VANCOUVER, Nov. 20, 2018 /CNW/ - Datable Technology Corp. (TSXV: DAC) (the "Company," "Datable," or "DTC"), announces that it has signed three new license agreements for PLATFORM³, its Software as a Service (SaaS) consumer marketing platform, with leading brands including two repeat customers and one new customer. These agreements will generate $53,000 in licensing revenues plus transaction revenues. The Company has agreements that will generate over $1.8 million in contracted revenues plus transaction revenues with approximately 75% to be recognized in 2018, and the balance to be recognized in future periods.
The three new license agreements include:
- A long-term license agreement for a multinational brewing company (the "Brewing Company") to host four shopper marketing programs where consumers who purchase qualifying products from participating retailers can register and submit an image of their receipt on a branded microsite to receive entries into weekly sweepstakes. The success of past programs, starting in early 2017 has prompted the Brewing Company to sign on for its ninth licensing agreement.
- An eight-week gift-with-purchase promotion commencing in January 2019, for a multinational confectionary and pet care company with leading brands comprised principally of candy and chocolate bars. This client has previously used PLATFORM³ for five promotions.
- A license agreement for a gift-with-purchase promotion for a new customer – a popular Canadian bread brand.
Under these agreements, the customers will license PLATFORM3 to engage consumers via mobile devices, reward purchases and collect valuable consumer data. These promotions will utilize PLATFORM3's Artificial Intelligence and Data and Analytics modules which enable brands to monetize consumer data by deploying targeted offers based on their purchasing behaviour and demographics. PLATFORM3's cryptography-based security features will be utilized to protect consumer data in the process.
"We are working hard to develop deeper relationships with packaged consumer goods companies that own multiple brands. Repeat business is a validation of the ROI delivered by PLATFORM³, for brands and high margin SaaS revenues for 3tl," said Rob Craig, CEO of 3tl. "PLATFORM³ is enabling leading brands to connect directly with consumers on mobile devices in retail stores and influence purchasing decisions with rewards. PLATFORM³ also enables brands to reward consumers for interacting with the brand and for sharing curated brand content via social media. Our technology also allows brands to collect and use data to target consumers with offers based on purchasing behaviour and demographics."
In late November 2018, Datable will be launching the Flexxi Rewards Network. Flexxi is a proprietary loyalty and rewards platform built to address the growing, but increasingly disparate and fragmented consumer loyalty market. A recent study by Accenture found that 77% of consumers participate in retail loyalty programs and a typical U.S. household is enrolled in 19 to 29 different loyalty programs, with over USD $100B points unclaimed.
Consumers will be able to register once on the Flexxi web portal and earn rewards from multiple consumer brands without having to enrol in multiple rewards programs. For launch in November 2018, Datable has established rewards partnerships with 164 leading consumer brands.
"Currently, Datable is helping some of the largest consumer brands in the world engage consumers and aggregate consumer demographics and purchase data," said Robert Craig, CEO of Datable. "Our clients own these consumer relationships and the associated data. The Flexxi Rewards Network will enable Datable to build its own database of consumers and associated data and have the opportunity to monetize this data for a lifetime."
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]