Bidstack Group PLC Strategy Update (1001E)
October 26 2022 - 1:00AM
UK Regulatory
TIDMBIDS
RNS Number : 1001E
Bidstack Group PLC
26 October 2022
Certain information contained within this Announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in
the United Kingdom. Upon publication of this Announcement, this
information is now considered to be in the public domain.
26 October 2022
Bidstack Group Plc
("Bidstack" or the "Company" or the "Group")
Strategy Update
Following the successful conclusion of its shareholders' meeting
on 25 October 2022, Bidstack Group Plc (AIM: BIDS), the in-game
brand activation platform, is pleased to share an update on its
strategy for the accelerated growth of the business.
The Board is excited that the Group's increased focus on the US
market is starting to create traction and its team is continuing to
grow. The recruitment campaign focused on recruiting US-based
sales, gaming and marketing professionals with significant
experience in gaming, digital advertising and with local market
knowledge is continuing and, following the announcement of Jude
O'Connor (CRO) and Camila Franklin (COO), the team now comprises
nine people.
As announced on 20 September 2022, the Directors' target of
annual revenue from the US market of US$100m or more within the
next three years is already starting to become visible and members
of the US team are incentivised to provide these results.
Asia-Pacific is also becoming a key region which exhibits
favourable market dynamics for gaming and advertising. Bidstack has
appointed Motoki Kikuta (Regional Lead) based in Tokyo to capture
the opportunity with local game developers and media agencies.
Bidstack's breadth of game developers continues to grow given
new products, ad-formats and the acceleration of adoption of the
Company's platform. This is reflected in several new commercial
deals:
-- Bidstack has signed with global mobile developer Outfit7 for
its portfolio of games which have global reach and up to 470m
monthly active users; and
-- Bidstack now has a partnership with Unity as a Unity Verified
Solution. The Verified Solution status has been rigorously tested
and will see the Bidstack SDK featured on Unity platforms as a
"best-in-class" monetisation solution for game developers.
Bidstack's technology and licensing business is also becoming a
crucial pillar of growth for the future. This part of the Group's
business has already achieved a number of enterprise agreements,
including a contract to provide a leading Asia-Pacific mobile
marketing technology company with the ability to white-label the
platform, as announced on 11 July 2022. Since then it has signed a
multi-year deal with metaverse franchise, SimWin Sports.
The Directors are pleased with the Group's technology and
licensing business' pipeline of both demand and supply side
customers wishing to license Bidstack's self-serve platform in
non-core markets.
Bidstack is working to build a transparent, open marketplace
which removes barriers to the growth of programmatic buying and
selling in gaming environments. As demand for in-game advertising
continues to grow in line with advancements in measurement and
brand safety, Bidstack's product roadmap is expected to deliver the
following items in 2023:
-- Further SSP capabilities by expanding connections with
enterprise partners and integrating new ad formats to scale
inventory access; and
-- Expanded data infrastructure to ingest third-party data
sources for verification, viewability and attribution and reporting
capabilities for audience activation and campaign optimisation.
As a consequence of these developments, Bidstack intends to
undertake a comprehensive business review, specifically reassessing
and renegotiating, where appropriate, both existing and new
reseller engagements in all geographies in order to maximise the
benefits of its contacts with developers, publishers, ad-tech
vendors and media companies. This strategy is based on the Group's
early evidence of its success in selling directly into North
America and Japan.
Bidstack's has uploaded an investor presentation which can be
found at www.bidstack.com/investors .
James Draper, Founder/CEO said:
"Bidstack has an aggressive growth strategy for 2023 and beyond.
We are happy to share the new revenue streams the Group is
exploring, including licensing our proprietary technology,
empowering IP rights holders to control their brand activations in
the virtual world and the expansion of our gaming 'SSP', which now
houses all ad-formats within the gaming ecosystem.
"This is an exciting period where we are looking to accelerate
our top line growth and look to cement our position as the dominant
technology provider for game developers and platform owners for
targeted, brand-based communications within gaming environments and
applications."
-ENDS-
Contacts
Bidstack Group Plc
James Draper, CEO via Buchanan
SPARK Advisory Partners Limited (Nomad) +44 (0) 203 368
Mark Brady / Neil Baldwin / James Keeshan 3550
Stifel Nicolaus Europe Limited (Broker) +44 (0) 20 7710
Fred Walsh / Tom Marsh 7600
Buchanan Communications Limited
Chris Lane / Stephanie Whitmore / Kim
van Beeck +44 (0) 20 7466
bidstack@buchanan.uk.com 5000
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDFEUESIEESEIS
(END) Dow Jones Newswires
October 26, 2022 02:00 ET (06:00 GMT)
Bidstack (LSE:BIDS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bidstack (LSE:BIDS)
Historical Stock Chart
From Jul 2023 to Jul 2024