How Marketing Tech Startup helps e-commerce
If you don't want to something Sherry from Ticketmaster or dominoes is a pretty good chance you've contributed to the success of our next guest rocked is a marketing technology firms out of here in Sydney that launches the pop-ups
that you receive. Once you make a transaction online has been owned by Deloitte as one of the fastest growing tech companies in the US. It's to by Venture capitalists to be the next unicorn to emerge out of Australia
and CEO Bruce become and joins us here in Sydney first great to have you tell us about the business, you know, exactly the core of its profitability and How it came about so it came about I spent ten
years building and starting and running Jetstar in in Australia. And then through the latter part of that. I came up with this thought that you know, most suggests that profitability was based on getting smarter in the checkout experience
and we looked around the world to see if there's technology to actually make that better at a one-to-one. So level just I had about fifty two things. I'll try to sell to Consumers through the checkout process and consumers
would only engage in about three of them for working out what three were relevant for each consumer was really really tough. And that's the problem. We solve for e-commerce companies all around the world. So where to from here
me but you based on sound intensity, but what do you say expansion opportunities globally? Well seventy percent of our revenues in North American elm. So we're very much a global business. We're live in nine markets. We just added
Japan. We've got 13 markets in Europe. We're going to roll out over the next two years. We're live in three markets in Europe now and we're live in Asia pack in Australia, New Zealand Singapore, so lots of geographical
growth but a lot of our growth Going to come through getting deeper into the transaction and solving internal problems for a lot of e-commerce companies driving lifetime daddy repeat purchase and improving their basket size USB C funding at a
decade High. How does it look over in Australia for a small start-up like yourself? Well, I think the VC markets very strong in Australia, you know, it's great to see the over the last 10 years has been a
flourish of new funds start and I think some of the tax treatments he has really helped create an Ecosystem that's fueling a lot of startups in the Australian market place. I think the culture is good for startups as
well. And so you see a lot of talent emerging from the marketplace and a lot of new ideas. There are a few troubling Trends though. If you look at our D credit Crackdown IP, Australia problems, we've had getting
Talent into the marketplace and immigration laws. There are a few things that startups are worrying about. Yeah you in fact won a legal challenge recently again to IP Australia what the significance of this for Australia's a cell phone? Vacation.
Yeah, I think it's actually got interesting repercussions. Globally. We decided that IP Australia went went to war on software patents and we basically said look software and its own rights not the enemy software is going to be a
niche cook component of every invention pretty much going forward out of this tray and Marketplace and globally and to rule out software as a painful subject matter. We just thought was ridiculous. It doesn't really affect our business but
we saw a whole new generation of businesses coming out of the region that Needed support and needed IP Australia step up and protect them because I Pious tracers to purpose one with one of which is a protects businesses
and IP in the Australian market place, but more importantly for startups it acts as a Gateway as they go Global as the first Port of Call when they register intellectual property and it's been a lot of concern overrides
you would well no the revolving door nature of Australian politics and more specifically the policy paralysis that leads to write like coloring books one of you know, I say your people in terms of tech entrepreneurs who have expressed.
About a lack of innovation when it comes to energy and green energy in particular. Is there a bigger role that the private sector in Tech can play in driving better more Innovative policy. Hey, look, I think we can
agitate. I mean we can do things like we've done in terms of taking a government call when we see them make the wrong call, but I think ultimately here lack of leadership will cost us in the long run.
I think the cost of that lack of Australian political issue. It's not going to cost us now the cost will happen in 10 or 20 years time, you know the failure policies around our Rd immigration and you know
Economic Development are the things that are going to cost us dearly now. They're the things that will cost the Next Generation. How hard is it for an Australian stop to compete globally but particularly in the US. Well, I
think any business going globally is challenging are one of them coming from gesture and building a brand globally and then taking Rock globally. It's a really tough challenge time zones cultures building a brand getting a team forming a
network in Marcus. You've never been in is tough. So for any Try and stop us going globally the more support we can give them the better and it's something. That I think you know the government has a key
role to play button. Does it Rd incentive IP Australia and intellectual property protection helping Australian businesses with immigration and talent there's a whole raft of things that they should be actively supporting. There's a future in 10 or 20
years. It's not going to be cold future is going to be, you know, clean energy Tech Innovation and other things that are coming out of this Market. Yeah, lots of chat about AI lots of chat about in particular
when you take a look at the Warriors at Google and Facebook us face both Regulatory and And just to do with data privacy and the reputational hit that they've taken right? What's kind of the next big things you
think you could identify one Trend going into next year the next five years. You look I think I think when you see big data coming to actual actual use cases, we haven't really seen Big Data combined with a
I produced really meaningful businesses. The future of that is going to be enormous like the ability to make one-to-one decisions about consumers in the transaction like we do for instance is one small. Use case has the ability to double
the profitability of every e-commerce transaction globally and that's one example, you know of an application of AI but there's millions of them that you can use and the combination of big data in real-time with AI is very powerful.