A Blog from Gerbsman Partners Board of Intellectual Capital on “Maximizing Enterprise Value” for technology, life science, medical device and cleantech companies and their Intellectual Property
Further to Gerbsman Partners sales letter of November 14, 2023 and “Update” on November 20, 2023 regarding the sale of Retina, Inc. I am attaching “Exhibit A Retina NDA”, a “Table of Contents” for Retiana Data Room due diligence information (subject to the enclosed NDA), a link below to a Retina power point presentation – and a draft Asset Puchase Agreement “APA”. The “Founders” of Retina are available for a detail zoom review.
I would encourage and recommend that all interested parties have their counsel speak with David Ajalat, Esq. at Goodwin, counsel to Retina, to discuss any questions or comments of a legal nature relating to the transaction. David is available at 424 436 3081 -dajalat@goodwinlaw.com
Please review the “Important Legal Notice” below in that potential purchasers should not rely on any information contained provided by Retina or Gerbsman Partners (or their respective staff, agents, and attorneys) in connection herewith, whether transmitted orally or in writing as a statement, opinion, or representation of fact. Interested parties should satisfy themselves through independent investigations as they or their legal and financial advisors see fit.
Ken, Eric and I will be following up to review the updated Bidding Process, schedule due diligence meetings and answer any questions regarding the “Date Certain M&A Process”. Bids are due on or before December 18, 2023 and subject to the “Bidding Process” below.
Any and all the assets of Retina will be sold on an “as is, where is” basis and will be subject to “The Bidding Process for Interested Buyers”, outlined below.
Gerbsman Partners has been retained by Retina to solicit interest for the acquisition of all, or substantially all, the assets of Retina.
Retina is a venture-backed SaaS platform which has been utilized by Fortune 500 giants like Capital One and Nestle, leveraging Predictive Customer Value for Ad Optimization on Meta and Google Ads platforms.
Retina was founded in 2017 to develop a complete self-serve solution for predicting, understanding, and acting on future customer behavior. To date over $13 million dollars has been invested by top venture capital firms (Comcast Ventures, VVP, and AIC) to develop this proprietary technology to use Machine Learning and Generative AI to predict customer behavior.
The Retina founders have significant experience in building and commercializing machine learning products. One founder has been advisor to multiple $1B+ eComm enablement startups, crafted AI/ML product strategies that significantly boosted brand revenues through personalized customer journeys. Conducted impactful AI training sessions for over 75 CEOs and U.S. Congress members, demystifying Generative AI technology’s strategic implications.
The founders have 30+ years of combined experience in building SaaS platforms. Prior to Retina one founder was at PayPal and leveraged machine learning to unearth high-value customer segments. And at Meta, as the Head of Marketing Operations & Analytics, he pioneered revenue impact measurement tools.
The engineering founder led team at 5+ startups with three-successful outcomes. His leadership at Topaz Labs (deep learning-based photo-enhanced software used by Lucas Films, Amazon, and many others) led to product innovations, doubling company revenues. The founding team is educated in Physics, Computer Science and Business from MIT, RPI and UCLA.
The sale is being conducted with the cooperation of Retina.
IMPORTANT LEGAL NOTICE:
The information in this memorandum does not constitute the whole or any part of an offer or a contract.
The information contained in this memorandum relating to the Retina Assets has been supplied by Retina and has not been independently investigated or verified by Gerbsman Partners or their respective agents.
Potential purchasers should not rely on any information contained in this memorandum or provided by Gerbsman Partners, Retina (or their respective staff, agents, and attorneys) in connection herewith, whether transmitted orally or in writing (the “information”), as a statement, opinion, or representation of fact. Please further note that all information provided herein relating to the operations of Retina’s business and its market positions relates to periods on or prior to November, 2023. Interested parties should satisfy themselves through independent investigations as they or their legal and financial advisors see fit.
Gerbsman Partners Retina and their respective staff, agents, and attorneys, (i) disclaim any and all implied warranties concerning the truth, accuracy, and completeness of any information provided in connection herewith and (ii) do not accept liability for the information, including that contained in this memorandum, whether that liability arises by reasons of Gerbsman Partners’ negligence or otherwise.
Any sale of Retina’s assets will be made on an “as-is,” “where-is,” and “with all faults” basis, without any warranties, representations, or guarantees, either express or implied, of any kind, nature, or type whatsoever from, or on behalf of, Retina or Gerbsman Partners. Without limiting the generality of the foregoing, Gerbsman Partners, Retina and their respective staff, agents, and attorneys, hereby expressly disclaim any and all implied warranties concerning the condition of the Retina and any portions thereof, including, but not limited to, environmental conditions, compliance with any government regulations or requirements, the implied warranties of habitability, merchantability, or fitness for a particular purpose.
