VANCOUVER, BC, Feb. 14,
2023 /CNW/ - Datable Technology Corporation (TSXV:
DAC) (OTC Pink: TTMZF) (the "Company" or "Datable"), the developer
of a proprietary, SaaS-based Consumer Lifecycle and Data Management
Platform called PLATFORM3, is
pleased to announce that it has renewed its annual license
agreement (the "Agreement") with a leading digital media and
entertainment company (the "Customer").
The Customer is the digital division of a leading global media
and technology company, which owns and operates business units that
provide cable, entertainment (major motion pictures, TV
broadcasting, and theme parks) and streaming services. This
Agreement renews the license, which was set to expire in
June 2023, for an additional year to
June 2024.
The one-year renewal includes a software-as-a-service (SaaS)
license for approximately $145,000
plus transaction fees based on the number of programs and consumer
engagements hosted by PLATFORM3. In
2022, Datable invoiced the Customer for approximately
$500,000 in SaaS license and
transaction fees with an estimated gross margin of over 80% and
expects the invoiced amount and gross margin to increase in
2023.
"This Customer has been using PLATFORM3
since 2016 and has renewed this annual Agreement every year since
2018. They use our platform to connect directly with
consumers and reward them with online movie tickets for purchasing
the products of leading consumer brands, all while collecting
valuable opt-in first-party consumer data to optimize future
programs," said Robert Craig,
Datable's CEO. "We have been very encouraged by the loyalty
of our major customers who all renewed their annual and multi-year
agreements in 2022 and have indicated that they will do so again in
2023. These long-term customers have helped us validate and
improve our enterprise level solution and quantify the ROI we
deliver. We expect a return to strong revenue growth that was
interrupted by COVID, driven by increasing demand for our consumer
data platform that helps leading brands build valuable and
compliant consumer databases and monetize that data with tools that
generate incremental sales and enhance loyalty."
About Datable Technology
Corporation
Datable has developed PLATFORM3 a
proprietary Consumer Lifecycle and Data Management Platform that is
sold to global consumer brands.
PLATFORM3 is delivered as a
subscription service (Software as a Service model) and used by some
of the worlds' most valuable consumer brands to access new consumer
communities and engage them while collecting, analyzing, and
managing their first-party data.
PLATFORM3 incorporates
proprietary technology 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.