Our company's mission is to make commerce smarter and rewarding for everyone.
−Removed: We work to accomplish this mission by operating an advertising platform within our own and our partners' digital channels, which include online, mobile applications, email, and various real-time notifications (the "Cardlytics platform").
−Removed: We also operate a customer data platform that utilizes point-of-sale ("POS") data, including product-level purchase data, to enable marketers, in a privacy-protective manner, to perform analytics and targeted loyalty marketing and also enable marketers to measure the impact of their marketing (the "Bridg platform").
+Added: We work to accomplish this mission by operating an advertising platform within our own and our partners' digital channels, which includes online, mobile applications, email and various real-time notifications (the "Cardlytics platform").
+Added: We also operate a customer data platform that utilizes point-of-sale ("POS") data, including product-level purchase data, to enable marketers to perform analytics and targeted loyalty marketing and also measure the impact of their marketing (the "Bridg platform").
The partners for the Cardlytics platform are predominantly financial institutions ("FI partners") that provide us with access to their anonymized purchase data and digital banking customers.
−Removed: The partners for the Bridg platform predominantly are merchants ("merchant data partners") that provide us with access to their POS data, including product-level purchase data.
+Added: The partners for the Bridg platform are predominantly merchants ("merchant data partners") that provide us with access to their POS data, including product-level purchase data.
By applying advanced analytics to the purchase data we receive, we make it actionable, helping marketers reach potential buyers at scale and measure the true sales impact of their marketing spend.
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Additionally, the Cardlytics platform benefits customers and enhances their overall experience by showing them relevant advertisements tailored to their spending patterns and specific interests.
−Removed: We maintain similar platforms in both the United States ("U.S.") and United Kingdom ("U.K.").
+Added: We maintain the Cardlytics platform in both the United States ("U.S.") and United Kingdom ("U.K.").
The Cardlytics platform helps marketers find potential new customers that are active in their category but not currently shopping with them, or to grow their business with existing customers.
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The Cardlytics platform helps solve fundamental problems for our FI partners.
−Removed: Leveraging our powerful predictive analytics, we create compelling rewards that have the potential to drive deeper and more sustained use of the FI's digital channels, which we believe reduces customer attrition and increases use of the FIs’ credit and debit cards.
+Added: Leveraging our powerful predictive analytics, we create compelling rewards that have the potential to drive deeper and more sustained use of the FI's digital channels, which we believe reduces customer attrition and increases use of the FI partners’ credit and debit cards.
Today, our FI partners include Bank of America, National Association ("Bank of America"), JPMorgan Chase Bank, National Association (“Chase”) and Wells Fargo Bank, National Association ("Wells Fargo"), as well as many other national and regional financial institutions, financial technology companies and virtual-only banks.
−Removed: We also partner with several of the largest bank processors and digital banking providers to help us reach customers of small and mid-sized FIs.
+Added: We also partner with several of the largest bank processors and digital banking providers to help us reach customers of small and mid-sized FI partners.
The Bridg Platform
−Removed: The Bridg platform is a customer data platform, that utilizes POS data from our merchant data partners, including product-level purchase data to enable marketers to perform analytics and targeted loyalty marketing in a privacy protected manner.
+Added: The Bridg platform is a customer data platform that utilizes POS data from our merchant data partners, including product-level purchase data to enable marketers to perform analytics and targeted loyalty marketing.
Bridg also enables marketers to measure the impact of their marketing.
The Bridg platform's unique ability to identify, understand, and engage previously unreachable in-store customers is made possible through industry leading identity resolution, proprietary census of identity and characteristics, and unique strategic data partnerships.
+Added: In 2023, we launched an additional product offered through the Bridg platform, Rippl, a data and media network.
+Added: This product is a unique solution that unlocks profitable retail media partnerships for regional grocers, brands, and consumer packaged goods companies by leveraging first-party customer data in order to strengthen targeting capability for retail media purposes.
Purchase Intelligence
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Purchase data from our FI partners provides a secure view into where and when consumers are spending their money.
−Removed: The Cardlytics platform aggregates and analyzes purchase data without any personally identifiable information ("PII") leaving the FI or otherwise being made available to us.
