BOULDER, Colo., March 23, 2018 (GLOBE NEWSWIRE) — Clip Interactive, LLC (Clip), a leading digital media and marketing technology company, announced today that it intends to enter the public markets with its commercial free radio technology.
“We believe building our core commercial free radio technology and related business under the framework of a developmental stage public company will broaden our messaging to a wider audience and allow us to scale our business with access to more sources of growth capital that have an interest in our business,” stated Jeff Thramann, founder of Clip Interactive.
Sirius XM has built a $29B business by giving consumers a paid option to avoid commercials. Yet, to over 270 million radio listeners each week, the appeal of local content and the community tie of local radio remains a preferred audio option. Clip is aggressively working with radio to provide listeners a subscription based commercial free radio option across thousands of the country’s favorite local stations. The product is called “Magic”.
Clip Interactive has a long history of partnering with radio to leverage technology to reinvent the radio listening experience and create advanced marketing technology products for radio advertisers. “We have a big vision for how radio wins in the digital world both with listeners and with advertisers. We have deployed large amounts of private capital alongside a talented team of innovators and leaders to position Clip for execution of this vision,” said Jeff Thramann. “Access to capital in the public markets as we deploy and rapidly scale Magic and our full portfolio of marketing technology products will be critical to efficient execution.”
In addition to reinventing the listener experience, Clip Interactive is the industry leader in coordinating the placement of digital ads with on-air ads. Clip leverages this core technology along with machine learning algorithms to create the intelligence behind the first marketing technology products that allow radio advertisers to measure audio and digital campaign results in real time, adjust executions, optimize performance, maximize ROI and accurately attribute the impact audio dollars have on a consumer’s journey to a desired action.
“Radio has two big challenges. Media consumption is fragmenting as listeners have more content options, and ad dollars are flowing to digital because it is targeted and measured. Clip is addressing both issues by reinventing the radio listening experience and delivering the first comprehensive marketing technology platform that can target and measure like digital,” said Michael Lawless, CEO of Clip Interactive.
The Company engaged DEVCAP Partners, LLC in October 2017 to assist in arranging the financial, legal and other professionals required to provide the financial analysis, investor presentations and SEC filings to enter the public markets. Clip is now in discussions with several investment bankers and public company oriented outside investors and expects that its public listing will come with a capital infusion from existing shareholders and new investors over the course of the next 2-4 months.
“We have a full schedule of differentiated product releases starting with Magic, our commercial free radio offering. Magic alone has the capability of being a massive product that can change radio forever, for both the user and the broadcaster,” stated Michael Lawless.
About Clip Interactive
Clip Interactive is a digital media and marketing technology company that is reinventing the audio listening experience and bringing measurement, targeting and attribution to the audio advertiser.
For more information, please visit www.clipinteractive.com.
As with many fast-growing companies, our growth is dependent upon adequate funding to cover the expenses related to the business. We have been able to obtain this funding to date, however, should we be unable in the future to obtain appropriate funding to pay our expenses and drive growth through a sales effort, our growth, and our financial stability, may be negatively impacted.
This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to our financial condition, results of operations and business. These forward looking statements can be identified by the use of terms such as “believe,” “expects,” “plan,” “intend,” “may,” “will,” “should,” “can,” or “anticipates,” or the negative thereof, or variations thereon, or comparable terminology, or by discussions of strategy. These statements involve known and unknown risks, uncertainties and other factors that may cause industry trends or our actual results to be materially different from any future results expressed or implied by these statements. Important factors that may cause our results to differ from these forward-looking statements include, but are not limited to: (i) changes in or new government regulations or increased enforcement of the same, (ii) unavailability of desirable acquisitions or inability to complete them, (iii) increased costs, including from increased raw material or energy prices, (iv) changes in general worldwide economic or political conditions, (v) adverse publicity or negative consumer perception regarding our sector in general, (vi) issues with obtaining customers, (vii) litigation and claims, including intellectual property and other types, (viii) disruptions from or following acquisitions including the loss of customers, (ix) increased competition, (x) slow or negative growth in the economy or our sector, (xi) the loss of key personnel or the inability to manage our operations efficiently, (xii) problems with information management systems, manufacturing efficiencies and operations, (xiii) insurance coverage issues, (xiv) the volatility of the stock market generally and of our stock specifically, (xv) increases in the cost of borrowings or unavailability of additional debt or equity capital, or both, or fluctuations in foreign currencies, and (xvi) interruption of business or negative impact on sales and earnings due to acts of God, acts of war, terrorism, bio-terrorism, civil unrest and other factors outside of our control.