Transcription of Finance News Network Interview with OpenDNA Limited (ASX:OPN) Managing Director, Jay ShahCarolyn Herbert: Hello I’m Carolyn Herbert from the Finance News Network and joining me from soon-to-be listed business intelligence platform, OpenDNA Limited
(ASX:OPN) is Managing Director, Jay Shah. Jay, welcome to FNN.
Jay Shah: Thank you Carolyn, it’s good to be here, thank you.
Carolyn Herbert: Can you start by giving us an introduction to the company?
Jay Shah: OpenDNA allows businesses to better understand their customers, to be better able to understand the interests of their customers. It’s a business intelligence tool, looking at the psychographics. Which is the understanding of interest profiles in real time, and the capacity to engage with any given piece of content.
Carolyn Herbert: How long have you been going?
Jay Shah: We started the company in 2014 in London. And since that point, we’ve expanded into the United States, South Africa, Singapore and in Australia. And we’re listing on the Stock Exchange in the next month.
Carolyn Herbert: Now to technology in the market, what does your solution provide and why is it in demand?
Jay Shah: As more and more businesses go online, they’re trying to figure out - how do I start in my approach to marketing? How do I better target and engage my customers with the right information? And knowing that the products, or the content that I’m actually going to present to my customer, is going to be relevant to that customer. This is where OpenDNA comes in. We understand the interest levels of every user. It’s basically the psychographics, the understanding of interest levels in a granular level of detail, in real time and understanding the propensity to engage for that customer.
Carolyn Herbert: Who are the potential users of your solution?
Jay Shah: Potential users are anyone that actually pushes product, or content to customers. In terms of industry segments, you’re looking at publishing, entertainment, finance, insurance, e-commerce that’ll be able to utilise OpenDNA.
Carolyn Herbert: What’s the company’s growth strategy going forward?
Jay Shah: We’re expanding sales pipelines in the United States and Asia Pacific market, through strategic customer interactions. As well as signing up a lot of channel partners and resellers that actually integrate OpenDNA’s technology, into the systems that they build for their clients.
Carolyn Herbert: What’s your competitive advantage?
Jay Shah: There are many companies that offer personalisation, or big data analytics. Where we’re completely different is we don’t look at aggregated data, we look at data surrounding an individual. What is it that makes it interesting for that user, what is relevant for that user? We build the truly single customer view. That is our competitive advantage.
Carolyn Herbert: Where will the funds go and what’s your priority for FY17?
Jay Shah: The funds will be used to expand our business development operations in the United States, Singapore and Australia. As well as into further development of our technology, and allow for massive scale and growth.
Carolyn Herbert: Looking at financials, how do you generate revenue?
Jay Shah: OpenDNA’s business model, in terms of our pricing structure, is based on two components. There is a fixed component based on a monthly licence fee, on the number of users a company has. And the second component is a variable component, based on the number of data connections had, or a percentage of the revenue that’s generated. What it means is that we have a pricing structure that will be good for the smallest of companies, to the largest organisations.
Carolyn Herbert: Finally Jay, what’s your long-term ambition for the company?
Jay Shah: My goal for OpenDNA is to spread OpenDNA technology into as many companies, in as many industries as possible. Allowing businesses to better target their customers, attract new customers, retain existing customers, to increase their revenue and reduce their costs. The more companies and more platforms that we power, the more powerful the tool OpenDNA becomes.
Carolyn Herbert: Jay Shah, thanks for the introduction and good luck with the IPO.
Jay Shah: Thank you very much Carolyn.
Ends