−Removed: The data from the FI is anonymized so that it cannot be associated with any one individual.
+Added: The Cardlytics platform aggregates and analyzes purchase data without any personally identifiable information ("PII") leaving the FI partnersor otherwise being made available to us.
+Added: The data provided by the FI partner is anonymized so that it cannot be associated with any one individual.
In the U.S., the Cardlytics platform ingests approximately one in every two debit and credit card transactions.
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Point-of-Sale Data from our Merchant Data Partners
−Removed: Using POS data from our merchant data partners and our proprietary bureau of offline identity information, the Bridg platform associates customer purchases with developed identifiers.
−Removed: We then build privacy-protective profiles that include product-level purchase history and hundreds of customer attributes to enable marketing and analytics.
+Added: Using POS data from our merchant data partners and our proprietary bureau of offline identity information, the Bridg platform associates customer transactions with anonymized identifiers.
+Added: We then build anonymized profiles that include product-level purchase history and hundreds of customer attributes to enable marketing and analytics.
Advanced Analytics Capabilities
−Removed: The advanced analytics we apply to our unique purchase datasets are what transforms them into valuable purchase intelligence.
−Removed: We use sophisticated quantitative methods to quickly access our massive volumes of data and make sense of what has happened—and, importantly, what is likely to happen.
−Removed: Our analytics makes our data actionable, enabling us to develop insights that marketers and partners rely on to make more informed business decisions and more meaningful customer connections.
−Removed: Since we are able to measure the impact marketing campaigns have on in-store and online sales, marketers can use our purchase intelligence to optimize their advertising efforts and increase their investment in the Cardlytics and Bridg platforms to enhance future campaigns.
+Added: The advanced analytics we apply to our unique purchase datasets are what transform them into valuable purchase intelligence.
+Added: We use sophisticated quantitative methods to quickly access our massive volumes of data and make sense of past customer spend—and, importantly, predict future customer spend.
+Added: Our analytics make our data actionable, enabling us to develop insights that marketers and partners rely on to make more informed business decisions and create more meaningful customer connections.
+Added: Since we are able to measure the impact marketing campaigns have on in-store and online sales, marketers can use our purchase intelligence to optimize their advertising efforts with new or increased investment in the Cardlytics and Bridg platforms.
Given our granular view into consumer spending across all categories, we can also help marketers identify share shift against their competition and learn more about where else their customers spend their money.
For our FI partners, we use our analytics to optimize the offers we display to customers within our Cardlytics platform.
−Removed: By assigning relevancy scores to each offer based on what customers are most likely to buy, our Cardlytics platform can present the most relevant offers earlier in customers’ mobile and online banking sessions.
+Added: By assigning relevancy scores to each offer based on what customers are most likely to buy, our Cardlytics platform can present the most relevant offers more prominently in customers' mobile and online banking experiences.
This increases the likelihood that customers activate, redeem, and earn more cash back on the things they care about most.
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Cardlytics Platform
−Removed: We have architected privacy and security into our systems and practices.
−Removed: A critical part of our strategy involves a design focused on gathering data without collecting, maintaining or using sensitive information, such as social security numbers, credit card numbers, financial account information or medical records.
−Removed: Our platforms are currently designed so that we do not receive or have access to any PII from our FI partners.
−Removed: We only target marketing against anonymized data and/or data that has undergone processing such that it is only linked to pseudonymous identifiers.
−Removed: This approach to privacy is intended to protect consumers.
−Removed: Our privacy and security standards have also been designed and implemented to meet the requirements of, and safeguard the reputations of, our partners and marketers, many of which are large, multinational corporations.
+Added: We take privacy and security into account in the development and implementation of our systems and services.
+Added: A critical part of our strategy involves a design focused on gathering data without collecting, maintaining or using sensitive personal data, such as social security numbers, credit card numbers, financial account information or medical records.
+Added: Our platforms are designed so that we do not receive or have access to any PII from our FI partners.
+Added: We only target marketing against anonymized data and/or data that has undergone processing such that it is only linked to anonymized identifiers.
+Added: Our privacy and security standards have also been designed to meet the requirements of, and safeguard the reputations of, our partners and marketers, many of which are large, multinational corporations.
