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Thred shares climb higher ahead of app release

Perth-based Thred debuted on the ASX in June 2016 after a reverse-takeover.
Table showing app downloads per month
Further information regarding the app release is expected shortly

Thred Ltd's (ASX:THD) shares have traded up 40% over the past week to $0.016, as the company prepares to release its Sweep app over the coming weeks.

The new Sweep app will be an evolution of the existing Thred app and not a separate app.

Thred is a free social app which brings together all of a user’s contacts in one simple place.

The app uniquely centralises messaging, mail and more, into one simple ‘thred’.

Since the app’s May 2017 launch, it has achieved over 15,000 downloads and is on target to meet its end of November download target of 18,000.

What is Sweep?

Sweep is an evolution of the Thred app.

Sweep uses geo-location, messaging and augmented reality (AR) to engage users and deliver contextually relevant content.

In this context, geolocation refers to a user's smartphone being able to access its geographic location.

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.  

Geolocation and AR are the two primary mechanisms of the Sweep app.

Each provides a new way for brands, businesses and users to engage and create.

An example of geolocation and AR being used together

The Pokémon GO game played on smartphones is a good example of geolocated augmented reality.

Users walk around in the real world as the game requires your geographic location (geolocation).

A user may be walking through a park looking through their smartphone’s camera and find a Pokémon in the park (augmented reality).

Sweep to have new features

The rebrand from Thred to Sweep will include the release of geo-locked chats as the first new features.

The nature of geo-locked chats at its launch will require event and venue specific partners to promote the Sweep app for free, as it facilitates a unique and exciting communications portal for the recruited venue.

Commercialising geo-locked chats

Once initial trials have successfully concluded and in support of its commercial model, Thred expects fixed and variable fees from these venue and event specific activations.

The Sweep team has established several test locations in Sydney which include Surry Hills, Newtown and Darlinghurst as well as selected venues on the Gold Coast.

Following this, Sweep will employ an evidence-based method to deliver the rollout of geo-locked chats in a way that will yield the greatest uptake of users.

Sweep will then use crowd-sourced suggested locations, generated from users and data on venues.

Thred recently released an explanatory video aimed at target users of its new Sweep app.

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Thred Ltd Timeline

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