This memorandum contains confidential information and is not to be supplied to any person without Gerbsman Partners’ prior consent. This memorandum and the information contained herein are subject to the non-disclosure agreement attached hereto in Exhibit A.
Bidding Process for Interested Buyers
Interested and qualified parties will be expected to sign a nondisclosure agreement (attached hereto as Attachment A) to have access to key members of the management and intellectual capital teams and the due diligence “war room” documentation (the “Due Diligence Access”). Each interested party, as a consequence of the Due Diligence Access granted to it, shall be deemed to acknowledge and represent (i) that it is bound by the bidding procedures described herein; (ii) that it has an opportunity to inspect and examine the Retina ai asset information and to review all pertinent documents and information with respect thereto; (iii) that it is not relying upon any written or oral statements, representations, or warranties of Gerbsman Partners or Retina ai, or their respective staff, agents, or attorneys; and (iv) all such documents and reports have been provided solely for the convenience of the interested party, and Retina ai and Gerbsman Partners (and their respective, staff, agents, or attorneys) do not make any representations as to the accuracy or completeness of the same.
Following an initial round of due diligence, interested parties will be invited to participate with a sealed bid, for the acquisition of the Retina ai intellectual property and assets. Sealed bids must be submitted so that they are actually received by Gerbsman Partners no later than Monday , December 18, 2023 at 3:00 p.m. Pacific Time (the “Bid Deadline”) at Retina’s office 231 Avenue D, Redondo Beach, CA. Please also email steve@gerbsmanpartners.com with any bid.
Any person or other entity making a bid must be prepared to provide independent confirmation that they possess the financial resources to complete the purchase where applicable. All bids must be accompanied by a refundable deposit check in the amount of $200,000 (the refundable deposit will be held in Retina AI’s legal counsel trust account). The winning bidder will be notified within 3 business days of the Bid Deadline. Unsuccessful bidders will have their deposits returned to them within 3 business days of notification that they are an unsuccessful bidder.
Retina AI reserves the right to, in its sole discretion, accept or reject any bid, or withdraw any or all of the assets from sale. Interested parties should understand that it is expected that the highest and best bid submitted will be chosen as the winning bidder and bidders may not have the opportunity to improve their bids after submission.
Retina ai will require the successful bidder to close within a 7-day period. The intellectual property and assets of Retina ai will be sold on an “as is, where is” basis, with no representation or warranties whatsoever.
All sales, transfer, and recording taxes, stamp taxes, or similar taxes, if any, relating to the sale of the Retina ai intellectual property and assets shall be the sole responsibility of the successful bidder.
For additional information, please see below and/or contact:
Update to “The Bidding Process, Procedures for Sale of Assets and Intellectual Property of Retina AI
Further to Gerbsman Partners sales letter of November 14, 2023 regarding the sale of Retina, Inc. I am attaching “Exhibit A Retina NDA”, a “Table of Contents” for Retiana Data Room due diligence information and a link below to a Retina power point presentation.
Please review the “Important Legal Notice” below in that potential purchasers should not rely on any information contained provided by Retina or Gerbsman Partners (or their respective staff, agents, and attorneys) in connection herewith, whether transmitted orally or in writing as a statement, opinion, or representation of fact. Interested parties should satisfy themselves through independent investigations as they or their legal and financial advisors see fit.
Ken, Eric and I will be following up to review the updated Bidding Process, schedule due diligence meetings and answer any questions regarding the “Date Certain M&A Process”.
Any and all the assets of Retina will be sold on an “as is, where is” basis and will be subject to “The Bidding Process for Interested Buyers”, outlined below.
Gerbsman Partners has been retained by Retina to solicit interest for the acquisition of all, or substantially all, the assets of Retina.
Retina is a venture-backed SaaS platform which has been utilized by Fortune 500 giants like Capital One and Nestle, leveraging Predictive Customer Value for Ad Optimization on Meta and Google Ads platforms.
Retina was founded in 2017 to develop a complete self-serve solution for predicting, understanding, and acting on future customer behavior. To date over $13 million dollars has been invested by top venture capital firms (Comcast Ventures, VVP, and AIC) to develop this proprietary technology to use Machine Learning and Generative AI to predict customer behavior.
The Retina founders have significant experience in building and commercializing machine learning products. One founder has been advisor to multiple $1B+ eComm enablement startups, crafted AI/ML product strategies that significantly boosted brand revenues through personalized customer journeys. Conducted impactful AI training sessions for over 75 CEOs and U.S. Congress members, demystifying Generative AI technology’s strategic implications.