These customers frequently audit our practices and engage in detailed assessments of our infrastructure.
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Each FI partner's Ad Server is either hosted at the FI partner's data center behind the FI partner's firewall or hosted by us on behalf of the FI partner.
−Removed: The Ad Server interfaces with our FI partners' systems to receive anonymized purchase data, assign a unique consumer ID to each FI partners' customer, which we call a Cardlytics ID, and aggregate this purchase data.
−Removed: The Cardlytics ID is then used to assign offers, measure redemptions, and in limited cases, validate certain online purchases via anonymously linking to a consumer’s digital media presence.
−Removed: The Ad Server also receives engagement data, such as impressions and activations related to each Cardlytics ID.
−Removed: The Ads Manager is hosted in our data centers behind our firewall and is used to create, manage and publish marketing campaigns to each FI partner's Ad Server.
−Removed: The Ads Manager also provides a majority of the functionality for managing configuration settings within each Ad Server and the transfer of data between Cardlytics and our partners.
+Added: The Ad Server interfaces with our FI partners' systems to receive anonymized purchase data, assign a unique consumer ID to each FI partners' customer, and aggregate this purchase data.
+Added: The unique consumer ID is then used to assign offers, measure redemptions, and in limited cases, validate certain online purchases.
+Added: The Ad Server also receives engagement data, such as impressions and activations, related to each unique consumer ID.
+Added: Ads Manager is hosted in cloud data centers behind our firewall and is used to create, manage and publish marketing campaigns to each FI partner's Ad Server.
+Added: Ads Manager also provides a majority of the functionality for managing configuration settings within each Ad Server and transferring data between Cardlytics and our FI partners.
We have implemented a number of security controls.
−Removed: Our security environment has achieved both SOC 1 Type II and SOC 2 Type II certifications, and has been audited by third parties using standards, which include Statement on Standards for Attestation Engagements No.
−Removed: 18 (SSAE 18), AICPA Auditing Standards Board-issued Statement on Quality Control Standard (SQCS) and Statements on Auditing Standards (SAS).
+Added: Certain of our environments and systems have been certified as SOC 1 Type II or SOC 2 Type II compliant by third parties.
Sensitive data is subject to encryption, anonymization, or de-identification depending on the use case and risk profile.
−Removed: We enhance network security through measures such as network segmentation, firewalls and network and host-based intrusion detection at critical network aggregation and ingress/egress points.
−Removed: A cornerstone of our practices is transparency in data use and consumer choice.
−Removed: Our privacy policy outlines the types of data we collect and how we use it.
−Removed: Most of our FI partners maintain different types of "opt-out” features for any consumer wishing to opt out of the FI partners' rewards program on the Cardlytics platform.
−Removed: Outside of the U.S., our privacy and data handling practices are subject to regulation by data protection authorities and other regulators in the countries in which we do business, which may be more restrictive than the requirements that we are subject to in the U.S.
+Added: We enhance our network security through measures such as network segmentation, firewalls and network and host-based intrusion detection at critical network aggregation and ingress/egress points.
Bridg Platform
−Removed: The Bridg platform was designed to comply with privacy laws and regulations throughout the U.S.
−Removed: The Bridg platform also has built-in privacy protections to ensure that data provided by clients is never sold or shared without their consent, and personal information relating to newly identified consumers is never shared with the clients.
−Removed: Further, as we seek to deploy the Bridg platform outside the U.S., we will utilize appropriate practices to ensure compliance with General Data Protection Regulation (“GDPR”) and other like data protection regimes.
+Added: The Bridg platform was designed to comply with applicable privacy laws and regulations.
+Added: The Bridg platform also has built-in privacy protections to ensure that data provided by clients is never sold or shared without their consent, and personal data relating to newly identified consumers is never shared with the clients.
Competitive Strengths
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• Significant Scale with FI Partners and Deeply Embedded Solution .
−Removed: We are generally the exclusive provider of native bank channel digital advertising to our FI partners as their digital channels are typically not conducive to supporting marketing content from multiple vendors.
+Added: We are generally the primary provider of native bank channel digital advertising to our FI partners.
