Vancouver, British Columbia (October 9, 2020) – Datable Technology Corporation (TSXV: DAC) (OTCQB: TTMZF) (the “Company” or “Datable”), announces it has signed three new agreements (the “Agreements”) on October 6, 2020 and October 7, 2020 to provide licenses for PLATFORM³ and digital rewards for leading consumer goods companies. Datable Technology Corporation provides an integrated suite of digital marketing applications sold as Software-as-a-Service (“SaaS”), its core product being PLATFORM³.
The three agreements will pay Datable approximately $750,000, plus transaction fees after meeting certain thresholds. The three agreements are with customers of Datable who have previously licensed PLATFORM³.
Year-to-date in 2020, Datable has signed 30 new agreements, which together with license agreements signed in prior periods amount to contracted revenues of over $4.6 million, representing an increase of over 100% compared to contracted revenues in the same period in 2019. Approximately 43% or the contracted revenues are expected to be recognized in 2020, with the balance to be recognized in subsequent periods.
“We are very encouraged by the repeat business from leading consumer goods companies that have recognized the value proposition of PLATFORM³. This repeat business is a testament to our track record of providing a strong return on investment and a software platform that is scalable, secure, and easy to use,” said Rob Craig, CEO of Datable. “The addition of Dynamic Messaging, enabling our consumer goods companies to automatically retarget consumers with offers based on their purchasing behaviour, content consumption and demographics has provided clear differentiation and has driven contract extensions and larger budgets which has given us confidence that revenue growth will continue into 2021.”
Under the Agreements, Datable will provide software modules of PLATFORM³ and digital rewards to enable programs where consumers will be rewarded for purchasing products and for engaging with consumer brands by viewing and sharing curated content.
• A leading provider of regulated consumer products in the tobacco vapor and CBD sector has renewed its annual license for eighteen months until July 2022. In addition, they have added Dynamic Messaging and Rewards (“DMR”) and Advanced Data and Analytics, two new applications added to Datable’s SaaS PLATFORM³;
• Consumers in Canada will be rewarded with cashback for purchasing a qualifying amount of baby care products of a global consumer packaged goods company at participating retailers. The promotion will commence in November 2020 and run until February 2021 in a national program across Canada;
• A leading provider of adhesive technologies, beauty care, laundry and home care products will launch a promotion where consumers across the U.S. will be rewarded with digital gift cards for purchasing a qualifying amount of their products at participating retailers. The promotion will commence in February 2021 and run until March 2021.
Datable has several annual agreements where PLATFORM³ hosts an ongoing digital loyalty and rewards program. Datable is generally paid an annual license fee, service fees and transaction fees based on the number of times consumers validate purchases using PLATFORM³. The approximately $4.6 million in contracted revenues noted above only accounts for license and service fees and does not include any transaction fees.
For further information, please contact:
Datable Technology Corporation
Chief Executive Officer
About Datable Technology Corporation
Datable 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.