The founders have 30+ years of combined experience in building SaaS platforms. Prior to Retina one founder was at PayPal and leveraged machine learning to unearth high-value customer segments. And at Meta, as the Head of Marketing Operations & Analytics, he pioneered revenue impact measurement tools.
The engineering founder led team at 5+ startups with three-successful outcomes. His leadership at Topaz Labs (deep learning-based photo-enhanced software used by Lucas Films, Amazon, and many others) led to product innovations, doubling company revenues. The founding team is educated in Physics, Computer Science and Business from MIT, RPI and UCLA.
The sale is being conducted with the cooperation of Retina.
IMPORTANT LEGAL NOTICE:
The information in this memorandum does not constitute the whole or any part of an offer or a contract.
The information contained in this memorandum relating to the Retina Assets has been supplied by Retina and has not been independently investigated or verified by Gerbsman Partners or their respective agents.
Potential purchasers should not rely on any information contained in this memorandum or provided by Gerbsman Partners, Retina (or their respective staff, agents, and attorneys) in connection herewith, whether transmitted orally or in writing (the “information”), as a statement, opinion, or representation of fact. Please further note that all information provided herein relating to the operations of Retina’s business and its market positions relates to periods on or prior to November, 2023. Interested parties should satisfy themselves through independent investigations as they or their legal and financial advisors see fit.
Gerbsman Partners Retina and their respective staff, agents, and attorneys, (i) disclaim any and all implied warranties concerning the truth, accuracy, and completeness of any information provided in connection herewith and (ii) do not accept liability for the information, including that contained in this memorandum, whether that liability arises by reasons of Gerbsman Partners’ negligence or otherwise.
Any sale of Retina’s assets will be made on an “as-is,” “where-is,” and “with all faults” basis, without any warranties, representations, or guarantees, either express or implied, of any kind, nature, or type whatsoever from, or on behalf of, Retina or Gerbsman Partners. Without limiting the generality of the foregoing, Gerbsman Partners, Retina and their respective staff, agents, and attorneys, hereby expressly disclaim any and all implied warranties concerning the condition of the Retina and any portions thereof, including, but not limited to, environmental conditions, compliance with any government regulations or requirements, the implied warranties of habitability, merchantability, or fitness for a particular purpose.
This memorandum contains confidential information and is not to be supplied to any person without Gerbsman Partners’ prior consent. This memorandum and the information contained herein are subject to the non-disclosure agreement attached hereto in Exhibit A.
Bidding Process for Interested Buyers
Interested and qualified parties will be expected to sign a nondisclosure agreement (attached hereto as Attachment A) to have access to key members of the management and intellectual capital teams and the due diligence “war room” documentation (the “Due Diligence Access”). Each interested party, as a consequence of the Due Diligence Access granted to it, shall be deemed to acknowledge and represent (i) that it is bound by the bidding procedures described herein; (ii) that it has an opportunity to inspect and examine the Retina ai asset information and to review all pertinent documents and information with respect thereto; (iii) that it is not relying upon any written or oral statements, representations, or warranties of Gerbsman Partners or Retina ai, or their respective staff, agents, or attorneys; and (iv) all such documents and reports have been provided solely for the convenience of the interested party, and Retina ai and Gerbsman Partners (and their respective, staff, agents, or attorneys) do not make any representations as to the accuracy or completeness of the same.
Following an initial round of due diligence, interested parties will be invited to participate with a sealed bid, for the acquisition of the Retina ai intellectual property and assets. Sealed bids must be submitted so that they are actually received by Gerbsman Partners no later than Monday , December 18, 2023 at 3:00 p.m. Pacific Time (the “Bid Deadline”) at Retina’s office 231 Avenue D, Redondo Beach, CA. Please also email steve@gerbsmanpartners.com with any bid.
Any person or other entity making a bid must be prepared to provide independent confirmation that they possess the financial resources to complete the purchase where applicable. All bids must be accompanied by a refundable deposit check in the amount of $200,000 (the refundable deposit will be held in Retina AI’s legal counsel trust account). The winning bidder will be notified within 3 business days of the Bid Deadline. Unsuccessful bidders will have their deposits returned to them within 3 business days of notification that they are an unsuccessful bidder.
Retina AI reserves the right to, in its sole discretion, accept or reject any bid, or withdraw any or all of the assets from sale. Interested parties should understand that it is expected that the highest and best bid submitted will be chosen as the winning bidder and bidders may not have the opportunity to improve their bids after submission.