Our ability to connect and support multiple banks as a single vendor provides network scale that would otherwise be impossible for a single bank to achieve.
−Removed: Further, advertising within FIs' digital channels requires deep technological integrations, which we believe increases the cost of switching or supporting multiple vendors and therefore increases partner loyalty to us.
+Added: Further, advertising within FI Partners' digital channels requires deep technological integrations, which we believe increases the cost of switching or supporting multiple vendors and therefore increases partner loyalty to us.
• Valuable Touchpoints with Customers of our FI Partners .
−Removed: The Cardlytics platform enables marketers to reach consumers in a secure, brand-safe, and digitally engaging environment, when they are thinking about their finances.
+Added: The Cardlytics platform enables marketers to reach consumers in a secure, brand-safe, and digitally engaging environment, at a time when they are thinking about their finances.
We have access to consumers through both online and mobile channels and are increasingly reaching them through various other channels, including emails and real-time notifications.
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• Significant Scale with Marketers due to Consumer Insights and Compelling Return on Advertising Spend .
−Removed: We provide compelling return on advertising spend due to our ability to influence likely buyers through our insights into consumer purchase data.
+Added: We provide compelling return on advertising spend due to our ability to influence likely buyers, which we demonstrate through our insights into consumer purchase data.
This allows us to serve marketers at scale across a variety of industries, including retail, restaurant, travel and entertainment, direct-to-consumer, and grocery and gas.
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• Proprietary Technology Architecture and Advanced Analytics Capabilities .
−Removed: We have designed the Cardlytics platform to protect highly sensitive first-party data.
+Added: We have designed the Cardlytics platform to protect first-party data.
Our proprietary, distributed architecture helps facilitate both the effective delivery of our solution and the protection of our FI partners' customers' PII.
−Removed: No PII is shared by FI partners with Cardlytics and the data is anonymized so that it cannot be associated with any one individual.
+Added: No PII is shared by FI partners with Cardlytics and the data received from FI partners is anonymized and cannot be associated with any known individual.
Our technologies leverage proprietary algorithms to process raw purchase data into normalized purchase history useful for marketing and analytics.
−Removed: Our Cardlytics platform also supports integration of data from third-party sources to enrich the intelligence that we provide.
+Added: The Cardlytics platform also supports integration of data from third-party sources to enrich the intelligence that we provide.
Further, we apply advanced analytics to continuously increase our intelligence capabilities and identify actionable behavior patterns for our marketers.
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We use sophisticated quantitative methods to quickly access our massive volumes of data and make sense of what has happened—and, importantly, what is likely to happen.
−Removed: Our analytics makes our data actionable, enabling us to develop insights that marketers and partners rely on to make more informed business decisions and more meaningful customer connections.
+Added: Our analytics makes our data actionable, enabling us to develop insights that marketers and partners rely on to make more informed business decisions and create more meaningful customer connections.
• Loyalty Tactics Beyond Loyalty Programs .
The Bridg platform easily ingests POS data, allowing marketers to identify and reach previously unreachable customers.
−Removed: This allows marketers to utilize loyalty tactics across all of their customers and enjoy the same rich insights, targeted marketing capabilities, and closed loop measurement as digital brands.
+Added: This allows marketers to utilize loyalty tactics across all of their customers and enjoy rich insights, targeted marketing capabilities, and closed loop measurement regardless of their digital presence.
• World-Class Management Team with Unique Combination of Backgrounds and Experiences .
−Removed: Our team’s extensive experience across banking, technology and marketing is invaluable in our ability to forge relationships with FI partners and market and understand the technical complexities inherent in building platforms that are transforming and disrupting the marketing industry.
+Added: Our team’s extensive experience across banking, technology and marketing is invaluable for our ability to forge relationships with FI partners and marketers and understand the technical complexities inherent in building platforms to transform and disrupt the marketing industry.
Growth Strategies
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• Grow our Business with Marketers .
−Removed: While we already work with many large marketers, our platforms currently capture only a small portion of their overall marketing spend.
+Added: While we already work with many large marketers, we currently capture only a small portion of their overall marketing spend.
