SEEEN PLC New Product Launch & Sales Adviser Appointment (4609Y)
May 13 2021 - 1:00AM
UK Regulatory
TIDMSEEN
RNS Number : 4609Y
SEEEN PLC
13 May 2021
SEEEN plc
("SEEEN", the "Company" or the "Group")
New Product Launch and Appointment of Sales Adviser,
Grant of Options
and
Notice of Results
SEEEN plc (AIM: SEEEN), the global media and video technology
platform delivering transformative video AI for improved digital
marketing yield and connected audience experiences, is pleased to
announce that it has launched a new product, Dialog-To-Clip, for
sale to video creators on Adobe (R) 's app store. Adobe (R) is the
world's leading company for digital media tools. SEEEN's
Dialog-To-Clip offering brings SEEEN's "Key Video Moments"
technology to approximately 10 million users of the Adobe (R)
Premiere Pro (R) video editing platform.
During April, the Group announced strong Q1 results and the
start of Q2 with a business-to-business product sale. The Group
stated that as part of its Go-to-Market plan, it would be "rolling
out additional video technology products to its target customer
base starting in 2Q." Today's launch of Dialog-To-Clip, as
discussed below, solves a major problem for video creators: how to
cut the time and pain of annotating and editing "Key Video
Moments".
In order to further focus the Group on sales, the Company has
made a strategic advisory appointment of a senior business
development executive to accelerate its Go-To-Market plan. The
Company has also incentivized the Dialog-To-Clip team for
additional commercial results with options priced at a 30% premium
to yesterday's closing price.
Dialog-To-Clip launch
SEEEN's Dialog-To-Clip product has been approved by Adobe (R) as
a plug-in for Premiere Pro (R) users and is now available for video
editors to purchase both on the Adobe (R) Creative Cloud (R)
Exchange and on the Company's website. The Adobe (R) Creative Cloud
(R) Exchange is one venue where the millions of users of Premiere
Pro (R) can see and purchase plug-ins to optimise their video
editing workflows. The Company will also be supplementing expected
sales through the Creative Cloud (R) Exchange with targeted
marketing to Premiere Pro (R) users.
SEEEN developed Dialog-To-Clip with input from our customers who
face competitive pressure to produce more content at less cost.
Dialog-To-Clip achieves these efficiencies by replacing the
traditional timeline editing processes, which are labor intensive,
with fast, accurate, and AI-driven in-video search. SEEEN's
automated process draws upon its Jetstream (TM) and CreatorSuite
(TM) technology components.
How Dialog-To-Clip Works:
Dialog-To-Clip is available as a panel inside Adobe (R) Premiere
Pro (R) . It streamlines the editing process via an interactive,
speaker diarized video transcript. From this transcript, a video
editor can quickly search, identify and automatically create video
clip assets from within a video. Without this product, video
editors need to watch the full video and manually fast-forward and
reverse through the video to a particular location in order to
find, mark and extract a clip.
Appointment of Sales Adviser
In addition to the above product launch, the Company has also
strengthened its sales function, including the recent appointment
of William Jennings as a Sales Adviser to accelerate the
Go-To-Market sales plan for its product portfolio, including
CreatorSuite(TM) and JetStream(TM) , with larger brands and
publishers. Bill has significant professional experience in senior
sales management for online video, including most recently at
Firework Networks, a short form video business enabling publishers
to deploy "Shorts" (short videos for marketing and advertising
purposes).
Grant of Options
The Company has today granted options over ordinary shares at an
exercise price of 65 pence, 30% above the current market price, to
the key employees and advisers involved in development of the
Dialog-To-Clip product and the Company's sales plan. In total, the
Company issued 625,000 options which vest 1/3(rd) on the first
anniversary, 1/3(rd) on the second anniversary and 1/3(rd) on the
third anniversary subject to the employee or adviser still being
employed or actively involved with the Company (the "Grant of
Options").
Post the Grant of Options, the Company has a total of 14.5% of
its fully diluted share capital under option over ordinary
shares.
Notice of Results
The Group intends to publish its Final Audited Results for the
financial year ended 31 December 2020 in the week commencing 14
June 2021.
Todd Carter, SEEEN CEO, commented: "We are extremely pleased to
commercialize Dialog-To-Clip. Customers are seeking more efficient
video workflows and are attracted by SEEEN's value proposition. The
introduction of Dialog-To-Clip is an important commercial step
towards our vision of enabling a transformative video experience
platform. By moving data intensive video editing functions closer
to the user, we will reinforce the powerful value proposition of
SEEEN's Cloud-Based solutions like CreatorSuite (TM) and JetStream
(TM) that empower creators and enable publishers to reap higher
returns from digital marketing.
In parallel with this product launch, we are delighted to
appoint Bill Jennings, who has a strong track record in the online
video industry, as a Sales Adviser to accelerate our Go-To-Market
strategy with large video providers who seek to publish and
commercialize their libraries by extracting "Key Video Moments" for
consumers."
Enquiries:
SEEEN
Patrick DeSouza, Chairman Tel: +1 203 654 5426
Todd Carter, CEO Tel: +1 917 776 3027
Adrian Hargrave, CFO Tel: +44 7775 701
Bill Jennings, Senior Sales Advisor 838
Tel: +1 917 647-3067
Panmure Gordon Tel: +44 20 7886
(Financial Adviser, Nominated Adviser & 2500
Joint Broker)
Alina Vaskina / Sandy Clark (Corporate Advisory)
Erik Anderson / Rupert Dearden (Corporate
Broking)
Dowgate Capital (Joint Broker) Tel: +44 20 3903
7721
Stephen Norcross
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