Retina ai will require the successful bidder to close within a 7-day period. The intellectual property and assets of Retina ai will be sold on an “as is, where is” basis, with no representation or warranties whatsoever.
All sales, transfer, and recording taxes, stamp taxes, or similar taxes, if any, relating to the sale of the Retina ai intellectual property and assets shall be the sole responsibility of the successful bidder.
For additional information, please see below and/or contact:
Sale of Retina – its assets and intellectual property
Gerbsman Partners – http://gerbsmanpartners.com has been retained by Retina https://retina.ai/ to solicit interest for the acquisition of all or substantially all of Retina’s assets, including its Intellectual Property (“IP”), in whole or in part (collectively, the “Retina Assets”).
Retina is a venture-backed SaaS platform which has been utilized by Fortune 500 giants like Capital One and Nestle, leveraging Predictive Customer Value for Ad Optimization on Meta and Google Ads platforms.
Retina was founded in 2017 to develop a complete self-serve solution for predicting, understanding, and acting on future customer behavior. To date over $13 million dollars has been invested by top venture capital firms (Comcast Ventures, VVP, and AIC) to develop this proprietary technology to use Machine Learning and Generative AI to predict customer behavior.
The Retina founders have significant experience in building and commercializing machine learning products. One founder has been advisor to multiple $1B+ eComm enablement startups, crafted AI/ML product strategies that significantly boosted brand revenues through personalized customer journeys. Conducted impactful AI training sessions for over 75 CEOs and U.S. Congress members, demystifying Generative AI technology’s strategic implications.
The founders have 30+ years of combined experience in building SaaS platforms. Prior to Retina one founder was at PayPal and leveraged machine learning to unearth high-value customer segments. And at Meta, as the Head of Marketing Operations & Analytics, he pioneered revenue impact measurement tools.
The engineering founder led team at 5+ startups with three-successful outcomes. His leadership at Topaz Labs (deep learning-based photo-enhanced software used by Lucas Films, Amazon, and many others) led to product innovations, doubling company revenues. The founding team is educated in Physics, Computer Science and Business from MIT, RPI and UCLA.
IMPORTANT LEGAL NOTICE:
The information in this memorandum does not constitute the whole or any part of an offer or a contract.
The information contained in this memorandum relating to the Retina Assets has been supplied by Retina and has not been independently investigated or verified by Gerbsman Partners or their respective agents.
Potential purchasers should not rely on any information contained in this memorandum or provided by Gerbsman Partners, Retina (or their respective staff, agents, and attorneys) in connection herewith, whether transmitted orally or in writing (the “information”), as a statement, opinion, or representation of fact. Please further note that all information provided herein relating to the operations of Retina’s business and its market positions relates to periods on or prior to November, 2023. Interested parties should satisfy themselves through independent investigations as they or their legal and financial advisors see fit.
Gerbsman Partners Retina and their respective staff, agents, and attorneys, (i) disclaim any and all implied warranties concerning the truth, accuracy, and completeness of any information provided in connection herewith and (ii) do not accept liability for the information, including that contained in this memorandum, whether that liability arises by reasons of Gerbsman Partners’ negligence or otherwise.
Any sale of Retina’s assets will be made on an “as-is,” “where-is,” and “with all faults” basis, without any warranties, representations, or guarantees, either express or implied, of any kind, nature, or type whatsoever from, or on behalf of, Retina or Gerbsman Partners. Without limiting the generality of the foregoing, Gerbsman Partners, Retina and their respective staff, agents, and attorneys, hereby expressly disclaim any and all implied warranties concerning the condition of the Retina and any portions thereof, including, but not limited to, environmental conditions, compliance with any government regulations or requirements, the implied warranties of habitability, merchantability, or fitness for a particular purpose.
This memorandum contains confidential information and is not to be supplied to any person without Gerbsman Partners’ prior consent. This memorandum and the information contained herein are subject to the non-disclosure agreement attached hereto in Exhibit A.
Summary of Historical Retina information
Retina AI, since its inception in 2017, has established itself as a leader in the field of predictive analytics, specifically focusing on customer lifetime value (CLV). The company’s journey began with a vision to harness the power of data to predict the future value of customers accurately. This innovative approach stemmed from the realization that companies, particularly in the e-commerce sector, were often unable to distinguish between profitable and unprofitable customers, leading to inefficient marketing spend and lost opportunities.