We intend to continue expanding our sales and marketing efforts to grow our share of advertising budgets from existing marketers and attract new brands, merchants and service providers, both directly and through advertising agencies.
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We also intend to continue growing the footprint of the Bridg platform through both new and existing merchant data partners.
−Removed: • Continue to Innovate and Evolve our Platform .
−Removed: As we continue to grow our data assets and enhance our Cardlytics platform, we are also developing new solutions, greater automation and increasingly sophisticated analytical capabilities.
−Removed: Our innovation is also focused on evolving our offer formats and expanding the types of offers within the Cardlytics platform, including product-level offers sourced from Bridg’s merchant data partners that can be distributed and managed within the Cardlytics platform.
−Removed: As we have in the past, we plan to continue to work in close collaboration with our partners to develop new purchase intelligence-based analytic solutions to enable marketers to make more informed business decisions.
• Continue to Realize Synergies between the Cardlytics and Bridg Platforms.
−Removed: The acquisition of Bridg allows for synergies with the current Cardlytics platform by creating more relevant offers, and more targeted segments, that can drive higher redemptions, increase consumer engagement, and generate greater advertiser demand.
−Removed: We believe integrating the Cardlytics and Bridg platforms has the potential to enable more effective media measurement (power promotional effectiveness across in-store and online channels), price and promotion optimization, more optimal partner relationships and further international expansion.
+Added: The power of Bridg allows for synergies with the current Cardlytics platform by creating more relevant offers, and more targeted segments, that can drive higher redemptions, increase consumer engagement, and generate greater advertiser demand.
+Added: The SKU-level data allows us to bring receipt-level offers to our advertisers, enabling us to tailor promotions based on specific items and quantities.
+Added: These types of offers enhance the precision of the advertising efforts and boost the relevancy of the offers to the end consumers.
+Added: We believe that further integrating the Cardlytics and Bridg platforms has the potential to enable more effective media measurement, price and promotion optimization, more optimal partner relationships and further international expansion.
• Drive Growth through Existing FI Partners .
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• Expand the Network of Partners .
−Removed: We will continue to focus on growing our network of partners by integrating directly with FI partners, non-bank partners, merchant data partners and by opportunistically reselling our solution through financial processors and payment networks.
−Removed: Each new partner increases the size of our data asset, increasing the value of the Cardlytics and Bridg platforms to both marketers and our existing partners, which we believe will drive growth.
+Added: We will continue to focus on growing our network of partners by integrating with new FI partners, non-bank partners, and merchant data partners.
+Added: Each new partner increases the size of our data asset and addressable audience, increasing the value of the Cardlytics and Bridg platforms to both marketers and our existing partners, which we believe will drive growth.
• Grow the Platform Through Integrations with Partners .
We intend to continue to partner with other media platforms, marketing technology providers, merchant data providers and agencies that can utilize our platforms to serve a broad array of customers.
−Removed: In addition to focusing on the integration of the Cardlytics and Bridg platforms, we intend to focus on continued technological integration of our platforms with those of other complementary market participants.
+Added: We intend to focus on continued technological integration of our platforms with those of other complementary market participants.
We define a partner as a separate contracting entity from which we access data to empower our platforms either directly or through a third-party intermediary, such as a bank processor, digital banking provider or payment network operator.
The partners for the Cardlytics platform are predominantly FI partners that provide us with access to their anonymized purchase data and digital banking customers.
−Removed: We generally pay our partners on the Cardlytics platform a Partner Share, which is a negotiated and fixed percentage of our billings to marketers less any Consumer Incentives that we pay to the partners’ customers and certain third-party data.
−Removed: FI partners that become part of our network through bank processors and digital banking providers may terminate their relationships with these bank processors and digital banking providers and thereby indirectly terminate their relationships with us.
+Added: We generally pay our partners on the Cardlytics platform a Partner Share, which is a negotiated and fixed percentage of our billings to marketers less any Consumer Incentives that we pay to the partners' customers and certain third-party data providers.
Our agreements with our FI partners generally include an automatic renewal feature.
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Agreements with Bank of America
−Removed: Our relationship with Bank of America is governed by a General Services Agreement ("GSA") pursuant to which we provide Bank of America with access to the Cardlytics platform and certain other related services, and a related Statement of Work, which grants Bank of America the right to use the software underlying the Cardlytics platform.
