Please describe the scope of their involvement in greater detail.
There were three main components of Moburst’s work. The main and most important element of our partnership with Moburst was the product assembly. Basically, they had one of their very talented engineers actually sitting within our development team and helping us to fine tune our offering. Very much from the user perspective, they were the user advocate, I would say. Whenever we were fighting over certain feature, they would present us the customer and their needs, and made sure that whatever we do would be aligned with their happiness and their satisfaction.
The second field, which was very important for us, was also the app store optimization where our challenge was actually quite different. Unlike most apps that get a ramp up period of several months or even a few quarters to make it to their goals, we had a week. Basically, the New York Fashion Week takes place over eight days. This is the main period where we needed to make sure the audience is getting on the platform, using it, and engaging. As part of that, they did lots of research for us to make sure that we had a very clear segmentation of the kind of audience we wanted to attract to our app. They made sure that the description, the key words, and everything else, was aligned with our messaging, making sure that it attracted the most users possible.
The third field was around creative and media buying. Basically, they helped us with the creative design ideation of banners, videos, and articles that we’ve put in in order to attract users. That included not only the creative part, but also all the analysis around placement.
I must say that above those three instances of services, the main thing that we got from Moburst is an expertise of getting around in that market. We went through due diligence before choosing them, and having them onboard was the kind of support that we needed in order to run this very ambitious project. I think we really found ourselves a partner rather than just a service provider.
How did you come to work with Moburst?
We had three or four companies we were looking at. The main determining factor was that they gave us a very comprehensive and very cohesive approach to the project. They really brought in a full solution with a very detailed and thorough analysis of our needs and areas of interest. For instance, the ASO [app store optimization] wasn’t on our menu when we first started looking for companies. Even the fact that that they brought this up and showed us what kind of impact the right ASO could bring to our product was very meaningful.
Secondly, was the fact that they put in an account executive that was managing our portfolio, day in and day out, and orchestrating all the efforts inside Moburst and with AGT, to make sure that everything was aligned.
Lastly, Moburst gave us the feeling that they are the kind of company that we could trust and the kind of company that wasn’t there just to make a few bucks and go away, but really build a strategic partnership. Their experience in that market was very meaningful for us. We spoke to several existing customers, which had very promising words about them and the kind of relationship they built. By the end of the day, I must say that their Chief Executive Officer is one great salesman. It was the kind of relationship that you build between two executives that creates the confidence that you want to work with that company going well into the future.
Could you provide a sense of the size of this initiative in financial terms?
I can’t really reveal the numbers, but they are very large numbers.