Derek Handley

$100k for the job that wasn?t

Credit Mark Mitchell

I thought it was a little strange when Prime Minister Jacinda Ardern cancelled two scheduled interviews for this weekend citing a diary mix-up.? I would have thought she had plenty of PR people who could keep those things straight for her, but apparently not. I shrugged and carried on with my day.

Then a few hours later, the latest botch-up hit the news and it made sense. She’s avoiding the media in case they want to ask nasty little questions. Questions like why are we having to pay $107,500 to someone for a job that was, and now isn’t?

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How long has Snakk Media got?

I have been closely following Derek?Handley and his latest imminent failure Snakk Media.

This guy is a shameless self-promotor who usually starts conversations like Pearl Going does, by mentioning that he once worked with Richard Branson, or held his dick while he took a leak?on an island or some other inane story.

But it looks like Snakk Media has had a gutsful of poor performance.

Snakk Media [NZX: SNK] founder Derek Handley will step down as chairman of the mobile advertising technology company by the end of the year in a wider boardroom shuffle.

Mr Handley, whose interests own about 15% of Snakk, will leave the board of the firm he co-founded in 2010, and Michelle Kong will retire after the September 16 annual meeting, the company said in a statement.

Their exit is part of a boardroom rejuvenation, which will install Australian cloud hosting business?Macquarie Telecom’s chairman, Peter James, as executive chairman. He will be based in Sydney along with chief executive Mark Ryan. Broadfield Advisory principal Martin Riegel was appointed to Snakk’s board in June. ? Read more »

Nothing to see here, except Derek Handley sweating

Snakk Media, the NZAX listed company whose auditor raised doubts as to Snakk as a going concern, issued a comical press release to the NZX called “Nothing to see here” earlier yesterday morning. The NBR, who has been investigating the auditors raising of Snakk’s risks, has the press release here.

Full marks for trying to engage in some desperate misdirection but Snakk addressed none of the questions asked by media.

It would seem the market is not buying Chairman Derek’s bluff and bluster, with the share price free falling by 8% on Monday and falling a further 5% more on Tuesday.

Here are some interesting questions for the media to ask of Derek Handley and Snakk:

Why won’t you answer the NBR’s questions?

Why did Chairman Handley cut his salary if everything is going swimmingly? ? Read more »

Derek Handley is becoming the Terry Serepisos of tech

Derek Handley

Derek Handley

Derek Handley, the sustainability show pony, has some grim news for his shareholders at Snakk Media.

It seems the business may not be sustainable.

Auditors have highlighted a ?material uncertainty? as to whether Snakk Media can carry on as a going concern, as it scraps plans for an ASX listing and plans to raise more money from shareholders.

The NZAX-listed digital advertising agency, which matches advertisers with mobile users, released its annual report to the stock exchange late Friday afternoon.

In the report, management says the company?s ability to operate as a going concern depends on its ability to achieve budgeted revenue and gross margins, whether it can finalise a financing agreement and receive continuing support from shareholders.

Auditors Staples Rodway highlight this, saying: ?These conditions indicate the existence of a material uncertainty that may cast significant doubt about the group?s ability to continue as a going concern.?

The auditors suggest that if the company is unable to continue its operations, assets may need to be revalued and bank debt may need to be reclassified as short-term.

Handley and Snakk thought they might get away with releasing their annual report late on a Friday, hoping it might get ignored. I guess the NBR is wise to that trick.

According to the NBR, it looks like some of Snakk’s non-current liabilities might look more like current liabilities if these uncertainties should continue.? That sounds a lot like code words for the bank calling its debt in.

Derek Handley is the Terry Serepisos of tech, all piss and wind. After all, it’s not the first company he’s struggled with. He ran his old company Feverpitch, a failed online gambling company, into the ground back in 2003. The NZX wreckage mutated into a reverse listing before that, in turn, got delisted.

Investors in Snakk and believers of Handley’s hype-spraying might want to read the annual report very closely to make sure they are happy with Snakk’s big picture.

