the company. I don’t know if there are some tax-related reasons why they want to keep this outfit going. Similarly, the Sjöbloms are very actively buying and selling between different months. Well, this is my rant on the matter.
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Have you been following these recruitments? Are positions filled or are they just looking for new ones?
We’ll surely hear about the CEO selection soon.
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Hopefully they will talk about growth.
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I’ve now looked into Digitalist a bit more closely than I did a month ago. So, the core of their business is developing customer experience. Their clients seem to be big companies: Finnair, Spotify, Volvo… But as stated in their financial report, a weakness is that many assignments are short-term.
Sinko indeed has 350,000 shares, and as of July 31st, Nordea has increased its ownership somewhat.
The story certainly seems good, but I just wonder why there hasn’t been any profit during these years? What could be the trigger that would make them a “Tecnotree”? I haven’t figured it out yet. Other companies, like Alma and Avidly, also have similar business goals - comprehensive business development and innovation for clients.
I still need to think about whether to get involved in this. I also started with Tecnotree at similar levels 2 years ago, but there were already good news behind it, which supported the decision to become an owner.
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I don’t know if it’s worth comparing it to Tecnotree, except for the historical stock price. Digitalist’s business doesn’t scale, there are still too many offices even in Finland, and all in all, design and customer experience development are probably not the IT sectors with pricing power. For example, Digitalist is responsible for Kauppalehti’s customer experience and surveys. The surveys have been quite rigid in structure and contained many typos. In addition, the company does not in any way provide breakdowns of revenues or profitability by country. For example, with Vincit, it’s quite easy to follow the development in California, as it’s reported separately. All in all, the Ehnroots are keeping the company afloat. Growth has not materialized for years, and previous growth was purely inorganic, with companies being acquired through share swaps. For its part, the continuous change in management speaks to the company’s difficult situation.
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