Datable Provides Update on Revenues and Data Monetization Platform - P(3)Consumer
VANCOUVER, Sept. 12, 2018 /CNW/ - Datable Technology Corp. (TSXV: DAC) (the "Company," "Datable," or "DTC"), announces that as of the end of August 2018 it has signed 26 new license agreements for PLATFORM³ - its Software as a Service (SaaS) consumer marketing platform - with leading brands including 16 repeat customers and 10 new customers. The Company has agreements that will generate over $1.7 million in contracted revenues plus transaction revenues, including the 26 agreements signed as of the end of August 2018, and agreements signed in prior periods.
In August, Datable signed the following license agreements:
- A six-month extension of a license agreement for a leading global distributor (the "Distributor") of theatrical and television products to continue its digital gift-with-purchase loyalty program (the "Portal"). The success of this Portal has prompted the Distributor to extend the initial one-year license agreement by six-months for the second time since early 2018. The Distributor is a subsidiary of an American global mass media and telecommunications conglomerate that is one of the world's largest broadcasting and cable television companies.
- A four-month holiday promotion commencing in October 2018, for a multinational food company with leading brands comprised principally of snacks and convenience foods like cereal and frozen foods. The food company has previously used PLATFORM³ for a number of promotions.
Under these agreements, the customers will use PLATFORM³ to engage their consumers via mobile devices, reward purchases and collect valuable consumer data. PLATFORM³'s Artificial Intelligence and Machine Learning modules will enable the customers to monetize the consumer data by targeting offers based on consumers' purchasing behaviour and demographics.
"We continue to gain traction with leading brands in the consumer goods sector. The extension of these relationships reflects the trend we are seeing for robust long-term programs launched on PLATFORM³," said Rob Craig, CEO of Datable. "2018 has been a strong year for us already. We're focused on helping brands connect directly with their consumers, and harnessing the power of data to drive initial purchase, purchase frequency and customer loyalty."
On May 5, 2018, Datable announced that it plans to launch P³Consumer, a consumer data platform that will enable consumers to secure, control and monetize their data. Consumers will be rewarded for populating P³Consumer with their data (including demographics, purchase behaviour, and preferences), for purchasing products, viewing ads and videos, completing surveys, and sharing curated content and product recommendations via social networks. DTC will charge global consumer brands ("Brands") a fee for permission-based access to the data on P³Consumer and for each time a consumer makes a purchase or interacts with the Brand. As previously announced, P³Consumer is expected to be launched in the fourth quarter of the year ended December 31, 2018.
"P³Consumer will enable consumers to monetize their data and Brands to increase ROI on advertising, while accelerating our growth," said Rob Craig, CEO of Datable. "Many of the Brands that have licenced PLATFORM³ have expressed strong interest in working with us when we launch P³Consumer. Brands are constantly looking for ways to connect directly with target consumers, while consumers are increasingly looking for ways to secure and monetize their data. P³Consumer can be a win-win in the digital advertising ecosystem. Further, we have identified a number of opportunities where we can help companies with large consumer databases monetize these assets, with permission from the consumers and create a win for all stakeholders."
P³Consumer will leverage blockchain technology and protocols for performing secure multiparty computation to provide a secure, transparent, efficient and scalable platform. P³Consumer will use distributed cryptography to remove the need to entrust a third party to execute a transaction.
In mid-2016, DTC launched an enhanced version of PLATFORM³'s Security Module incorporating leading edge cryptography algorithms. These features were a key differentiator that helped DTC sign license agreements with leading Brands that demand security for consumer databases. Based on the success of this initiative, the Company expanded its cryptography development program and initiated the process of migrating PLATFORM³ to blockchain technology in 2017.
P³Consumer will migrate the core technology of PLATFORM³ to a blockchain platform to provide the transparency and security required by consumers to safeguard and monetize their personal data.
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]
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