Cardlytics Announces Peter Chan as Chief Technology Officer

Rhea-AI Summary

Cardlytics (NASDAQ: CDLX) has appointed Peter Chan as the new Chief Technology Officer, bringing over 20 years of experience from Amazon and Yahoo to lead its technology and engineering strategies. This appointment comes as Cardlytics integrates its recent acquisitions of Dosh and Bridg, aiming to enhance its self-service advertising platform. The company boasts over 168 million monthly active users and significant market influence, processing approximately $3.4 trillion in annual spending. The leadership changes are expected to foster innovation and growth within the digital advertising space.

Positive

• Appointment of Peter Chan strengthens leadership with extensive tech experience.
• Integration of Dosh and Bridg enhances technology and marketing services.
• User base of over 168 million monthly active users positions Cardlytics among major digital marketing players.
• Capable of processing $3.4 trillion in annual spending, indicating strong market presence.

Negative

• None.

Former Amazon and Yahoo Executive With 20+ Years in Advertising Tech Experience Leads Cardlytics’ Ad Platform Evolution

ATLANTA, June 07, 2021 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), one of the largest digital advertising platforms, today announced the appointment of Peter Chan as its Chief Technology Officer. Chan joins Cardlytics from Amazon to lead all engineering and technology as the company continues its evolution and integration following the recent Dosh and Bridg acquisitions. Based in San Francisco, Chan will lead the technology organization as it continues to transform the Cardlytics self-service advertising platform to empower marketers and enhance the bank customer experience. Prior to joining Cardlytics, Chan worked at Amazon as the Director of Product Management and Engineering for its advertising services group, in addition to serving in various leadership roles throughout his 15-year tenure with Yahoo.

“I couldn’t be more excited to be joining Cardlytics, an advertising platform that solves real marketer problems with customer-centric tech innovation,” said Peter Chan. “The recent acquisitions of Dosh and Bridg opens an entirely new dimension of what we can achieve for brands, financial services, and their shared customers. I look forward to supporting the team in finding new ways to iterate and evolve the product, engineer for empathy, and power an even greater, data-safe marketing solution for the advertising community.”

“Over the past 18 months, we’ve expanded our team by more than one hundred employees, with key senior hires - like Peter - joining with experience from top tech companies, including Amazon, Facebook, Pinterest, and Google,” said Lynne Laube, Cardlytics CEO and Co-Founder. “Peter’s expertise in this space makes him an incredible asset as we continue to evolve our platform to create long-term value for our advertisers and financial services partners. I’m thrilled to welcome him to Cardlytics.”

Most recently, Chan was the Director of Product Management and Engineering at Amazon. In that role, Chan was responsible for leading product management, engineering, and applied science to scale while driving growth of the global marketplace for Amazon Advertising. Prior to that experience, Chan was VP, Engineering at Yahoo and served in various leadership roles during his 15 years with the tech company, working across priority projects like the Gemini Ad Network, Yahoo Ad Exchange, and the Yahoo Search Marketing platform all while increasing responsibility within the engineering department and leading global teams.

With the acquisition of Dosh and Bridg, Cardlytics strengthened its technology and marketing services for advertisers to better connect with its engaged audience of more than 168 million monthly active users. This metric puts the platform on par with some of the biggest players in the digital marketing space, including Facebook, Amazon and Google. Cardlytics also has purview into 1 in 2 card swipes across the United States and powers $3.4 trillion dollars in annual spend across its partners.

About Cardlytics
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their rewards programs that promote customer loyalty and deepen relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, Los Angeles, San Francisco, Austin, and Visakhapatnam. In March 2021, Cardlytics acquired Dosh, a transaction-based advertising platform. In May 2021, Cardlytics acquired Bridg, a customer data platform. Learn more at www.cardlytics.com.

Cautionary Language Concerning Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to future growth and evolution of the platform, potential benefits of the acquisitions of Dosh and Bridg, and powering a greater, data-safe marketing solution. These forward-looking statements are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," or variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control.

Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: risks related to the uncertain impacts that COVID-19 may have on our business, financial condition, results of operations; unfavorable conditions in the global economy and the industries that we serve; our quarterly operating results have fluctuated and may continue to vary from period to period; our ability to sustain our revenue growth and billings; risks related to the integration of Dosh and Bridg with our company; risks related to our substantial dependence on Cardlytics Direct; risks related to our substantial dependence on JPMorgan Chase Bank, National Association (“Chase”), Bank of America, National Association ("Bank of America") and a limited number of other financial institution (“FI”) partners; the timing of the phased launch of the Cardlytics platform by U.S. Bank; risks related to our ability to maintain relationships with Chase, Wells Fargo and Bank of America; the amount and timing of budgets by marketers, which are affected by budget cycles, economic conditions and other factors; our ability to generate sufficient revenue to offset contractual commitments to FIs; our ability to attract new partners, including FI partners, and maintain relationships with bank processors and digital banking providers; our ability to maintain relationships with marketers; our ability to adapt to changing market conditions, including our ability to adapt to changes in consumer habits, negotiate fee arrangements with new and existing partners and retailers, and develop and launch new services and features; and other risks detailed in the “Risk Factors” section of our Form 10-Q filed with the Securities and Exchange Commission on May 4, 2021 and in subsequent periodic reports that we file with the Securities and Exchange Commission. Past performance is not necessarily indicative of future results. 

The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Contacts:

Public Relations:
Angie Amberg
Cardlytics, Inc.
aamberg@cardlytics.com

FAQ

Who is the new Chief Technology Officer at Cardlytics?

Peter Chan has been appointed as the new Chief Technology Officer at Cardlytics.

What are the recent acquisitions made by Cardlytics?

Cardlytics recently acquired Dosh and Bridg to enhance its technology and marketing services.

How many monthly active users does Cardlytics have?

Cardlytics has over 168 million monthly active users.

What is the annual spending processed by Cardlytics?

Cardlytics processes approximately $3.4 trillion in annual spending.

What is the significance of Peter Chan's appointment for Cardlytics?

Peter Chan's appointment is expected to drive innovation and growth in Cardlytics' advertising technology.