Leadership and Team:
The company’s foundation and growth can be attributed to its robust leadership team, spearheaded by CEO and Co-Founder Emad Hasan. Emad’s background includes a rich blend of engineering and marketing experience, with notable tenures at Meta and PayPal. Complementing his efforts, Co-Founder and CTO Brad Ito, with his extensive experience in MarTech and AdTech, has been instrumental in shaping the company’s technological advancements.
Innovative Technology and Growth:
Retina’s rise in the predictive analytics space is marked by its “proprietary algorithm”, which accurately predicts individual customer lifetime value. This technology stands at the heart of Retina’s offerings, enabling businesses to optimize their marketing strategies and ad campaigns with unprecedented precision.
Market Impact and Adoption:
The introduction of Retina’s “Day 0” predictive lifetime value platform marked a significant shift in how businesses approach customer data. This innovation offered companies a lens through which they could view their customer base, not just as a monolithic entity but as a diverse collection of individuals with varying potential for long-term value. This shift has enabled businesses to focus their efforts on high-lifetime-value customers, thereby optimizing their ad campaigns and significantly improving the CLV to Customer Acquisition Cost (CAC) ratio.
Revolutionizing Customer Acquisition:
One of the core features of Retina’s platform is CLV-based ad optimization. This feature has proven to be a game-changer for businesses, particularly in the e-commerce domain. By harnessing the power of predictive analytics, Retina’s clients have seen dramatic improvements in their marketing efficiency, including a 3x higher LTV to CAC ratio, 49% higher Return on Ad Spend (ROAS), and a reduction in CAC by 25-30%.These metrics underscore the transformative impact that Retina’s platform has had on the market.
Expansion and Versatility:
While Retina’s initial focus was on e-commerce, the potential applications of its technology extend far beyond. Its generic and adaptable nature makes it suitable for various industries, including traditional gaming, casinos, ticketing, and other non-e-commerce brands.
Looking Ahead:
As the company looks to the future, it stands on the brink of new opportunities and challenges, poised to redefine the landscape of predictive analytics and customer lifetime value optimization.
In summary, Retina represents a new wave of data-driven decision-making in marketing, where understanding and predicting customer value are central to achieving sustainable and profitable growth. The company’s pioneering technology, combined with its visionary leadership and proven market impact, positions it as a key player in the evolving world of data analytics and customer relationship management.
Target Market:
Defining the Landscape:
Retina’s target market is both diverse and expansive, encompassing a wide range of industries and sectors. The primary focus has been on Retailers and eCommerce brands, where the application of predictive analytics and customer lifetime value is most acute.
E-Commerce and Retail:
Within the eCommerce space, Retina’s solutions are particularly beneficial for companies striving to optimize their marketing efforts in an increasingly competitive digital landscape. These businesses, often dealing with high volumes of customer data, require a sophisticated approach to segment customers based on their predicted lifetime value. By leveraging Retina’s predictive analytics platform, these companies can effectively allocate resources, personalize customer engagement strategies, and drive higher profitability.
This is especially crucial for Small and Medium Businesses (SMBs) operating on platforms like Shopify, where Retina’s solutions enable them to build robust data analytics capabilities with minimal infrastructure.
Beyond E-Commerce:
Retina’s target market extends beyond e-commerce into non-traditional sectors that are equally reliant on understanding customer behavior and value. This includes industries like FinTech, where customer acquisition and retention are pivotal for growth and success. Similarly, in the gaming and entertainment sectors, where customer engagement and lifetime value are key metrics for success,
Membership-Driven Organizations:
Another significant segment for Retina includes membership-driven organizations, where understanding the lifetime value of members is essential for long-term sustainability and growth. These organizations can leverage Retina’s predictive analytics to tailor their services, optimize member acquisition costs, and enhance member engagement strategies.
Potential Untapped Markets:
Looking at the future, Retina has the potential to tap into markets that are currently under-served in terms of advanced data analytics. This includes traditional industries like healthcare, where patient engagement and value prediction can revolutionize service delivery models. Similarly, in sectors like insurance and banking, where customer risk and value assessment are critical, Retina’s predictive models can provide a competitive edge.
Customers:
Diverse and High-Value Clientele:
Retina’s customer base is a rich tapestry of high-profile businesses and institutions, reflective of its robust and versatile analytics platform. The company’s clientele spans across several key sectors, with a strong presence in eCommerce and Retail, but also extending to FinTech, gaming, and membership-driven organizations.
E-Commerce and Retail Giants:
In the realm of eCommerce and Retail, Retina has forged strong relationships with significant players. These include large-scale online retailers and SMBs on platforms like Shopify, who leverage Retina’s platform for data-driven marketing strategies. The company’s predictive analytics tools allow these businesses to gain deeper insights into customer behavior, enabling them to make informed decisions about marketing spend, product development, and customer engagement strategies.
