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FGL - FRUGL GROUP LIMITED


bunyip2

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On July 3rd, 2020, Family Insights Group Limited (FAM) changed its name and ASX code to Frugl Group Limited (FGL).

 

Frugl aggregates grocery data in real time to provide shoppers with up-to-date specials, product and pricing information to find the lowest grocery prices across Australia's leading supermarkets.

 

Frugl helps Australian consumers find healthier options through customisable health profiles and delivering nutritional alerts, allergen alerts and more.

The collation of product, pricing and real time consumer behavioural data enables deep analysis of shopping trends and the creation of detailed intelligence for retailers and suppliers.

Since backing into another company and gaining an ASX listing mid 2020, FGL has bounced along around 3c up to 4c for the rest of the year. Money was raised, the app V2.0 underwent Beta testing and not much happened. When an ASX enquiry came in Jan following a run to 8c, the response was the company was

not aware of any reason or information which could be an explanation for the manner of trading in the Company's securities over the aforementioned period. However, the Company notes that business development and commercialisation activities for Frugl Groceries, the Company's grocery comparison and wellness mobile application (App) continues to progress. As noted in the ASX release of 29 October 2020, following the release of the Frugl App Version 2.0, Frugl has commenced marketing activities to drive user growth and further enhance the commercial offering for its data analytics products, which are currently being marketed to major Australian retailers and grocery suppliers. As part of these marketing and commercialisation initiatives, the Company is currently actively engaged in discussions with industry groups and potential customers. These discussions remain ongoing and incomplete. Frugl has also recently engaged the services of an independent technology focused investor relations firm. These services are designed to promote the Frugl App and the Company.
And today, a bit of a kick, with a relationship with Metcash:

Frugl has agreed to provide key data and analytical information to Metcash Food through the frugl and InFocus Analytics platforms to enable intelligence-lead retail decision making. The fees payable to Frugl for the data and analytical information under the Agreement are not financially material. Frugl will seek to develop its relationship with Metcash with a view to expanding the scope of the services Frugl will provide, in which case the Company would release a further market update.

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  • 10 months later...

and how is Frugl doing? meh. Failing to capture the imagination of the web browsing , comparison shopping , cost conscious public, it would seem. Market cap is under $4million, trading around 2c and on a downward trajectory for most of its current listed life.

And the twisted corporate pathway can be seen in an old, now defunct VTX thread

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