VANCOUVER, BC, March 16, 2021 /CNW/ - Datable Technology Corporation (TSXV: DAC) (OTC Pink: TTMZF) (the "Company" or "Datable" or "DTC"), a software company that provides a marketing automation platform called PLATFORM3 to global consumer brands, announces that it has signed four new license and rewards agreements for a total of close to $500,000 in contracted revenues.
Datable now has over $3.7 million in contracted revenue for 2021 and future periods, of which approximately $3 million is expected to be recognized as revenue in 2021. Datable expects gross margin to be about 55% in 2021. Contracted revenues do not include transaction fees, which are expected to account for about 10% of revenues in 2021.
The agreements were signed in February and March of 2021 to provide PLATFORM3 and related services including:
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Two agreements were signed in March 2021 with a leading advertising agency (the "Agency") to provide rewards for digital marketing programs to consumers purchasing baby care products of one of the world's largest consumer goods companies. The Agency previously licensed PLATFORM3 from Datable for this consumer goods company. The programs are expected to launch in April 2021 and run until the end of 2021 in the U.S.
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An agreement was signed with the Agency in February 2021 to provide PLATFORM3 to a US based consumer goods company in the art supplies sector for a digital marketing campaign planned to launch in July 2021 and run until the end of September 2021 across the U.S.
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An Agreement was signed with the Canadian advertising agency to provide rewards to consumers buying products of participating consumer goods companies in a leading Canadian retailer. The programs are planned to launch in June 2021 and run until August 2021 across Canada.
"We are track our best year ever in 2021 contracted revenues that in mid-March that already exceeds our estimated revenues in 2020," said Robert Craig, Datable's CEO. "Our track record of delivering a differentiated and measurable ROI to leading brands is driving upsized renewals and attracting new customers."
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. PLATFORM3incorporates 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. .....Bluetick