Strategic Partnerships and Collaborations:
Retina’s strategic partnerships, such as those with Experian and Yodlee, further cement its position as a leader in customer data analytics. These collaborations have not only expanded Retina’s reach but have also enriched its data pool, enhancing the accuracy and effectiveness of its predictive models.
Success Stories and Transformative Impact:
Retina’s impact is most vividly illustrated through its client success stories. For instance, Retina’s collaboration with Born Primitive, an athletic apparel company, exemplifies its ability to turn around business performance. Before partnering with Retina, Born Primitive faced rising customer acquisition costs and challenges in adapting to market changes. Utilizing Retina’s optimization tools, the company saw significant improvements in customer acquisition costs, average order values, and conversion rates.
Nestle’s Toll House team, another notable client, collaborated with Retina to understand and meet customer needs better. The insights provided by Retina’s tools helped Toll House to improve customer loyalty and define more accurate CPA targets for their campaigns.
Other clients like Earthling Co. and Liquid IV have also seen remarkable improvements in their marketing efficiency, with enhanced Return on Ad Spend (ROAS) and lower Customer Acquisition Costs (CAC), further attesting to Retina’s ability to drive business growth through data-driven insights.
Intellectual Property
Retina AI has built a substantial amount of intellectual property (IP) in the form of trade secrets and know-how. This is divided into the IP generated for the primary Retina AI brand – with a platform for predictive customer lifetime value and it’s uses, and the IP generated more recently for the DBA Novex AI – which provides novel solutions for Generative AI.
Novex AI IP includes:
domain: novex.ai
leads:
webinars run by Emad ~ 100+ signups
Projects:
parallel-parrot
LLM task automation for data engineers and data scientists
massively parallel API calls and handling of throttling
pandas dataframe interface
chatbot-confidential
private knowledge chatbot with no data sent to cloud and no API calls made to the cloud
CSV upload module includes self-service data analytics on the data being uploaded, to reduce chances of uploading the wrong data. Also supports file sizes up to 160GB.
Competitive Intelligence – benchmark reports that can be used to compare your business’s performance to competitors (uses above purchased transaction-level data, and applies our CLV predictions)
Data Explorer – self-service business intelligence with pre-built analyses of customers in terms of CLV.
CLV Impact – fully automated per-feature analysis of which customer features result in higher or lower CLV. Creates actionable insights without any analyst effort. Also permits drill-down and customization for those looking for deeper analysis.
CLV Cohorts – “Triangle Chart” – showing CLV actuals vs predictions at various time horizons
Weekly email notifications with CLV-related insights on customer behavior
Automated Quality of Customer (QoC) reports. Management-consultant/board – level analysis generated automatically from first-party customer data
Marketing audience generation with CLV and feature-based rules, automatically maintained in Google and Facebook
Low-latency CLV-based Ads optimization for Facebook Ads and Google Ads
Permits live optimization of ad campaigns on predicted CLV – instead of just purchase amount.
Proprietary algorithm for emphasizing CLV impact to the API
Proprietary process for adjusting for signal-loss due to lack of customer identity matching (industry changes and new data compliance)
Automated monitoring
Product – Other
Rapid prototype “Retina Portal” for permitting data scientists to launch interactive demos that are still controlled behind a per-client login
Retina Go – sales accelerator for data science products. Self-service CSV upload (with in-app data correction) to model and insight outputs
Retina Upload Portal – used to collect arbitrary data files from a client in a protected manner (uploads to S3, properly labeled), suitable for data processing by the internal team
auto-slides – automatic Google Slides presentation module
company bytes – pre-canned CLV, customer churn, and competitive analysis with “zero data” (uses above purchased transaction-level data) – used to accelerate sales
customer personas – single-page analysis that explains the major types of customers for a single ecommerce brand – using the models we use for CLV
customer journey maps – data-driven dynamic visualization of how different customer purchase journeys impact CLV and churn
Data Science automated analysis:
Early Value Driver – which customer features most impact customer spend in the first X days
Growth Accounting – how is customer base growing on shrinking
Why the Retina Assets and IP are attractive
The Retina.ai Brand:
Retina’s intellectual property begins with the highly recognizable and SEO-optimized domain name, retina.ai. This domain not only ranks high for customer lifetime value-related keywords but also serves as a central hub for our authoritative “CLV Academy” content, including insightful blog posts, case studies, sales materials, and training resources.
