The company’s shares were last trading 40% higher intra-day, at $0.007.
ShareRoot’s cloud-based UGC platform allows customers to search for user-generated media content across a range of social media platforms and request permission to use the content.
The customers can then effectively utilise these materials as part of their marketing campaigns.
ShareRoot’s platform helps customers avoid the legal disputes and intellectual property headaches that can otherwise emerge from sharing user-generated content as part of their marketing efforts.
The company’s user base has nearly doubled quarter-on-quarter, up from just under 100,000 active users at the end of the March 2017 quarter.
This increased engagement improves the overall effectiveness of client marketing campaigns and drives sales, leading to an increased visibility and awareness of ShareRoot’s UGC platform in the marketplace.
ShareRoot recently appointed UGC industry expert Scott Sorochak as chief revenue officer.
Sorochak was senior vice president of global sales and marketing at LiveFyre, a direct competitor of ShareRoot, and helped it through an accelerated growth period prior to its acquisition by Adobe in 2016.
ShareRoot’s total number of campaigns, a key metric for the company as it scales up its customer base, reached 110 during Q1 FY2017, up from 57 in Q1 FY2016, a 93% increase.