ShareRoot Ltd (ASX:SRO) will be shifting into profitability after the completion of new features for its user-generated content (UGC) legal rights platform.
The UGC legal rights platform works with brands and digital agencies to easily find and legally source UGC such as photos and videos.
The company’s planned development of new features for the UGC platform is expected to be completed by the end of this month shifting the business unit into profitability.
Director Marc Angelone remaining as a technical consultant
In line with the completion of this platform, Marc Angelone, co-founder, director and chief technical officer has stepped down from the board.
Positively, Angelone will remain with the company and move into a consulting position.
The move allows Angelone to focus on working with newly appointed advisors Paul-Olivier DeHaye, Jerome Groetenbriel, and Jason Weaver on strategic initiatives.
With the completion of the development of its UGC Legal Rights Management platform, ShareRoot is preparing to launch a beta program for its new MediaConsent platform.
READ: ShareRoot targeting multi-billion industry with roll-out of MediaConsent platform
MediaConsent is a first mover customer identity management (CIM) platform that solves a core problem for brands and companies caused by new data privacy laws and regulations.
Growing concerns around personal data and privacy have increased the responsibilities of companies to more effectively control data collection and marketing practices.
MediaConsent is designed to solve these data privacy issues for individuals and customers and provide ShareRoot with a competitive advantage in the growing multi-billion dollar CIM market.