Growing market share to unlock massive revenue opportunity
Updater’s (UPD) online platform provides movers with a seamless process to enable transferring of insurance contracts, utilities, forwarding of mail, updating of accounts and the many other tedious tasks associated with relocation. The typical mover wastes around 10 hours reaching out inefficiently to individual businesses currently to update their records etc.The mover market is massive, with 17m households relocating p.a. in the US alone. The average American moves a staggering 10-15 times throughout their lifetime. Since launching its integration platform in February 2015, the Company has impressively increased their market share of processed moves in the US from 0% to more than 4% in a little over 12 months. The target by the end of 2017 is 15% market share. Full details including price target and recommendation are contained within the attached research report.