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TICKERS: DAC

Digital Marketing Tech Firm Releases Growth Strategies for 2020
News Update

Source:

The company has announced two new initiatives to propel growth.

Datable Technology Corp. (DAC:TSX.V) provided a 2019 financial update and its 2020 growth strategy.

In one news release, Datable Technology announced achievements that happened in the nine months ended Sept. 30, 2019. During that period, Datable sold to consumer packaged goods brands a total of 22 license agreements for its PLATFORM³, an integrated suite of digital marketing applications sold as Software-as-a-Service.

The contract value of those agreements totals about $2.3 million, roughly 65% of which will be recognized as revenue this year. "About 63% of the new license agreements are with returning customers, including renewals from all of the Company's largest customers," the company noted.

Datable's Q3/19 revenue came in at $452,246, up 7% from the same time in the previous year. Already driving revenue is the modules the company recently added to PLATFORM³. For Q4/19, it expects year-over-year revenue growth and for 2020, additional expansion in contract values and revenues if its largest clients renew their licenses. Datable is currently in discussions with them.

With respect to its consumer data business, Datable intends to develop two initiatives next year, it announced in a separate news release. One is building its own database of millions of consumers and selling access to consumer brands to it on a transaction basis. The tech firm's approach to expanding its own database is to get major brands on the flexxi Rewards Network and then use the rewards they offer to entice consumers to provide their information.

Second, Datable plans to launch a shareholder loyalty platform that employs PLATFORM³, which will allow public companies to reward shareholders and investors for their support. The company already had some success in garnering partners, for example, The Circadian Group, to post offers to shareholders on The Cannabis Investor website, thecannabisinvestor.ca.

"PLATFORM³ has been delivering digital loyalty, rewards and consumer engagement to leading consumer brands for the last two years," Datable noted. "Over this time the digital marketing programs hosted by PLATFORM³ have delivered incremental revenues and measurable ROI for some of the largest consumer brands in the world, including 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."

Regarding its leadership team, Datable recently added two people: Hussein Hallak as vice president of product and strategy and Sidharth Khattri as vice president of technology.

Hallak, with the sales team and certain customers, is working on developing new solutions and services that capitalize on Datable's technology.

Khattri heads the development team, tasked with conceptualizing and designing new PLATFORM³ functional modules based on customer feedback. Also, he is working with partners on integrations for the flexxi Rewards Network and shareholder loyalty platform.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Datable Technology Corp. Please click here for more information.
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