−Removed: The GSA and Statement of Work extends through July 31, 2025, and Bank of America may terminate the GSA and Statement of Work at any time upon 90 days’ written notice.
−Removed: Pursuant to the GSA with Bank of America, we provide the Cardlytics platform to Bank of America customers which includes forming relationships with participating marketers;
−Removed: obtaining and publishing marketer offers to customers after screening both the marketer and specific advertising content;
−Removed: and monitoring redemption rates with respect to Consumer Incentives offered in Cardlytics campaigns.
−Removed: Although we are primarily responsible for securing marketers to advertise on the Cardlytics platform, Bank of America may likewise secure marketers and share a portion of billings with us.
−Removed: Bank of America has the right to approve all marketer offers to be presented to Bank of America customers on the Cardlytics platform.
−Removed: Bank of America may terminate the Master Agreement at any time upon 90 days’ written notice.
+Added: Our relationship with Bank of America is governed by a General Services Agreement pursuant to which we provide Bank of America with access to the Cardlytics platform and certain other related services, and a related Statement of Work (collectively, the "GSA"), which grants Bank of America the right to use the software underlying the Cardlytics platform.
+Added: The GSA extends through July 31, 2025, and Bank of America may terminate the GSA at any time upon 90 days’ written notice.
+Added: Pursuant to the GSA with Bank of America, we provide the Cardlytics platform to Bank of America customers, and as part of our services we form relationships with participating marketers and obtain and publish marketer offers to Bank of America customers.
+Added: Bank of America has the right to approve all offers to be presented to Bank of America customers on the Cardlytics platform.
+Added: Bank of America may terminate the GSA at any time upon 90 days’ written notice.
The GSA will automatically renew for 12-month periods thereafter, unless terminated earlier in accordance with the terms of the GSA.
Under the GSA, we share the revenue that we generate from the sale of advertising within the Bank of America channel with Bank of America, subject to certain exceptions.
−Removed: The amounts that we pay to Bank of America in excess of Consumer Incentives are reflected as Partner Share.
−Removed: The specific Partner Share percentage that we pay is based on whether we or Bank of America have secured the relevant marketer account and other marketer- and transaction-specific factors, provided that we are entitled to retain a minimum percentage of the monthly revenue subject to the GSA.
Agreements with Chase
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The amounts that we pay to Chase in excess of Consumer Incentives are reflected as Partner Share.
−Removed: The specific billing share percentage that we pay is based on whether we or Chase have secured the relevant marketer account and other marketer- and transaction-specific factors, provided that we are entitled to retain a minimum percentage of the monthly revenue subject to the Master Agreement.
+Added: The specific billing share percentage that we pay is based on marketer- and transaction-specific factors.
+Added: In June 2023, we entered into an amendment that increased the portion of advertiser billings that is retained by the Company.
Sales and Marketing
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Our marketing efforts are focused on increasing brand awareness for Cardlytics and Bridg through partnerships, public relations, industry events and publications.
−Removed: Our partner-focused account management team is focused on deepening relationships with existing partners and expanding our network.
We have dedicated sales teams responsible for establishing relationships with marketers and their agencies.
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Each industry team is led by an experienced sales manager and staffed with sales, sales support and service specialists who have deep domain knowledge and industry operating experience.
−Removed: We also have account managers that manage our customer relationships within each industry.
−Removed: We also have a dedicated partner sales team focused on expanding our network by both nurturing our existing relationships and cultivating new relationships with FI partners.
−Removed: Our partner sales team helps drive adoption of our solution offerings and partners with FIs to develop curated content and enhancements to the user experience for FI partners’ customers to drive increased engagement with the Cardlytics Platform.
+Added: We also have account managers that manage our customer relationships within each industry and focus on deepening relationships with existing partners and expanding our network.
+Added: We also have a dedicated FI partner sales team focused on expanding our network by both nurturing our existing relationships and cultivating new relationships with FI partners.
