Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) Inc, a provider of real-time data analytics through artificial intelligence, has announced the relaunch of the Grocery Coupon Network (GCN) website.
The Vancouver-based data intelligence company inherited the Grocery Coupon Network through its high-profile Qples acquisition. GCN was originally launched back in 2009 and quickly became one of the fastest growing and top-ranked grocery coupon websites online.
Currently, GCN boasts 231,164 active newsletter subscribers. It also has 133,000 Facebook likes — 91% of which are from women and 97% are from the US — both demographics that consumer packaged goods (CPG) companies want to target.
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Most importantly, the popular site has seen over 14 million unique visitors since January 2016.
Fobi explained that GCN allows CPG brands to connect directly to millions of coupon lovers through a website designed to help users find relevant products and coupons of interest.
Qples by Fobi is one of the only organizations currently that can provide both digital and print at home coupons based on the new 8112 Universal Coupon Standard from The Coupon Bureau (TCB) that can be redeemed through a mobile phone. This reduces the chance of coupon fraud. The new coupons will be offered through GCN, the GCN App and through GCN affiliates.
In a statement, Eddy Watson, president of Qples by Fobi said: “We are excited to re-launch the GCN website which plays a critical role in our coupon ecosystem by giving consumers a destination for discovering, saving, and organizing existing Qples coupons and upcoming Universal Digital Coupons.”
He added: “With the combined capabilities of GCN, the Qples Builder Manager Coupon Portal, and Fobi Wallet pass capabilities, we are poised to deliver a comprehensive solution to clients that allow them to easily reach their own consumers in ways they never have before.”
The Average Revenue Per User metric (ARPU) is a widely used formula to calculate the average revenue received per user over a period. To begin with, Fobi expects an ARPU of $3-to-$5 per user to start. However, it anticipates this growing to $10-to-$15 per user once Qples and GCN have been fully integrated with Fobi’s Wallet Pass solution.
Fobi is already executing on a plan to boost the product and value proposition through offering the GCN coupon community real-time analytics and insights along with direct delivery of coupons to Fobi Wallet passes. Fobi will also provide an enhanced user experience, and the CPG Brands will benefit from the Fobi data and the ability to access the GCN coupon community.
In addition, Fobi has launched a project to expand the size of the GCN coupon community which will increase the revenue per deal. Fobi plans to highlight the launch of the new 8112 universal standard coupons, together with new promos that offer more value to the community.
Fobi founder and CEO Rob Anson said: “I am on record as stating that the Qples acquisition was a key strategic piece of the puzzle and will ultimately become one of our largest sources of revenue.”
He added: “With this relaunch and as we complete our full integration over the coming months, our shareholders will soon understand and realize what I was so bullish about.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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