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Maven Reports Q2 Financials, Releases Technology Platform, Anticipates Network Rollout in Q4
SEATTLE--(BUSINESS WIRE)--Maven (theMaven Inc.) (ticker symbol:MVEN) today announced it has signed and is in the process of integrating more than 60 channel partners (“Mavens”) into its coalition and that second quarter expenses tracked with internal forecasts as the company builds toward a network rollout.
Maven’s platform was unveiled in May and the company plans a formal launch in the fourth quarter.
Click here for the complete list of Mavens signed to date. All will operate exclusively on Maven’s technology, advertising and distribution platform.
Maven’s strategy is to deploy an invite-only coalition of expert, passion-based channels within 20 broad content verticals – including politics, investing, fashion and entertainment – that each extend into numerous subcategories.
“Looking ahead, we seek to partner with 1,000 high-scale, category-specific Mavens – partners with organic, highly engaged audiences – over the next few years,” said Maven CEO James Heckman. “We envision more than 100 million organic, unique users – each engaging with independently operated Mavens on the network.
“The beauty of our platform is the efficiency. Unit costs come down as each new channel comes into our coalition because fixed costs remain relatively static as we grow,” Heckman added. “Moreover, this is a proven model – one that our leadership and engineering team began pioneering two decades ago; this is simply our next generation. This powerful coalition of professional leaders, all operating on a single platform, brings together massive scale, high efficiency and market-leading engagement.”
“Our veteran, product-focused team came together with a clear vision and began creating value on day one. In less than one year, we architected an end-to-end business and technology platform that will support millions of highly engaged consumers and in turn, reward our shareholders,“ Heckman added. “We are on track to meet our internal 2017 goals, both for number of Mavens signed and activated. It’s also important to note that each Maven is a driven, passionate expert in their field, with a devoted audience.”
Q2 2017 Strategic Initiatives
Maven, during the second quarter of 2017, focused on three key strategic initiatives: (1) developing our technology platform, (2) business development to sign new Mavens to our network and (3) launching operations with certain Mavens.
Developing Technology Platform
Since the Company’s founding in July 2016, the primary focus of the Company’s software engineering team has been building the world-class publishing and social media technology platform. Since inception, Maven has invested nearly $2 million in the technology platform.
The following information was filed by Themaven, Inc. (MVEN) on Wednesday, August 23, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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