SkyTV will be sure to ask questions of Derek as well, since they, for some unknown reason, thought it a good idea to put Derek on their board of directors.

One thing’s for sure, we won’t be seeing Derek updating his own Wikipedia page with the news he might ruin his second listed company unless he finds some cash, pronto. Maybe instead of lecturing others he might listen to some wiser old hands about what business sustainability is all about.

 

– NBR

Derek Handley – the globetrotting PR machine?

It is a big no-no to edit your own Wikipedia page. ?Periodically mine gets vandalised but I studiously avoid editing it.

Plenty of others edit their own. Some do a good job of it, others shamelessly?write themselves up like the wiki page of Pearl Going.

Occasionally I come across people’s wiki pages when doing research for a story and find interesting edits.

I was recently looking at Derek Handley’s page.

Now, if you look at the Wikipedia edits for 20 January 2015, you will see that there were some edits made from IP address 178.193.78.13

Using a reverse IP lookup tool tells us?that the IP address 178.193.78.13 resolves to Zurich in Switzerland.

 

According to Wikipedia, the only edits that IP address ever made were for Derek Handley. They haven?t edited any other pages on the site. So, a curious one off.

Now, who would be interested in editing the Derek Handley Wikipedia page, who was in Switzerland on the?20th January, on a one off basis?

Why, Derek Handley was at the Davos World Economic Forum in Switzerland at that exact same time! ? Read more »

Agreeing with Chris Trotter about online voting

There are plenty of fools out there who think that electronic voting is nirvana, that it will engage the yoof to vote and increase participation in our democracy.

I disagree, and so does Chris Trotter. Electronic voting won’t deliver what proponents say it will, in fact it is likely to increase distrust in the voting process.

There are already conspiracy theorists out there who think John Key rigs ballot boxes, imagine if there was electronic voting, you’d ahve accusations of Merril Lynch funding the software company from the time of John Key’s involvement and therefore the process must be corrupt.

DEREK HANDLEY bubbles over with faith in the future. As a precocious inductee to the Silicon Alley Hall of Fame, he is blazingly confident that capitalism, information technology and the entrepreneurial spirit are never going to encounter a challenge they cannot rise to ? or overcome.

Like the failure of close to half of New Zealand citizens aged under 30 to engage in the electoral process.

On this subject Mr Handley is typically forthright:

?Everybody under 30 has grown up with the internet and mobile devices to do practically everything online yet they still can?t vote online. [This has resulted] in an entire generation being pushed to the sidelines of democracy not because they don?t care, but because it hasn?t kept up with them.?

Setting aside Mr Handley?s bubbly confidence in all things ?online?, this is utter tosh. An ?entire generation? has not been ?pushed to the sidelines of democracy?, they have ambled there entirely of their own accord. Not only do they not ?care? about democracy, but an alarming number of them would also struggle to tell you what it is.

In my opinion Derek Handley is a jumped up pretentious tosspot. My dearly departed grandfather once commented (ok it was a lot) that empty vessels make the most noise. This is Derek Handley.

Trotter is dead right about the dead set useless yoof who let themselves become disengaged in democracy.

Far from democracy failing to keep up with the needs of the younger generation, one out of every two New Zealanders under 30 has failed conspicuously to keep up with the most fundamental facts of political life.

The most important of these is that politics (and elections) are activities to be participated in collectively ? not individually. The moment this central fact of political life is forgotten, the logic of participation collapses in on itself.

A recent article by Fairfax journalists Paul Easton and Simon Day vividly illustrates what happens when the prospect of casting a vote is viewed through an individualistic, as opposed to a collectivist, lens.

Asked why he didn?t vote, Johnny, aged 20, and described simply as ?dad?, declared:

?I didn?t see the point. My life is good as it is. I don?t like John Key, but I thought he was going to get in anyway so I didn?t vote. I would vote if it meant getting stuff I was keen for.?

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My word haven’t things changed

Just a few weeks ago wunderkind Derek Handley was extolling the virtues of the Internet Party to anyone who would care to listen.