+Added: Our FI partner sales team helps drive adoption of our solution offerings and partners with FIs to develop curated content and enhancements to the user experience for FI partners’ customers to drive increased engagement with the Cardlytics Platform.
The market for utilizing purchase intelligence to power marketing decisions is still emerging, and we believe we are one of the only companies that can provide purchase intelligence with the scale and the level of granularity that is equivalent to ours.
−Removed: We believe that we are the only company with scale that leverages purchase data to enable marketing through FI partner channels at scale, although we believe we currently have competition from other companies that deliver similar solutions on a smaller scale.
+Added: We believe that we are the only company that leverages purchase data to enable marketing through FI partner channels at scale, although we believe we currently have competition from other companies that deliver similar solutions on a smaller scale.
In the future, we may face greater competition from other bank service providers, online retailers, credit card companies, digital publishers and mobile pay providers with access to a substantial amount of consumer purchase data.
There also may be companies with access to FI data that do not enable marketing through FI partner channels at scale today that may be able to do so in the future.
−Removed: While we may successfully partner with a wide range of companies that are, to some extent, currently competitive to us, these companies may become more competitive to us in the future.
+Added: While we may successfully partner with a wide range of companies that are only moderately competitive to us, these companies may become more competitive to us in the future.
As we introduce new solutions, as our existing solutions evolve and as other companies introduce new products and services, we are likely to face additional competition.
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The Bridg platform competes with other companies that operate enterprise customer data platforms.
−Removed: Additionally, Bridg competes or may in the future compete against monoline companies that provide advertising and data solutions such as profile unification or marketing campaign management and analytics, as well as data provisioners, brokers and cooperatives that provide advertising analytics to clients.
+Added: Additionally, Bridg competes or may in the future compete against companies that provide advertising and data solutions such as profile unification or marketing campaign management and analytics, retail media networks, as well as data provisioners, brokers and cooperatives that provide advertising analytics to clients.
Intellectual Property
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and other jurisdictions.
−Removed: As of December 31, 2022, we had eight issued patents relating to our software.
+Added: As of December 31, 2023, we had sixteen issued patents relating to our software.
We cannot assure you that our patents will give us the protection that we seek or that any such patents will not be challenged, invalidated, or circumvented.
Our patents may not provide sufficiently broad protection and may not be enforceable in actions against alleged infringements.
−Removed: We have registered, or are registering, the "Cardlytics," "Dosh," "Bridg" and "Entertainment" names and logos in the U.S.
+Added: We have registered, or are registering, the "Cardlytics," "Dosh", "Bridg" and "Rippl" names and logos in the U.S.
and certain other countries.
−Removed: We have registrations and/or pending applications for additional marks in the U.S.
+Added: We have registrations or pending applications for additional marks in the U.S.
and other countries;
however, we cannot assure you that any future trademark registrations will be issued for pending or future applications or that any registered trademarks will be enforceable or provide adequate protection of our proprietary rights.
−Removed: We also license software from third parties for integration into our offerings, including open source software and other software available on commercially reasonable terms.
+Added: We also license software from third parties for integration into our offerings, including open-source software and other software made available on commercially reasonable terms.
We cannot assure you that such third parties will maintain such software or continue to make it available.
−Removed: We are the registered holder of a variety of domestic and international domain names that include cardlytics.com, dosh.com, bridg.com, entertainment.com and similar variations on those names.
+Added: We are the registered holder of a variety of domestic and international domain names that include cardlytics.com, dosh.com, bridg.com, and similar variations on those names.
In order to protect our unpatented proprietary technologies and processes, we rely on trade secret laws and confidentiality agreements with our employees, consultants, financial institution partners, marketers, vendors and others.
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It may also be more likely that competitors or other third parties will claim that our platforms infringes their proprietary rights.
−Removed: Patent and other intellectual property disputes are common in our industry and we have been involved in such disputes from time to time in the ordinary course of our business.
+Added: Patent and other intellectual property disputes are common in our industry and we have been involved in such disputes in the past in the ordinary course of our business.
Some companies, including some of our competitors, own large numbers of patents, copyrights and trademarks, which they may use to assert claims against us.
Third parties may in the future assert claims of infringement, misappropriation or other violations of intellectual property rights against us.
