Manalto (ASX:MTL) has expanded distribution of its Sóshlr social media management product in the Asia Pacific region via a commercial agreement with Singapore-based cloud services company ReadySpace.
This plan will include ReadySpace initially targeting selected small businesses via its Applicacious brand before a wider deployment of the product via the ReadySpace brand across its markets.
ReadySpace is estimated to serve 10,000 businesses and users across the Asia Pacific in Singapore, Hong Kong, Malaysia, Australia, Indonesia, India and the Philippines, as well as the U.S.
Manalto's Sóshlr subsidiary will now start the enablement process in conjunction with the ReadySpace team to deliver technical and sales readiness, to be completed by March.
The Sóshlr product provides cloud-based social media management functionality to small to medium enterprises (SME) to deliver time savings and single visibility of social media activity across Facebook, Twitter, Linkedin and Instagram.
Building upon the early market momentum achieved since the launch of Sóshlr in mid-2015, Manalto has seen an upward level of interest from the Asia Pacific and European markets.
Additionally, during this time, the company has accelerated its propensity to drive growth within these regions, both at a commercial and capability level.
Early market traction
Manalto has now signed four distribution agreements with hosting companies and resellers that reach an estimated 1 million SMEs.
The company's first two resellers, LuxCloud and TopCloud, are actively selling to a combined partner base of 650+ value-added resellers (NYSE:VAR), IT distributers, hosting companies and telcos globally.
Another deal with Ireland's largest domain registrar and hosting company Blacknight has begun commercialisation with an estimated addressable market of 120,000 SMEs.
These partnerships, including Odin's ISV Accelerate team, deliver Sóshlr access to a combined, indirect sales force of up to 90 people.
To further the growth of Sóshlr, Manalto is in negotiations with another six hosting companies which are currently trialling the product.
Once complete, these potential partnerships would increase Manalto's addressable market by an estimated 5 million unique SMEs.
The ReadySpace deal represents an extension of the impressive market response to Sóshlr and emphasises the level of interest in the product globally.
Importantly, the ReadySpace agreement marks the first entrance of Sóshlr into the Asia Pacific region, after a number of European distribution deals.
This progress also illustrates Manalto's ability to enable customers from multiple regions to easily do business with the company.
As a result, Manalto is in a good position to be a true global provider and help propel growth in these regions.
The company's business model is supported in a macro context by global trends in social network ad spending, which is expected to value US$36 billion by 2017.
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