“Success usually comes to those who are too busy looking for it.”
Cuebiq entered the marketplace in 2016, with a mission to provide brands and marketers access to actionable insights derived from accurate and precise location data. It has been a little over a year since our launch and the results have been truly amazing. Cuebiq’s rapid rate of growth and expansion validates our core mission in the marketplace and the importance of high-quality location data.
Our location intelligence platform has the ability to provide brands and marketers the tools they need to achieve their goals. We strive to help our clients fully understand where their targeted consumers are spending time in the physical world.
According to the US Census Bureau’s 2016 Report, 93% of all purchases are still made in-store. It is vital for brands and marketers to bridge the gap between the online and offline world. Until now, brands and marketers have been unable to close the loop between both worlds. What they have lacked is visibility. The need for accurate location data at scale is crucial to bridge the gap – that is what we have achieved at Cuebiq.
Just take a look at a few key metrics that demonstrate how we have disrupted the marketplace:
Our run rate has experienced a 700% growth YOY
70% of our growth is tied to recurring revenue
Our user base has seen a 400% growth – we now reach 1 in 4 US Smartphone users
We have closed a large number of partnerships across a wide range of industries
We have had ZERO partner’s back out of any established partnerships, which validates the quality and precision of our data
In 2015, I tasked my team not only to be “location experts” but also industry thought leaders and influencers. Brands and marketers needed to know why data collection is so important. Without the “right data” it is impossible to create a product that works. The above metrics prove that we have successfully educated the marketplace and have set a strong foundation for continued success.
A Strong Foundation
“The art challenges the technology, and the technology inspires the art.”
The abundance of data available to brands and marketers has never been a problem in the industry, however, the lack of high-quality data presents a massive challenge. According to a recent MMA Study in 2015, Less than 1/3rd of all location data collected through Ad Exchanges is accurate within 328 feet. That means that more than 70% of the data collected via Ad Exchanges are not accurate…not at all.
The foundation of our success is rooted in the major problem facing our industry – the lack of quality and precision. We have emerged as the largest and best location data provider in the industry because of our patent pending SDK methodology. Our data methodology has allowed us to create the largest source of accurate location data available in the US. A source that powers all of our products and empowers our clients to achieve their advertising and business goals.
We have established first-party relationships with over 180+ leading mobile apps that have integrated our SDK, producing a user base that now reaches over 61MM+ unique devices, collecting an average of 100+ data points per day/user. Not only is our foundation built upon our innovative technology but trust and transparency as well. Our privacy compliant collection methodology has earned Cuebiq membership status with the Network Advertising Initiative (NAI), the leading self-regulatory industry association dedicated to responsible data collection and its use for digital advertising. Transparency is built in everything we do and we are proud to lead the industry with our “Gold Standard” when it comes to the collection of location data.
A Look Ahead
“Don’t count the days, make the days count.”
Our goals for 2017 and beyond are clear: Products, People , Real Estate & Innovation.
Products: This year, we are developing a brand new AI driven SaaS platform powered by Cuebiq location intelligence. Not only will we be able to produce real time insights but also deliver forecasting as well. Our platform will allow brands and marketers to monitor verified store visits and trends in real time. From there, they can create mobile audiences, measure offline attribution and leverage consumer visit intelligence to truly understand consumers’ movements in the offline world. We want to give our clients actionable insights that include: where consumers are visiting, their cross-shopping activities, brand affinity, brand loyalty and more all in one easy to use SaaS platform. In 2017, we fully intend to conquer the marketplace and expand our industry leading attribution platform to partners beyond the digital realm to include TV, Radio and OOH partners.
People: We are expanding our workforce to address the rapid growth we are seeing. I am very excited to add talented individuals to our team to help Cuebiq evangelize our products and mission to the marketplace.
Real Estate: In May, we will be moving into a brand-new space in New York – a 5,700 square foot office located in the flatiron district. Once we are settled into the new space, we plan on throwing a celebratory party for our employees and clients. The new office represents all the hard work the team has put in over the past year and validates Cuebiq’s success in the marketplace. On top of that, we are opening new offices in San Francisco and Chicago.
Innovation: As we grow in the marketplace, our industry leading solutions will continue to support our marketing and advertising partners, helping them bridge the gap between online and offline worlds. However, beyond our marketing and advertising partners, Cuebiq’s platform already support clients’ needs across a variety of other verticals such as financial services, mobility, real estate planning and retail. We are very excited to bring the value of accurate and precise location data to our partners across all industries. Innovation is very important to us and we believe location data will be a driving force for all industries in the coming years. Our technology has allowed us to achieve scale, accuracy and precision – unmatched in the marketplace. We are measuring the pulse of America and truly expect to become the leading offline location data provider and the data backbone of the US economy.