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E-commerce marketing technology company Rokt may have a recent $3.6 billion valuation up its sleeve as it works towards a Nasdaq initial public offering (IPO) in 2023, but any prospective investors will now know that 1 per cent of profits will be given to philanthropic causes.
This is because Rokt has joined the likes of Atlassian, Canva, Salesforce and others by becoming part Pledge 1% - a movement designed to inspire, educate and empower companies to make a positive social impact by donating 1% of their time, product, equity or profit, in any combination, to charitable initiatives of their choice.
Pledge 1% counts Blackbird Ventures amongst its VC supporters, as well as Australian Philanthropic Services and Philanthropy Australia amongst its partners.
Numerous Australian companies have committed to the movement including ATEO, Aussie Broadband (ASX: ABB), BrickX, Canva, Centennial Property Group, Class Bento, Good Spirits Co, Hackathons Australia, Hub Australia, Inauro, Melbourne Hydronic Heating, Milkbar Breastpumps, NEXTDC (ASX: NXT), Orro Group, Pearler, Plenary Funds Management, Qualio, Quality.com.au, Quiip, Reddy Project Management, SafetyCulture, OKR Quickstart, SMEx Digital, The Home Loan Guy, Two21, and WeAreDigital.
By joining the movement, Rokt has committed to donating 1 per cent of its product by placing personalised and localised add-to-cart donation offers for various charities across the billions of ecommerce transactions the company powers.
In addition, the company is committing 1 per cent of its profit to help improve access to education for underserved communities.
"We could not imagine a better way to celebrate our 10th year in business than by joining forces with Pledge 1% to give back and act as a force for good in our communities," said Rokt founder and CEO Bruce Buchanan.
"Our hope is that through these initiatives, we unleash people's potential and make the world a better place for all."
Having raised US$530 million in funding, New York-based Rokt is expected to power more than 2.5 billion transactions globally in 2023 for more than 2,500 of the world's leading companies.
"We're thrilled that Rokt has chosen to mark its milestone 10th anniversary by joining the Pledge 1% movement," said Scott Farquhar, co-founder and co-CEO of Atlassian, one of the founding partner companies of Pledge 1%.
"Rokt will not only make a positive impact through its product and profit donations, but also set an example that all of its partners can look up to. As an industry leader, Rokt is paving the way toward a brighter future where every company is committed to effecting positive change
In 2022, Rokt has added Uber, AMC Theatres and many other leading names to its global client roster as companies across multiple verticals have focused on unlocking incremental revenue amid rising inflation and an uncertain economic environment. The company recently named Nathaniel Katz as CFO and appointed former Neiman Marcus Group CEO Karen Katz as a member of its board of directors.
Buchanan founded Rokt in Sydney in 2012 to solve the paradox of choice for e-commerce shoppers through relevancy. Today, the company has offices in New York City, London, Singapore and Tokyo, and plans to open a second North American product development centre next year.
Rokt originally launched with just 10 employees, but has grown to employ more than 400 professionals who serve clients across 14 global markets. Rokt continues to grow its ranks worldwide and is currently recruiting for more than 70 roles, even as other ecommerce technology companies are announcing significant layoffs.
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