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Pin to quick picksBidstack Group Regulatory News (BIDS)

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Strategy Update

26 Oct 2022 07:00

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)

Mark Brady / Neil Baldwin / James Keeshan

 

+44 (0) 203 368 3550

Stifel Nicolaus Europe Limited (Broker)

Fred Walsh / Tom Marsh

 

+44 (0) 20 7710 7600

Buchanan Communications Limited

Chris Lane / Stephanie Whitmore / Kim van Beeck

bidstack@buchanan.uk.com

 

+44 (0) 20 7466 5000

 

 

 

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UPDFEUESIEESEIS
Date   Source Headline
22nd Mar 20241:11 pmRNSAppointment of Administrators & Nomad Resignation
11th Mar 20247:30 amRNSSuspension - Bidstack Group PLC
11th Mar 20247:00 amRNSIntention to Appoint Administrators & Suspension
5th Feb 20247:00 amRNSUpdate on CLN, Financial Update & Strategic Review
22nd Dec 20237:00 amRNSSettlement & new commercial partnership - Azerion
1st Nov 20237:00 amRNSChange of Registered Office
18th Oct 20233:45 pmRNSProposed CLN, Share Reorganisation and VST Update
29th Sep 20237:00 amRNSBoard Change
29th Sep 20237:00 amRNSProposed New Commercial Partnership
29th Sep 20237:00 amRNSInterim Results
30th Aug 20237:00 amRNSVenatus Advertising Sales Partnership
23rd Aug 20234:47 pmRNSTR-1: Notification of Major Holdings
21st Jul 202311:23 amRNS2023 Annual General Meeting Results
18th Jul 202311:46 amRNSGeneral Meeting Requisition Request withdrawn
18th Jul 20237:00 amRNSBoard Changes
13th Jul 20231:32 pmRNSVirtual stadium partnership with first NFL team
11th Jul 20237:00 amRNSRequisitioned General Meeting
5th Jul 20237:00 amRNSRequest to requisition a General Meeting
21st Jun 20237:00 amRNSAnnual Report & Accounts and Notice of AGM
20th Jun 20238:18 amRNSFinal Results and Annual Report - replacement
20th Jun 20237:00 amRNSAnnual Report & Accounts and Notice of AGM
1st Mar 20235:28 pmRNSComment on Azerion Statement
15th Feb 20237:00 amRNSBidstack appoints Thomas Bullen as CFO
13th Feb 20232:05 pmRNSSecond Price Monitoring Extn
13th Feb 20232:00 pmRNSPrice Monitoring Extension
13th Feb 20237:00 amRNSTrading and Operational Update
18th Jan 202311:22 amRNSChange of Registered Office
3rd Jan 202311:05 amRNSSecond Price Monitoring Extn
3rd Jan 202311:00 amRNSPrice Monitoring Extension
3rd Jan 20237:00 amRNSAzerion Update
29th Dec 20227:00 amRNSBoard Changes
9th Dec 202211:04 amRNSGrant of LTIP Options
8th Dec 20227:00 amRNSExercise of Options, Issue of Equity & TVR
6th Dec 202211:03 amRNSTR-1: Notification of major holdings
5th Dec 20227:00 amRNSBidstack adds 2 titles with a AAA game publisher
1st Nov 20223:39 pmRNSTR-1: Notification of major holdings
31st Oct 20223:35 pmRNSTotal Voting Rights
31st Oct 20223:21 pmRNSTR-1: Notification of major holdings
31st Oct 20222:16 pmRNSTR-1: Notification of major holdings
31st Oct 202211:54 amRNSTR-1: Notification of major holdings
28th Oct 20224:16 pmRNSTR-1: Notification of Major Holdings
28th Oct 20227:00 amRNSUpdate re Press Commentary
26th Oct 20223:45 pmRNSAdmission of Ordinary Shares and TVR
26th Oct 20227:00 amRNSStrategy Update
25th Oct 202212:08 pmRNSResults of General Meeting
13th Oct 20227:00 amRNSBidstack appoints Camila Franklin as COO
6th Oct 20226:28 pmRNSResults of REX Retail Offer
6th Oct 20228:06 amRNSResults of Placing and Subscription
5th Oct 20224:36 pmRNSREX Retail Offer
5th Oct 20224:35 pmRNS£10m Placing/Subscription ABB & Rex Retail Offer

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