The brand’s digital presence has been meticulously developed to establish Retina as a thought leader and trusted educator in the space of predictive analytics, making it a valuable asset for any potential buyer seeking to maintain or enhance a competitive edge in the market.
Sales Lead Database:
The company boasts a comprehensive sales lead database, featuring over 46,000 contacts managed within Hubspot. This database is a goldmine for sales and marketing efforts, offering a ready-to-use reservoir of potential leads that have been curated and nurtured over time. The depth and quality of this data are unmatched, providing a solid foundation for continued growth and customer acquisition.
Transactional-Level Data Acquisition:
A cornerstone of Retina’s IP is the transaction-level data, which includes anonymized, detailed credit card transactions of U.S. consumers up to December 2022. This extensive dataset provides invaluable insights into consumer spending behaviors and trends, allowing for sophisticated analysis and predictive modeling. It’s a strategic asset for businesses looking to make data-driven decisions with confidence.
Predictive CLV Model:
At the heart of Retina’s innovation lies its predictive Customer Lifetime Value model, which boasts an impressive 90-95% accuracy for future CLV predictions based on data known at the time of the first purchase.
The model is split into two parts:
The Transactional CLV Model, which enhances open-source models with proprietary developments. These enhancements are designed to handle large datasets typical of major e-commerce retailers, optimized computational performance, and reliable model outputs even when dealing with complex customer purchase behaviors.
The Early CLV Model utilizes the Generalized Low Rank Model (GLRM), a complete proprietary implementation capable of handling the messy, intricate data typical of marketing and e-commerce. This model is optimized for predictive accuracy and operational efficiency, even on large datasets, and includes innovative algorithms like the David-Yin Splitting Algorithm and Alternating Directory Method of Multipliers.
Self-Service Enterprise SaaS Platform:
Retina’s Self-Service Enterprise SaaS platform stands as a testament to the company’s commitment to innovation and user empowerment. With connectors for various marketing and sales platforms, and a CSV upload module that supports files up to 160GB, the platform is designed for scalability and adaptability. Its competitive intelligence and data explorer tools provide businesses with benchmark reports and self-service business intelligence, empowering them to make strategic decisions based on robust analytics.
Marketing and Sales Optimization Tools:
Retina’s suite of marketing and sales tools, such as automated Quality of Customer reports and CLV-based Ads optimization, streamline and enhance the efficacy of marketing campaigns across platforms like Facebook and Google Ads.
Conclusion:
In sum, Retina AI’s intellectual property is:
A comprehensive suite of tools, models, and data assets that together form a powerful platform for any business looking to excel in the realm of predictive analytics and data-driven marketing.
The proprietary nature of these assets, combined with their proven effectiveness and adaptability, makes Retina’s IP a highly attractive proposition for potential buyers. It’s not just a collection of tools; it’s a gateway to understanding and leveraging customer value on an unprecedented scale.
The acquisition of Retina’s IP would provide a strategic advantage to any company seeking to innovate, grow, and lead in the rapidly evolving landscape of customer data analytics.
Management Team at Retina AI Inc (for information purposes only)
EMAD HASAN
Emad Hasan kicked off his career as an engineer, constructing autopilot systems for the presidential helicopter’s next generation and building guidance and navigation systems for satellites at Boeing.
A pivot in his career took him to business school, followed by two years in management consulting. Emad then shifted gears, taking on the role of Analytics Product Manager at PayPal, where he crafted unsupervised ML algorithms for Customer Segmentation and anomaly detection. His work extended to Merchant Analytics, scrutinizing data for all merchant payment processing.
A two-year stint at Facebook (now Meta) allowed Emad to run marketing ops for the ads side of the business.
BRAD ITO
Brad Ito is a seasoned engineering executive and a master of innovation in the realm of data science. As the head of engineering and data science at Retina AI, Brad leads a dynamic team dedicated to advancing the company’s groundbreaking predictive analytics platform. His extensive experience and robust educational background, including a Bachelor’s in Physics from the Massachusetts Institute of Technology (MIT), have established him as a vanguard in the engineering community.
Brad had tenure at Topaz Labs, ScaleFunder/Ruffalo Noel Levitz, Walla Media, and Griffith Park Media has imbued him with unparalleled expertise in engineering management, technical project management, technology architecture, and data engineering.
Brad’s technical acumen is vast and comprehensive, encompassing database administration, DevOps, marketing technology, and IT security. His proficiency in cloud computing is evidenced by his deep knowledge of AWS and Azure.
