MDC Partners CEO Penn Ponders Spinning Off Line Of SaaS Products

MDC Partners is gaining some traction with a new line of SaaS products, developed in collaboration with its prospective merger partner Stagwell Group.

One of those products is PRophet, an AI PR tool that helps determine how a piece of news will be received before it’s pitched. The company began selling it in January and MDC CEO Mark Penn told analysts earlier this week that five clients have purchased it and 28 others are using it on a trial basis.

“These digital products represent a whole new revenue stream made possible by the combination,” of the two companies, said Penn. That revenue could add up to $75 million annually in four years, he said. Another product with “solid potential,” said Penn, is an influencer marketing platform called Koalifyed that was developed with P&G.

There’s also a new data tool that combines polling and first- and third-party data designed to create audiences that Penn said has the potential to be a $1 million annual asset.

Another possibility he added is that with success the SaaS line of products could be spun off “to create more value to shareholders.”




Next story loading loading..