He was quite the message boy, shill or tout…hard to say which.

It?s hard to recall a product launch for anything of this scale in New Zealand recently. It?s even harder to recall the last time an aspiring politician filled a stadium.

Like him or not, something fantastic is brewing for New Zealand and I for one am watching happily as it unfolds. A lot of people from the industry that Kim and I work in, which revolves around technology, the internet, and innovation of the future, have thus far stayed quiet, preferring to sit on the sidelines. So as a self-appointed member of that unofficial club, I thought I?d come out and say something.

And say something he did.

We have a government that doesn?t really listen to the people and has increasingly grown comfortable in a quasi-arrogant swagger. And now, here comes somebody larger than life, fearless and controversial who has decided to swagger alongside them. ? Read more »

Has Handley been caught out lying about his connections to Kim Dotcom?

The other day, we covered the Handley-Sorensen connections to Kim Dotcom. Sorensen is a director of Baboom Ltd, the music “enterprise” that Kim Dotcom is working on. This scrutiny comes on the heels of Derek Handley quasi-denying to the NBR in a vague fashion that Sorensen is not a director of any company he’s been involved in. Sorensen is also a shareholder in Mega Ltd.

Yet in this Stuff article by Paul McBeth, it is noted that Sorensen was involved in buying Hyperfactory sister company Agent M Group. (Hyperfactory was majority owned by Derek Handley and his interests)

In 2011, in a company called Claridge Capital (now called Seadragon), Sorensen was a shareholder through Flinder’s holdings Ltd when it bought the Handley associated company Agent M. When Agent M Group was bought by Claridge, Sorensen was the largest shareholder of Claridge at the time. Agent M was then folded into Snakk Media.

Snakk was then listed with the help of Sean Joyce, a close friend of Sorensen. The Snakk listing was heartily supported by Sorensen as a shareholder (he owned in excess of 12% of Snakk in earlier 2013).? Read more »

Media hoodwinked again, another undisclosed association with Kim Dotcom

This morning, Derek Handley, the chairman and boss of Snakk Media (a NZAX listed company) wrote a supportive piece about Kim Dotcom, published in the Herald.

Lots of altruistic mother and apple pie statements were spouted about internet freedom and privacy. But Handley may have now unwittingly overplayed his hand and connections to the convicted pump and dump fraudster.

You see, there are a number of people with close connections between Handley and Dotcom, which might require a little bit of attention, and perhaps some assurances by Handley if he wants his own listed tech company to be viewed as “above board”.

Firstly, we know that Kim Dotcom is working on a music service called “Baboom”. Baboom is its own incorporated company in New Zealand.

Directors of Baboom Ltd include already known Dotcom associates. A colourful investor, Michael John Sorensen, best known for his associations with penny dreadful companies and reverse listings is also a director of Baboom.

But what is this? Michael John Soreson is also balls deep within Snakk Media, Derek Handley’s company, owning around 12% of the company at one point through an entity called Snakk Trustee Limited.

Historic data for Snakk Media (not Snakk Trustees) shows that previous directors include past and current business colleagues of John Sorensen.

So there appears to be a slightly more than altruistic perspective here by Mr Handley. Kim Dotcom is actually thick as thieves with at least one of Handley’s business associates, the colourful John Sorensen. There are all sorts of rumours washing around about Kim Dotcom’s desires to put Mega and or Baboom on the NZX, in an effort to make him more established in NZ, and ?that much harder to remove him. This includes Snakk being speculated as a possible merger candidate for Dotcom’s business interests, or other penny dreadfuls on the NZX that Sorensen and colleagues have connections with for a reverse listing.

Handley needs to come clean now on any business connections or deals being planned or discussed with Kim Dotcom and known business colleagues of Dotcom. Perhaps he might submit some assurances to the NZX and the Herald about this?

Until then though he can join the list of interested parties mouthing off support for Kim Dotcom with undisclosed baggage lurking in the background.

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Yadayadayada whatever.

We’re only a publicly listed online marketing company. Can’t be expected to have our online marketing in order.

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