DGTL Holdings Inc (CVE:DGTL) (FRA:A2QB0L) revealed its plans on Wedensday to break into the lucrative social media sectors via its subsidiary Hashoff LLC.
The New York-based firm said it plans to raise up to C$1 million to fund software development of Hashoff’s Software-as-a-Service (SaaS) technology platform to service popular apps like TikTok, Snapchat, Twitch, Triller, and Reels.
Hashoff is an enterprise level self-service content management system used by global brands for localized marketing campaigns. The platform has recently added major accounts, including global leaders in the online sports fantasy gambling, QSR (quick-service-restaurant) delivery mobile application, online EDU (education) and e-sports marketing sectors.
In a statement, DGTL said that the project is in response to demands from both potential and existing clients to extend Hashoff’s platform to video-based applications, which are consistently ranked amongst the top most downloaded apps.
TikTok, for example, has experienced a 550% increase in US adults using the platform over the last 18 months, in addition to hundreds of millions of active users in 155 countries.
Under the terms of the financing, DGTL will issue up to nearly 2.9 million shares priced at C$0.35 per share, for gross proceeds of $1 million.
DGTL specializes in accelerating fully commercialized enterprise-level SaaS companies through a combination of unique capitalization structures.
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