SOURCE: Cardlytics

Cardlytics

February 24, 2010 11:16 ET

Cardlytics Sees Continued Rapid Growth in 2010, Doubles Office Space

Company Expands Staff, Office Space to Accommodate Increased Adoption of Transactional Marketing Platform

ATLANTA, GA--(Marketwire - February 24, 2010) -  Cardlytics announced today that it has experienced strong demand for its transactional marketing platform since its launch in April 2009, signing a number of leading financial institutions.

As a result, the company is more than doubling the size of its existing office space -- adding 8,000 square feet to its current 6,000 square feet -- to accommodate the rapid adoption of its services. It is also in the process of adding 12 additional sales executives through the first quarter 2010 -- opening sales offices in Boston, Dallas, St. Louis, Orange County, Calif., Chicago, Tennessee and Florida; as well as expanding the sales force at the headquarters in Atlanta.

As of Dec. 31, 2009, the Cardlytics platform had more than 50 merchants delivering offers to nearly a half million consumers based on their transaction data. Response rates for many retail campaigns averaged 15 percent at the end of 2009, with some achieving response rates as high as 40 percent. Given the positive results and strong pipeline of financial institutions in the on-boarding process, Cardlytics executives expect the company's consumer base to reach 10 million by the end of the third quarter 2010.

In 2009, Cardlytics solidified a strong executive team. Notable additions include adding interactive media expert, Hans Theisen, as chief revenue officer; former CheckFree vice president, David Torgerson, as senior vice president of bank sales; Rod Witmond, a seasoned marketing executive, as senior vice president of Product Management and Marketing; and Andrew Hamilton, a 20-year IT professional with experience at WebMD and IBM, as senior vice president of engineering.

"2009 was an important year for Cardlytics, as we were able to demonstrate to national and local brands that we could provide an innovative and extremely effective means of consumer targeting," said Lynne Laube, president of Cardlytics. "Additionally, we've been able to deliver merchant-funded rewards that are more valuable than traditional credit and debit rewards models to our financial institutions."

About Cardlytics
Through a highly relevant, "market-of-one" approach, Cardlytics unites banks and merchants to provide rich rewards to customers based on their individual purchase behavior. Its technology tracks consumers' actual purchases, providing the first digital channel that can guarantee offline sales and help consumers realize savings of hundreds of dollars per year on the products they purchase every day. The rewards improve consumers' banking behavior by increasing usage, reducing attrition and strengthening engagement with online banking. Cardlytics' multi-channel approach includes online banking, SMS, e-mail, mobile, online-mall and social networks. For more information about Cardlytics, visit www.cardlytics.com.

Contact Information

  • CONTACT:
    Heather Sugg
    For Cardlytics
    813-374-6362

    Alex Shorter
    For Cardlytics
    678-781-7207