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SEEK RATIONALE (What do they want (Successful investor comms (Avoid death…

- - - - 'Everywhere in the world there is a B2B winner' doesn't mean that you couldn't have an amazing B2C cash-spitting business (hypothetically)
      - They would never have bought Catho from Tiger if they didn't think that B2C makes sense
- - - - But this is relevant enough to bring him halfway around the world
    - - This is the biggest asset she has in her structure
      - I think Tennealle should be the primary stakeholder to consider once we've spoken to Isar
  - - - B2C cash flow great in the short term
    - - Mike mentioned repeatedly how he likes it that Zhaopin is growing fast "without putting its foot down on monetization"
- - - - They trust he understands how things work outside of Brazil (no B2C focus)
      - Potential to build in-group positive bias due to shared context
    - - Relatively easy to make the case that they are at least as qualified as Catho's current team
      - Easy to communicate to investors
    - - Yes, experience (4 years). Even now, Thuler has been in the recruiting industry for only 5 years!!!
  - - - Unless Catho shrinks to a very small size...
      - ...or undergoes drastic and abrupt transformations, which can be traumatic.
- - - - Kodak, Hilton
- - - - Army of phone operators doing prospection
      - Low-salary AEs due to pricing of product
        
        They can't afford to burn cash at that stage
      - Regional reach of small guerilla events (no large events)
      - Existing sales model, methodology and processes
    - - Thuler mentioned having well over a million company signups
      - Can we attribute the poor conversion on...?
        
        Low quality of candidates?
        
        Low quality of product/curation?
        
        Not "in-demand" niches?
        
        Shitty brand?
    - - Every single company in Brazil must have heard of them as a job boards
      - However, I am unsure that 10% of companies know they have paid solutions (we are talking about millions of companies)
    - - Apart from Fernando (sucked in by B2C now)
        
        We should have coffee with Fernando
      - Direct reports of Fernando
        
        Beatriz as Finance
        
        Thais as marketing
        
        Bianca as Sales
        
        Not really a manager, but a great salesperson
  - - - Will not want to meddle with it
    - - According to Mike, SUBSCRIBER CHURN > NEW SUBSCRIBERS for the past two years
  - - - A talent pool model that is proven here could be taken to other parts of the world using their platform
      - We haven't been using it so far because of cap table reasons (and unit economics until recently)
    - - Cares about growth, we shouldn't be fooled by cashflow as is build into share price
      - Probably less thrilled about LatAm than about any other part of the world
- - - - Go after the more "knowledgey" part of their business (from the top to the bottom and not the other way around)
  - - - We can expand our existing sales + expansions within knowledge workers by leveraging Catho's leads
      - Unclear how deeply we can explore their existing company relationships without clashing with the 'shitty brand' argument
    - - History of company activity
      - Matching data (a lot more valuable the way we price things)
  - - - We have a different story to tell non-Seek investors.
      - Could be made to sound bolder and more investable
    - - We will have way more resources to pursue expensive initiatives and capture the B2B HRtech software market
        
        Revelo+
        
        Pymetrics
        
        ATS
        
        Teams
        
        Career Expansions
        
        South America
    - - If it is, we would have additional
        cash streams to fund current operations
- - - - Thuler
      - Fernando