News and Announcements
Collaborate Corp Ltd (ASX: CL8) Experience Strong Growth, New Products & Big Partners
- Published January 11, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Record sales results in 2017
- Strategic investment from RACV raising $2m at a 20% premium to share price
- Exercise of 100% of listed options raising $2.5m
- Hugely successful collaboration with Subaru for the launch of the Impreza
- Strong growth in Uber business
- Launch of new Mobilise market place in association with Aon and Housing Industry Association
Collaborate achieved strong growth in 2017 supported by new industry partnerships, significant product launches and an expanded marketing campaign.
RACV made a $2m strategic investment to leverage the benefits of the sharing economy and RACV DriveMyCar was launched to RACV’s 2.1 million members and all Victorians. $2.5m was raised though exercise of 100% of the CL8O listed options. Wise Owl published a research report highlighting opportunities for Collaborate’s DriveMyCar, MyCaravan, Mobilise and PeerPass brands and setting a price target of 6 cents.
A hugely successful collaboration with Subaru for the launch of the Impreza delivered record sales and was acclaimed as one of the top 5 launch campaigns of 2017 by Mumbrella. This was followed by an even larger campaign featuring the Subaru XV.
The rental solution for Uber drivers continued strong growth and was further boosted by a new product developed in conjunction with and promoted by Uber for drivers requiring temporary access to a vehicle while their own vehicle is being serviced or repaired.
Mobilise.com launched to monetise the billions of dollars of idle assets in Australia and provide access to a wider variety of assets in more locations at lower prices. Mobilise is supported by Aon, the world’s largest insurance broker and a marketing partnership was formed with the Housing Industry Association to target opportunities in the building and construction industry.
Collaborate finished 2017 with a strong growth trajectory, significant cash reserves, new revenue streams to exploit and an enviable roster of strategic partners which can help to propel the business to new heights in 2018 and beyond.
About Collaborate Corporation Limited (ASX: CL8)
A leading ASX listed player in the sharing economy disrupting the car, caravan and equipment rental industries. Collaborate enables asset owners to generate income from idle assets by safely and easily renting them to others. We are embracing the trend from ownership to access and reinventing the way that assets are owned, monetised and used through partnerships with Uber, Subaru, Orix, Aon and Trivett Automotive.
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