MarketWise Announces Agreement with Data Science Provider SubScale, Ltd.
~ Engages Data Science Experts to Further Develop Artificial Intelligence and Machine Learning Capabilities ~
BALTIMORE, May 05, 2022 (GLOBE NEWSWIRE) -- MarketWise, Inc. (NASDAQ: MKTW) (“MarketWise”), a leading multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors, today announced that it has signed an agreement with SubScale, Ltd. to provide data science, enhanced analytics, and machine learning to augment MarketWise’s operations and customer engagement strategy. The agreement is scheduled to commence on May 16, 2022.
“Since the closing of our combination with Ascendant, we have been working with their team and the experts at SubScale to assess the opportunities for greater use of data science throughout our business and this led to today’s announcement, which could prove transformational for our business,” said Mark Arnold, Chief Executive Officer of MarketWise. “The SubScale team brings a wealth of experience in the development and use of artificial intelligence and machine learning to MarketWise and we are excited to employ this technology across our organization. I believe greater use of data science will significantly enhance our business opportunities in several ways, including increased intelligence on consumer behavior, higher engagement, better free-to-paid conversion rates, improved subscriber retention, greater marketing efficiencies and ultimately higher ARPUs.”
“Through the Ascendant team, I have gotten to know Marketwise and am very excited to take ideas and expertise that I have developed over the years and apply those practices to the MarketWise platform,” commented Michael Birdsall, founder of SubScale. “This is an opportune moment as the company is poised to expand its use of data science throughout the organization to measurably improve all aspects of the customer lifecycle.”
Mr. Birdsall has founded and developed several consulting initiatives specifically related to the development, implementation, and application of data science and artificial machine learning across various industries. His efforts include data architecture, data warehouse design and applications, optimization of advertising and marketing solutions, human resources and candidate search systems and job matching. He received a Master of Business Administration from University of Cambridge and has completed coursework on data science and analytics with the Massachusetts Institute of Technology.
Founded with a mission to level the playing field for self-directed investors, today MarketWise is a leading multi-brand subscription services platform providing premium financial research, software, education, and tools for investors.
With more than 20 years of operating history, MarketWise is currently comprised of 12 primary customer facing brands, offering more than 175 products, and serving a community of approximately 15 million free and paid subscribers. MarketWise’s products are a trusted source for high-value financial research, education, actionable investment ideas, and investment software. MarketWise is a 100% digital, direct-to-customer company offering its research across a variety of platforms including mobile, desktops, and tablets. MarketWise has a proven, agile, and scalable platform and our vision is to become the leading financial solutions platform for self-directed investors.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the financial position, business strategy, and the plans and objectives of management for future operations of MarketWise. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: our ability to attract new subscribers and to persuade existing subscribers to renew their subscription agreements with us and to purchase additional products and services from us; our ability to adequately market our products and services, and to develop additional products and product offerings; our ability to grow market share in our existing markets or any new markets we may enter; adverse or weakened conditions in the financial sector, global financial markets, and global economy; our ability to respond to and adapt to changes in technology and consumer behavior. Additional factors that could cause actual results to differ materially from these forward-looking statements are detailed from time to time in the reports MarketWise files with the Securities and Exchange Commission, including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. All forward-looking statements in this press release are based on information available to MarketWise as of the date hereof, and MarketWise disclaims any obligation to update these forward-looking statements.
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