VRXWF - Unlocking digital success: How MediaValet drives 34% revenue growth in digital asset management
(NewsDirect)
MediaValet CEO Robert Chase joined SteveDarling from Proactive to unveil a significant rebranding effort,featuring a new logo and a fully redesigned website.
Chase shared the details of this relaunchand discussed the company's strong second-quarter financialperformance. The rebrand includes a modernized logo, reflecting thecompany's evolution and growth, and a revamped website thatshowcases the MV DAM platform's capabilities and highlights whyMediaValet was ranked as the number 1 Enterprise DAM platform by G2Crowd.
Regarding the company'sfinancial results, MediaValet reported robust 2Q growth, with revenuereaching $4 million, representing a 30% increase from 2Q 2022 and a 5%sequential increase from 1Q 2023. Chase attributed this growth to bothnew customer acquisitions and the favorable exchange rate, as thestrength of the U.S. dollar relative to the Canadian dollar played arole.
Importantly, gross marginsremained strong at 81%. Chase explained that this margin percentagewas influenced by factors such as higher support personnel costs, agreater proportion of professional services revenue, and the timing ofcustomer adoption ahead of revenue expansion.
Overall, therebranding and positive financial performance underscoreMediaValet's commitment to providing cutting-edge DAM solutionsand its continued growth in the digital asset managementmarket.
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