engage:BDR shares rockets 25pc as it outlines the path to profitability
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Special Report: Display and video advertising solution provider engage:BDR gave investors a rundown of its 2019 strategic plan this morning boosting shares up 25 per cent.
More than $800,000 worth of shares traded hands as the buying price hit an intraday high of 3c, up 25 per cent on yesterday’s close of 2.4c.
The adtech (ASX:EN1), which is the brainchild of former Myspace executive Ted Dhanik and Myspace founder Tom Anderson — more affectionately known as ‘Myspace Tom’ — released a meaty document outlining how it would return to profitability.
The company told investors, in short, that it plans to do so by growing the number of integrations with publishers, scaling current partnerships, reducing operating expenses and deploying new products.
Helping hand for brands and ad agencies
engage:BDR helps brands and advertising agencies bid for online advertising space automatically, whether on a website or social media platform.
Top advertisers across the globe rely on engage:BDR’s innovative advertising solutions to drive towards their KPIs.
The company began 2019 with five new programmatic integrations, bringing the total number of integrations to more than 175.
Road to success
engage:BDR CEO Ted Dhanik says the company’s future roadmap will “enable more accountability to shareholders” over the course of 2019.
“We have put together a seven-page overview of our strategic plan that not only touches on all of our business units but also ensuring transparency amongst our shareholders. We’re welcoming the challenges with open arms and look forward to the many wins 2019 will bring EN1.”
The company has set an ambitious goal of signing between six and eight new programmatic integrations each quarter by muscling in on existing relationships, reducing operating costs and improving its back-end technology.
A big part of this strategy is the continued growth in two of its platforms; one is IconicReach, the influencer marketing platform, and the other is AdCel, which engage:BDR acquired last year.
IconicReach will look to sign between three and four new deals per quarter, adding approximately 2,500 additional micro-influencers to its network, while the AdCel acquisition provided engage:BDR with over 6,000 applications, increasing the company’s advertising inventory available for sale.