Fri 03/12/21 at 4pm GMT
Hilco Streambank (“Hilco”) is seeking offers to acquire the intellectual property assets of Bagboard Limited (“Bagboard” or the “Company”).
Bagboard acts as an advertising platform and product marketplace for companies actively pursuing conscious business practices which in turn rewards consumer engagement with sustainable brands. The Company’s aim is to drive conscious consumerism on a global scale.
Bagboard partners with sustainable brands and features their marketing campaigns on eco-friendly paper ‘smart bags’, replacing single-use plastic bags. Through a ‘conscious’ shopping app, consumers can ‘earn on the go’ by reusing their ‘smart bags’, promoting those brands as they travel around. As a reward, they earn conscious coins, Bagboard’s digital currency, and are incentivised to spend on the sustainable brands featured on the bags.
The company has developed a PaaS/Adtech platform and launched its App in both iOS and android format. To date the Company has focussed on rolling out in London but with plans to quickly scale globally.
Bagboard has initially focused on growing its consumer network via its platform but has also had success in engaging with brands such as Sky Ocean Rescue, Unilever, Loop and WWF.
The business model seeks to monetise consumer data trails of activity, from reuse of smart bags, engagement with the app and purchases from the marketplace, which the Company intends to sell to advertises in a similar way to how other established platforms operate. Brand advertisers will be charged via an auction-based framework, on top of predetermined base rates for two activities namely:
1. Impressions (no. of advert views)
Brands to pay CPT (cost-per-thousand impressions) based on base rate and bids.
2. Engagements (app content views)
Brands to be charged for each engagement.
These are to be charged retrospectively at the end of campaigns (base rates and additional auction rates) based on the final data reports for campaigns and consumer activity.
Since 2017 the Company has raised in excess of £2.3m.
The Bagboard Brand
Bagboard has been created to provide a sustainable advertising platform and marketplace that rewards consumer engagement with sustainable brands. It incentivises consumers to promote planet-friendly brands in exchange for a new digital currency to spend back on their products and services. The Company, a first of its kind solution, has won multiple awards and has received widespread press coverage.
The Bagboard Platform
The Company has developed a PaaS advertising platform centred around advertising campaigns and smart bags. Through RFID, barcode, GPS and QR technology, the smart bags link to the consumer app to give location data.
Infrastructure to support the rollout has been put in place, to include a supply chain partner capable of producing 3 million bags per month.
The Company holds registered trademarks to protect the “Bagboard” brand name, covering software and electronic publications, goods made from paper, and advertising protecting the UK and other territories. It should be noted that the logo has been updated.
The primary www.bagboard.com domain name is available to acquire along with:
Website Content & Social Media Content
The Company’s website, hosted at www.bagboard.com provides access to platform and connects users to sustainable brands.
Rights in the social media accounts are also available to acquire across Twitter and LinkedIn.
Expressions of interest are due by Friday December 3, 2021 at 4pm GMT.
All expressions of interest and bids are to be directed to Hilco in writing. A Bid Submission Form is available on request. Please contact Hilco to gain access to a virtual data room of further information on signing a confidentiality agreement.
The bidder acknowledges that Hilco acts as an agent, who offer for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied. Hilco has not verified the information provided, and bidders are deemed to have carried out their own due diligence. Hilco Streambank’s full Terms and Conditions apply.