VANCOUVER, Dec. 12, 2019 /CNW/ - Datable Technology Corporation (TSXV: DAC) (OTCQB: TTMZF) (the "Company" or "Datable"), a technology company whose core product PLATFORM3 is an integrated suite of digital marketing applications sold as Software-as-a-Service ("SaaS"), announces a corporate update and growth strategy:
Software-as-a-Service Business: Loyalty, Rewards and Consumer Engagement
PLATFORM3 has been delivering digital loyalty, rewards and consumer engagement to leading consumer brands for the last two years. Over this time the digital marketing programs hosted by PLATFORM3 have delivered incremental revenues and measureable ROI for some of the largest consumer brands in the world, incuding programs for 24 brands in 2019 year to date. These programs have provided the sales team with compelling case studies. As a result, sales cycles are getting shorter and contracts are increasing in dollar value.
- In 2019 year to date, Datable has license agreements for PLATFORM3 which account for approximately $2.3 million in total contract value, of which close to 65% is expected to be recognized as revenue in 2019. About 63% of the new license agreements are with returning customers, including renewals from all of the Company's largest customers.
- Datable expects revenue growth in fourth quarter in 2019 compared to the same period in 2018 based on signed contracts, such that the Company will report revenue growth for the year ended December 31, 2019.
- The Company is in discussions with its largest customers, comprised mosty of leading consumer brands in the USA, to renew their annual and multi-year year licenses for 2020 and future years. If such discussions are successful, the Company anticipates significant increases in contract values and revenues in 2020.
- Datable added funtional modules to PLATFORM3 based on requests from large customers, including Dynamic Messaging for targetting offers to consumers based on purchasing behaviour and enhanced Anti-Fraud protection. These modules have already driven incremental revenues for Datable.
Consumer Data Business: flexxi Rewards Networks and Shareholder Loyalty
Datable has been successful helping leading consumer goods companies build databases of consumers that buy their products and promote their brands by viewing and sharing content and by referring friends. Leading brands have engaged with millions of consumers and collected valuable purchasing and demographic data with Datable's platform. Under this model, the consumer goods companies license Datable's software and own the consumer data. Datable earns strong gross margins under this model, but cannot sell access to the consumer data.
Based on discussions with its largest customers, Datable believes that revenue growth can be accelerated by leveraging PLATFORM3 to build opt-in consumer databases owned by Datable. As announced in previous disclosures, Datable has been developing user interfaces, industry partners and a customer pipeline for the flexxi Rewards Network:
- In 2020, Datable will use its proprietary platform and expertise to commence building its own consumer database. Under this model Datable will own the consumer data, and consumer brands will pay for access to the database on a transaction basis. Consumers provide permission to use their data in exchange for rewards. Many of the leading brands that now license PLATFORM3 have indicated that they would pay for access to Datable's consumer database.
- Discussions are advancing with launch partners that own large consumer databases and want to better monetize their databases on a revenue share basis by on-boarding with the flexxi Rewards Network. Datable's goal is to build a database of millions of consumers using rewards provided by major brands.
- Datable plans to launch a digital shareholder loyalty platform in 2020 using PLATFORM3 that will enable public companies to reward shareholders and investors for supporting their companies. The Company has Identified launch partners for the shareholder loyalty platform, including an agreement with The Circadian Group to post offers to shareholders on the investment website The Cannabis Investor www.thecannabisinvestor.ca.
Key Additions to the Leadership Team.
Datable is pleased to announce the hiring of two key members to the leadership team:
Hussein Hallak, VP Product and Strategy: Hussein is working with the sales team and leading customers to build the next generation of solutions and strategic services that leverage the Company's core technology to generate value for customers and consumers, and new revenues for Datable.
Hussein is a serial entrepreneur, strategist, and speaker. He was recently recognized as one of 30 tech thought-leaders and influencers to follow in Vancouver. He is passionate about blockchain, education, emerging technologies, startups, building great products, and sustainable growth. Hussein is the Founder & Chief Curator of Vest in Canada, Founder of Next Decentrum, and Evangelist at Launch Academy, Western Canada's leading tech incubator with over 700 startups incubated, and $200 million raised. A strategic advisor and mentor for several successful startups, he is featured in Forbes, BBC, BetaKit, Entrepreneur, DailyHive, Notable, and CBC.
Sidharth Khattri, VP Technology: Sidharth leads the development team, to envision and design new functional modules based on the demands and needs of Datable's growing list of leading consumer goods companies that use PLATFORM3. He is also working on integrations with partners for the flexxi Rewards Network and shareholder loyalty platform.
Sidharth is a reactive platform & functional programming enthusiast with experience in product development/consulting, project management using Agile and Scrum across multiple domains in Scala and Java. Being an ardent fan of Java, he started his journey with OCPJP and moved forward in a focused way. Always eager to be on the forefront of exploring bleeding-edge technologies, he started looking into Scala/Clojure and functional programming paradigms to build scalable and distributed systems. He has extensive experience in designing and developing scalable and resilient systems making use of the reactive platform using an Agile/TDD approach. His current interest includes leveraging the combination of Scala and Akka to build reactive big data systems.
About Datable Technology Corporation
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 Corporation, Robert Craig, Chief Executive Officer, (604) 639-5441, [email protected]