Gooroo Ventures Limited (ASX: GOO) is a technology company which uses its unique technology to support better decision making and value generation.
Today, the company announced that it has signed a partnership agreement with an Australian-based Customer Data Platform, Lexer which will allow Lexer to implement Gooroo ColourGrid™ segments within its platform.
This agreement will allow Lexer to market and sell Gooroo ColourGrid™ segments to its blue-chip portfolio of clients across Australia and United States, helping Lexer to drive even greater value to clients through enhanced customer analytics and improved segmentation and targeting.
As per the company’s announcement, Gooroo’s ColourGrid™ segments will deliver deeper insights, more targeted advertising which will allow increased advertiser return on marketing spend through conversions and sales.
While commenting on this partnership Gooroo Marketing Solutions General Manager, Andrew Aitken told that this unique collaboration enables customer data enrichment using Gooroo’s ColourGrid IP at scale. He further told that enriching unified customer data with mindset and then being able activate media buying all in one platform will allow marketers to build deeper connections with their customers.
As per the company’s CEO Mr. Greg Muller, the company’s objective is to collaborate with and embed itself in international platforms which are leaders in their field. According to him, this partnership provides Lexer with the opportunity to now offer new capability to its current and prospective customers, further differentiating their platform in the market. Importantly, this deal also signifies that the company’s strategy is on track, its capability is unique and it is progressively building the foundations of a highly-scalable business model and revenue stream.
Today, the Board of Gooroo has also announced that it has completed the shortfall placement of 5,882,375 Ordinary Shares that formed part of the Non-Renounceable Rights Issue, raising around $323,531 before transaction costs.
As per the company’s announcement, the placement of the shortfall was well oversubscribed, with strong support shown by existing shareholders, demonstrating a firm endorsement of the Company’s ongoing strategy.
The company raised total funds of around $571,214 (before costs) through the Non-Renounceable Rights Issue and Shortfall Placement. The company will use these funds to finance the launch of the Gooroo Marketing Solutions division, facilitate further planning for international expansion, and for general working capital.
Recently, the company signed a commercial agreement with Microsoft Corporation, USA to provide career advisory solution, covering Phase 1 of a global program that could involve the future rollout of Gooroo technology to colleges, universities and schools around the world and it involves Microsoft paying Gooroo for testing and refining the Company’s career planner application.
At the time of writing, i.e., on 15 April 2019 AEST 1:11 PM, the stock of the company was trading at a price of A$0.076, down 5% during the day’s trade with the market capitalisation of ~A$8.33 Mn. In the last six months, the share price of the company increased by around 44.78% as on 12 April 2019.
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