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  "documentTitle": "Lightspeed Commerce, Inc. (LSPD)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-09-29 00:00:00",
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  "notes": "Uses a red flag icon to highlight the conflict of interest.",
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      "text": "LSPD announced the acquisition of Chronogolf on May 30, 2019 shortly after going public. Per the press release, “An existing Lightspeed partner, Chronogolf uses the Lightspeed platform for both the retail and restaurant facets of its business software, combined with its booking and management solutions.” What the press release doesn’t say is that both Lightspeed and Chronogolf shared the same VC firm, iNovia Capital, as financial partners. Was this deal in the best interest of public shareholders, or iNovia Capital?",
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      "text": "Was this deal in the best interest of public shareholders, or iNovia Capital?",
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      "kind": "list",
      "text": "There are 9,562 Golf Courses & Country Clubs businesses in the US as of 2021, a decline of -1% from 2020. There are an estimated 2,400 golf courses across the country, while Statistics Canada pegs the number of golfers in Canada at about 1.5 million. Today, IBIS estimates 2,287 golf courses in Canada.",
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      "text": "“An existing Lightspeed partner, Chronogolf uses the Lightspeed platform for both the retail and restaurant facets of its business software, combined with its booking and management solutions.” — Press Release",
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      "text": "1) Lightspeed POS Inc. Announces the Acquisition of Chronogolf, Press Release 2) iNovia website shows both Chronogolf and Lightspeed",
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      "text": "Chronogolf customer growth table showing 3 pilot in 2012 to 590 in 2019.",
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      "kind": "title",
      "text": "Chronogolf: Whose Interests Are Served?",
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