19th December 2019 / Leave a comment
Welcome to our first Investor Newsletter. Going forward we will aim to give you regular additional insight into developments at Mirriad and a glimpse of our exciting future plans.
In March we embarked on a transformative strategy reset, setting incredible pace for the rest of the year. This new approach to growth is balanced by a synchronised demand and supply side strategy, alongside a vision for our technology that will further exploit Mirriad’s uniqueness to unlock scale. It gave us a new and strong focus on China, the UK, France, Germany and, of course, the US as our main markets to develop.
We have changed and accomplished a lot within a remarkably short period of time, thanks to the clarity of our strategy and the steadiness in how we’re executing against our plan. |
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| ENHANCED TECHNOLOGY |
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| Developing our technology to integrate with existing industry frameworks and core systems has been at the centre of our mission this year. Our algorithms are now able to detect and process multiple contextual parameters at high precision for identification of advertiser relevant inventory, and we’ve also completed Segment Streaming Technology APIs that allow scaled delivery to the systems used widely by our partners. These developments are key milestones towards further accelerating scale and automation of Mirriad. Below you can find details on our upcoming Technology Showcase being held in January and we hope to see you there. |
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| MULTIPLE NEW CONTRACTS SIGNED |
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| Our strategic reset led to a wealth of new contracts: |
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| DRIVING GROWTH |
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These deals have increased demand and interest in our technology in a number of exciting ways:1. The Tencent partnership has been developing very positively from day one, with leading advertisers such as Luckin Coffee, C-Trip and Mengniu Dairy running continual campaigns.
2. We have a new level of demand side interest in the US from 17 of the top 50 US advertisers.
3. We have open contracts with 7 major content platforms in the US and Europe and are in discussions with 5 more streaming services to test our platform.
4. We are receiving a substantial interest from the media, with recent coverage in Business Insider, Beet.TV, New Scientist, MediaPost, and Campaign US, confirming trust in our solution as a future-proof alternative advertising stream. |
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| GLOBAL LEADERS JOIN |
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| In April we announced a radical simplification of the organisation, which included the closure of our commercial operations in Brazil and India. As part of this plan, we welcomed global leaders to the team, namely in our technology and product divisions as well as a new leadership in the US. Details of some of our new team members are outlined below. |
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| John Pearson |
| Non-Executive Chairman |
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| John joined the Board in October 2017 and took up the chairmanship of the Company’s Remuneration Committee following the IPO. He became Non-Executive Chairman in 2019. He has 25 years of experience in Advertising, was the former Chairman of Shazam, and has had a long history in commercialization of media properties and general business development for rapidly growing companies. |
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| Bob Head |
| Non-Executive Director |
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| Bob joined the Board in June 2019 and has a wealth of experience acting as a CEO and Non-executive Director to a variety of technology and digital businesses. Bob chairs Mirriad’s Audit and Remuneration Committees. |
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| Niteen Crawford-Prajapati |
| CTO |
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| Niteen Crawford-Prajapati joined Mirriad in April 2019 and is responsible for the technology vision and for accelerating Mirriad’s core technology development as well as the strategy for integrations with global broadcasters and the digital video ecosystem. With over ten years of experience in the digital media and technology space, he joined following a spell as Chief Architect at the European Broadcast Exchange, where he designed, and built the EBX technology offering from the ground up. Prior to EBX he spearheaded AppNexus and FreeWheel Europe expansions. |
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| Mark Melvin |
| EVP, Sales and Brand Partnerships |
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| Mark Melvin joined Mirriad mid March 2019 and is in charge of developing the US program and advertiser and agency market for the company. Mark has more than twenty years of experience in the TV and digital media advertising space, following sales and management positions at Fox, ABC, Comcast, and most recently at Music Choice and Fuse Media. |
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| TECHNOLOGY SHOWCASE JANUARY 2020 |
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Overall, we are hugely optimistic about what the future holds for Mirriad in 2020 and beyond and we feel very encouraged by the steady progress that we’re making.To share more on this, we’ll kickstart the year with a technology showcase which we hope you can attend on 16 January, starting at 9:00 with coffee and registration, and ending by 12:00. The event will take place at The Soho Hotel, 4 Richmond Mews, Soho, London W1D 3DH.
Email investorrelations@mirriad.com to register interest, as seating is limited.Thank you for your sustained support and partnership. Wishing you a joyous holiday season and a Happy New Year!
Stephan Beringer and John Pearson
CEO and Chairman |
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