Online marketer Pureprofile is the latest ASX stock to join Team Blockchain; shares fly
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Struggling online marketer Pureprofile is the latest ASX stock to join Team Blockchain, partnering with personal data exchange business Brontech.
Pureprofile (ASX:PPL) — which collects consumer data by offering “paid surveys, quick questions, insights and content that’s relevant to you” — has had a challenging 12 months.
The share price has dropped 43.5 per cent over the past year. Founder Paul Chan quit in February while rebel shareholders stood down from trying to overthrow the board in March.
However, the company says the dramas are behind it and there is plenty of growth potential on the horizon.
Investors seem to agree. The shares have almost doubled to 17.5c since a market update yesterday showed monthly EBITDA earnings have been in positive territory since March.
The stock is now at its highest point since January.
This morning Pureprofile shared details of two new partnerships including a deal with blockchain business Brontech which would allow Pureprofile users to add records of transactions through the Brontech platform.
Blockchain is a technology used to secure online transactions. It’s best known as the basis of cryptocurrencies such as bitcoin but is increasingly used in other applications such as verifying supply chain data and digital contracts.
Brontech collects users transactional data and stores information about users in personal data wallets. Users contribute their own data to the pool in exchange for Brontech’s blockchain token The Born, cash or deals provided by business partners who mine Brontech’s data sets.
Pureprofile’s partnership with Brontech will let Pureprofile users securely connect their Brontech transactional data into their Pureprofile apps, meaning they will receive more targeted research based on their purchase histories.
Pureprofile will also be able to embed its surveys into Brontech’s interface to reach its pool of users.
It wasn’t just blockchain news the company had on display this morning. The company also confirmed it has struck a deal with News Corp to collect self-declared consumer data from US News Corp brands that use the media giant’s ad solution NewsIQ.
This deal would see Pureprofile lend its platform to News Corp to prompt readers to answer questions while browsing sites like The Wall Street Journal and New York Post.
In a statement, Pureprofile chief executive Nic Jones said the deal was built on a partnership the company had already forged with News Corp Australia.
“We look forward to the opportunity to work with the rest of News Corp’s digital assets both within the US and globally.”
Pureprofile was one of the top small cap gainers on Tuesday, up as much as 101 per cent to an intraday high of 17.5c by lunchtime before closing at 16.5c.
The share price ticked upwards at the market open this morning, up 6 per cent to 17.5c again by 11am AEST.