What3Words’ Books Don’t Look Too Good

Steven Feldman, analysing What3Words’ 2021 accounts:

The business is powering ahead despite a small fall in sales to £444,382 (no I have not missed out a couple of zeros), they have managed to increase losses from just under £17m last year to just under £44m this year.

To earn £1, What3Words spent almost £100 in 2021. My understanding of economics and running a business is minimal, but that doesn’t look like a healthy business. But the investors keep the money tap open, so everything is fine.