VANCOUVER, Jan. 24, 2019 /CNW/ - Datable Technology Corp. (TSXV: DAC) (OTCQB: TTMZF) (the "Company" or "DTC"), formerly 3tl Technologies Corp., a technology company whose core product, PLATFORM3, is an integrated suite of digital marketing applications sold as Software-as-a-Service (SaaS), announces the following update on agreements signed in 2018.
- Approximately $1.9 million in agreements signed and incurred for the year ended December 31, 2018, an increase of 27% compared with the same period in 2017
- The total agreements signed in 2018 were comprised of 50% returned customers and 50% new customers, compared with 42% of returned customers in 2017
- The average signed contract value in 2018 has increased by approximately 18% compared to those signed in 2017
- The Company's 2018 agreements include licenses and promotions with over 20 leading consumer packaged goods companies and brands
DTC's license agreements enable digital shopper marketing promotions for leading U.S. based consumer packaged goods ("CPG") companies. The success of these promotions in 2017 resulted in strong sales growth in 2018 due to repeat business and a trend to longer-term licence agreements. The Company estimates that over 74% of the $1.9 million in agreements signed and incurred for the year ended December 31, 2018 will be recognized as revenue in the year.
"In 4th Quarter 2018 we began introducing our customers to Datable's plan to build its own consumer data market place by launching the Flexxi Consumer Rewards Network (Flexxi). In addition to Flexxi, the Company introduced updated versions of its Artificial Intelligence based Consumer Messaging and Rewards Portal," said Rob Craig, Datable's CEO. "We have had an incredible response from our global consumer brand customers to these new products. Importantly, these new product additions have opened up new verticals for us. Our sales pipe for 2019 is stronger than ever and it looks like 2019 is going to be an incredible year for Datable."
In 2018, PLATFORM³ was used to host promotions where consumers were rewarded via their mobile devices for buying products in retail stores and online, watching videos, completing surveys and sharing brand friendly content on their social networks. CPG companies are using PLATFORM³ to influence buying decisions and to collect consumer data that can be used for targeting consumers based on past purchases, brand interactions and demographics.
The focus in 2019 is on accelerating growth based on DTC's proven platform and its customer base of leading global brands. The trend to longer-term agreements with returned customers is to achieve their goal of building consumer databases that can be monetized to maximize lifetime values. As these consumer databases hosted by PLATFORM³ grow in size and richness of data, CPG companies can leverage the Company's proprietary artificial intelligence modules to retarget consumers with offers aimed at increasing purchase size and frequency.
About Datable Technology Corp.
DTC has developed a proprietary, mobile-based consumer marketing platform – PLATFORM3 – that is sold to global Consumer Packaged Goods (CPG) companies and consumer brands. PLATFORM3 is delivered as a subscription service (Software as a Service model) and used by CPG companies to engage consumers, reward purchases and collect valuable consumer data. PLATFORM3 incorporates Artificial Intelligence and Machine Learning to monetize the consumer data, including demographics and purchasing behaviour, by sending consumers targeted offers by email and text messages. For more information, visit datablecorp.com.
For additional information about the company please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds and the results of financing efforts, – that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Datable Technology Corp.
For further information: Datable Technology Corp., Robert Craig, Chief Executive Officer, (604) 639-5441, [email protected]