Thred receives positive early data from Sweep app launch
Thred (ASX:THD) has received positive early data supporting a successful launch of its Sweep app earlier this month.
Early statistics show over a 430% increase in user dwell time and over a 400% increase in daily active users of the Sweep app.
Importantly, 90% of users are engaging in Geochats, which is a unique new feature that allows users to unlock exclusive chats based on their location.
An 800% increase in private message usage has increased average messages sent per day per user to 11, which compares to Snapchat’s comparative stat of 4-5 in September 2016.
Preliminary rollout of Geochats has commenced with 14 venues in Sydney, three in Melbourne and one on the Gold Coast for Schoolies the following week.
Sweep is one of only two authorised external apps being promoted at the Schoolies event.
The roll-out of three key features
Thred plans to release three key features for its recently launched Sweep app beginning with Phase 1 Geochats.
Phase 1 Geochats has commenced with testing and trials being conducted over the next two to three months.
During this period, data feedback and user testing will drive the product enhancements.
Notwithstanding the trial nature of this phase, revenue will be generated by several venues as the business offerings expand.
Phase 2 is called Augmented Reality (AR) Discovery and Phase 3 is is called AR Content Creation.
Phase 2 AR Discovery will allow Sweep users to discover augmented reality content generated by Sweep.
Phase 3 AR Content Creation will allow Sweep app users to create their own media content such as photos and reviews and post it in Sweep for other users to discover.
AR refers to when a user is looking through a smartphone's camera and what they see has been ‘augmented’ – meaning something has been digitally added or changed.
Thred plans to use its enterprise business, Agent Reality, to deliver near-term revenues alongside the Sweep app.
Thred has commenced and is quickly progressing the business development process for Agent Reality, with continuous discussions with prospective clients.
From discussions, it is clear that interest and demand for augmented reality applications in the enterprise area in marketing, consumer engagement and retention, is very strong and growing.
To enhance the company’s capabilities, an experienced business development executive has been appointed to lead and drive the Agent Reality revenue plans.
Thred is now focusing its attention on Agent Reality sales revenue and Sweep app user acquisition and plans to update the market regarding progress.