A Linux enthusiast, Brad is equally comfortable working with on-premise servers and cloud-based environments, ensuring robust and secure systems architecture. His proficiency extends to a variety of databases and data processing frameworks, including Redshift, Snowflake, MySQL/MariaDB, Postgres, SQL Server, ElasticSearch, and Spark, among others.
In the web development domain, Brad is well-versed in both front-end and back-end technologies. His experience with Angular, React, Vue.js, Nuxt.js, Express.js, Koa.js, Node.js, Pyramid, and FastAPI reflects his ability to manage full-stack development projects with precision and creativity.
Brad’s programming language repertoire is extensive, including proficiency in Python, R, JavaScript, Typescript, PHP, Java, C++, and Perl. He also possesses knowledge of Ruby, Go, and Rust, showcasing his commitment to staying abreast of emerging technologies and programming paradigm
Bidding Process for Interested Buyers
Interested and qualified parties will be expected to sign a nondisclosure agreement (attached hereto as Attachment A) to have access to key members of the management and intellectual capital teams and the due diligence “war room” documentation (the “Due Diligence Access”). Each interested party, as a consequence of the Due Diligence Access granted to it, shall be deemed to acknowledge and represent (i) that it is bound by the bidding procedures described herein; (ii) that it has an opportunity to inspect and examine the Retina ai asset information and to review all pertinent documents and information with respect thereto; (iii) that it is not relying upon any written or oral statements, representations, or warranties of Gerbsman Partners or Retina ai, or their respective staff, agents, or attorneys; and (iv) all such documents and reports have been provided solely for the convenience of the interested party, and Retina ai and Gerbsman Partners (and their respective, staff, agents, or attorneys) do not make any representations as to the accuracy or completeness of the same.
Following an initial round of due diligence, interested parties will be invited to participate with a sealed bid, for the acquisition of the Retina ai intellectual property and assets. Sealed bids must be submitted so that they are actually received by Gerbsman Partners no later than Monday , December 18, 2023 at 3:00 p.m. Pacific Time (the “Bid Deadline”) at Gerbsman Partners office, located at 211 Laurel Grove Avenue, Kentfield, CA 94904. Please also email steve@gerbsmanpartners.com with any bid.
Any person or other entity making a bid must be prepared to provide independent confirmation that they possess the financial resources to complete the purchase where applicable. All bids must be accompanied by a refundable deposit check in the amount of $200,000 (the refundable deposit will be held in Retina AI’s legal counsel trust account). The winning bidder will be notified within 3 business days of the Bid Deadline. Unsuccessful bidders will have their deposits returned to them within 3 business days of notification that they are an unsuccessful bidder.
Retina AI reserves the right to, in its sole discretion, accept or reject any bid, or withdraw any or all of the assets from sale. Interested parties should understand that it is expected that the highest and best bid submitted will be chosen as the winning bidder and bidders may not have the opportunity to improve their bids after submission.
Retina ai will require the successful bidder to close within a 7-day period. The intellectual property and assets of Retina ai will be sold on an “as is, where is” basis, with no representation or warranties whatsoever.
All sales, transfer, and recording taxes, stamp taxes, or similar taxes, if any, relating to the sale of the Retina ai intellectual property and assets shall be the sole responsibility of the successful bidder.
For additional information, please see below and/or contact:
As we begin Veterans Day/Week 2023, we say “Thank You” to the men and woman of our armed services and suggest that it is time for all to “step up” and find ways to support our Veterans. To often we say “thank you for your service” and then do nothing more. Please think about supporting various Veterans groups with donations, food, clothing and moral support. They have “Earned” it and we “Owe” it to them.
In the late summer of 1967, I was on my way back to Basic Training at Fort Dix, N.J. I was in New York City and an older couple came up to me and said “Thank You” for serving and then gave me $ 20 to enjoy a dinner on them. The gentleman said he served in the Korean War and understands and appreciates what men and woman in uniform go through. I said thank you, enjoyed a great dinner and to this day, remember their kind gesture.
On this Veterans Day/Week, our family will support the Special Forces Wounded Warriors program and will provide moral support and friendship to Veterans. On 11/11/23, I will also continue to remember that couple and honor them by buying dinner for soldiers in uniform. I will ask them to do the same thing, 5, 10, 20 and 40 years later.
May God Bless our troops and provide our leaders with the courage and strength to do what is Right and what is Just.
Please always remember – FREEDOM IS NOT FREE and in a Democracy please respect all sides and opinions. What are YOU doing to HELP?
With “HONOR AND RESPECT” – Steve Gerbsman
1LT Steven R Gerbsman 2 Bn 104 Arty NYNG – Honorable Discharge June 1972
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