 Hello everybody welcome back to Investor Intel. I'm Peter Clausy following up today on one of our favorites Movely Media with Brendan Grunewald, the CEO. How are you sir? Hi Peter, nice to talk to you again. It's been a while but I'm always glad to speak to you. 2020 was a crappy year but you've had a good 2021. Well I would say 2021 was a year that was was pretty crappy for a lot of people but I'll actually vote you know the silver lining on on that for Movely was really the fact that more and more people just needed to learn to work and learn from home and remotely and so tools like video conferencing tools and also video content really benefited from it so nobody wishes for a pandemic but there certainly was a silver lining on it for us. I think a lot more people discovered Movely and as a result are using Movely thanks to the new work way you know despite the fact that it was a negative influence on society. 2021 has started well for us you know we have we're starting to you know we've raised some capital recently we just closed a round of capital and you know that's really exciting for us. It's been a while since we closed capital and this is really this capital is ready for us to be able to grow our business so sorry when you say grow the business you mean you're hiring more sales people you're entering into partnerships what's the money actually going to be spent on? So yeah all of those you know our growth strategy is three pillars we have our e-commerce pillar which is the credit card you know kind of consumers which are in small medium business that's primarily small medium businesses that are in our e-commerce business pillar and so we'll be doing a lot more aggressive marketing online there. Our second pillar is our enterprise and large corporate business so we're definitely and have already invested in that with the round we closed in November December and so that that is already starting to see we're making changes there and going off to that sector and we'll be further investing some of this money a large piece of this money into that as well and then for sure our partner strategy is also accelerating and we're seeing more and more interest in companies that want to work with Movely and cooperate with us in some form of commercial relationship. And I see from this morning's press release paid education subscriptions have grown more than 300% you're over a year you have 3.7 million registered users on your education platform. On the platform in general yes we have 3.6 million users our education has always been a you know students and teachers etc have always been a large percentage of our users but I would say almost exclusively on the free products that we offer because we do have quite a significant free offering to registered and recognized education institutions. What is really encouraging for us though is that over the last year as we launched things like an edu classroom or type of product where it's not just an individual user but where there's collaboration tools and backend back office tools and self administration type of tools and you can set up effectively a classroom environment and we've also added a video tool similar to the one we're using now like Skype or Zoom or whatever especially for that target audience and so we've seen a strong growth in willingness to pay from that target audience or from that market whereas before it was pretty much a free user business. Right so I downloaded Zoom for free I downloaded Skype for free. Why would I pay for Movely? Well because you get a hell of a lot more for it I mean not only is you can collaborate and do this sort of conversation but if you really wanted to explain something to somebody or to promote something you're quickly going to be looking for that screen share and take them through some form of either PowerPoint presentation or video to explain or to promote whatever you're doing and you know what we've done is we've built a I would like to think of a one-stop shop because we've got on the low end we've got some very basic features for people who just want to make a Facebook ad for their SMB and on the other end you know if you're a high-end corporate with multi-nationals we've got automated transcribing we've got automated translation services we've got automated subtitling we've got text-to-speech and then speech to text and we've got a number of advanced features like that which scale all the way up to the large users so a lot of those tools you know come within one bundled package it's just something in a simple example as well as something like screen recording if you wanted to make a video to explain how to use your new web interface or how to use a new tool you know you could buy that software but that's a feature that we offer as part of the subscription so as we add these features we are just adding more and more value to our products without necessarily charging a lot more for them. Last time we talked we chatted about the Google Translate feature which I found fascinating it's near real-time like what a couple of seconds behind real-time translation into other languages and you can transcribe it and have the text running across the bottom in near real-time. Yeah that's true and what you know we recently put out a press release because we added another 300 odd languages voices should I say to the languages that we support so we have over 100 languages that you can transcode and translate between but also you know Canadian English or French is not the same as British English or French French and so you know what we find is that people want to localize content particularly our large corporate enterprise customers who are a key part of our growth strategy that they want you know different nuances or they want different types of voices for the content that they are creating. So British English may not work as well as in the States or as well as in India or as well as in Australia. So I would expect that the news flowing out of Movely over the next while will be mainly sales oriented. Yes I mean part of what we will do now because of the partnerships and the growth we're seeing in those and opportunities to work with other companies you know we will also expand a little bit our engineering resource to take care of those integrations. But again that is primarily driven by the need to integrate into third parties etc. So yes I think that you know what we have discovered and what we are very proud of is the fact that we are often told that we have the best product out there. We are not by any ways sitting back on our laurels and we will continue to ensure that we believe we have the best product out there. But most of the work that we're doing now is really about integrating into third party products so that our offering becomes more useful to our customers and so that once they've made a video for example what do they do with it next. Instead of having to download it and upload it into something else you know we can integrate with partners and that video becomes a lot more your our platform becomes a kind of a hub in the in the spoke of different platforms that are out there. Nice. So let's check in with you next quarter. We'll see how sales are doing. Check on those partnership rollouts. We certainly are working hard and look forward to speaking you again. Brendan it's always a pleasure to speak with you. Stay safe.