−Removed: They may also assert such claims against our partners, which we typically indemnify against such claims.
+Added: They may also assert such claims against our partners, and we typically indemnify against such claims.
As the numbers of products and competitors in our market increase and overlaps occur, claims of infringement, misappropriation and other violations of intellectual property rights may increase.
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Headquartered in Atlanta, GA with additional offices in New York, NY;
−Removed: Palo Alto, CA;
+Added: Menlo Park, CA;
Los Angeles, CA;
−Removed: Austin, TX, Detroit, MI;
−Removed: Champaign, IL and London, U.K, our employees are a big part of what drives our exceptional desire to win and help our advertisers and partners win.
−Removed: Diversity, Equity, and Inclusion (“DEI”) is integrated in everything we do.
−Removed: This mindset starts at the top, a significant part of our company goal of creating a “Great place where great people want to be.” DEI is embedded in each aspect of the talent lifecycle:
+Added: Champaign, IL and London, U.K, our employees are an essential part of all of our successes.
+Added: Diversity, Equity, Inclusion, and Belonging ("DEIB") is integrated in everything we do.
+Added: A significant part of our company’s goal of creating a culture that promotes DEIB is embedded in each aspect of the talent lifecycle:
attraction, recruitment, onboarding, development and retention.
We build external relationships to ensure our talent pipelines are filled with candidates of diverse backgrounds.
−Removed: At the foundation of our DEI focus is our employee-led Special Interest Groups (“SIGs”).
+Added: At the foundation of our DEIB focus is our employee-led Special Interest Groups ("SIGs").
These groups facilitate learning and development, holistic wellness, professional connections, philanthropy, and raising awareness internally and externally for meaningful causes.
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Cardlytics Connect, our newest SIG, focuses on our Black and Hispanic employees across the globe.
−Removed: As of December 31, 2022, approximately 42% of our global workforce is made up of women and 42% people of color.
+Added: As of December 31, 2023, our global workforce is made up of approximately 41% women and 44% people of color.
A key component to our sustainability and success is talent development and learning.
−Removed: We are intentional in our efforts to provide all employees opportunities to grow.
−Removed: Additionally, we have introduced initiatives to give all employees access to learning content providers as well as experiencing success with programs for Educational Assistance and student loan reimbursement.
−Removed: Cardlytics University is a resource for both new hires as well as longer-tenured employees, and we have specialized curricula for emerging leaders, managers and mentors.
+Added: We are intentional in our efforts to provide all employees opportunities to grow, including manager development programming, which over 50 managers completed since the launch in 2022.
+Added: Additionally, we have introduced initiatives to give all employees access to learning content providers.
+Added: In 2023, our technical teams consumed over 75 hours of video content, read over 30,000 book pages, and participated in over 150 hours of live training.
+Added: The addition of a second content library for all employees gives us access to over 100 business and soft skill courses, which we are using to build learning pathways to support career journeys.
+Added: Our Educational Assistance program is helping several employees gain master’s degrees, professional certifications and professional development experiences.
+Added: Our student loan reimbursement program helps employees pay down their loans.
+Added: We have revamped our new hire experience to a three day program that includes a more in depth training on all parts of the business, and includes an overview of our new operating model, performance management process, and we introduce all new hires to individual development planning.
Our use of equity compensation allows our employees to operate as owners and is a key component of our total rewards strategy to retain, motivate and attract the best talent.
We encourage our employees to think and act like shareholders, and they are invested in our success.
−Removed: Employee equity is the cornerstone in our compensation philosophy along with comprehensive medical benefits, a positive work/life ratio, unlimited paid time off, health and wellness programs, and learning and development opportunities.
+Added: Employee equity is the cornerstone in our compensation philosophy along with comprehensive medical benefits, a positive work/life ratio, flexible paid time off, health and wellness programs, and learning and development opportunities.
Each year, with the help of outside experts, we evaluate each aspect of compensation and benefits to ensure they are in alignment with the market and our peers.
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Our people and culture are our most valuable assets and greatest differentiators.
−Removed: We take initiative, are hungry to win, value transparency, and make it a priority to create a place where people want to be.
+Added: We prioritize growth over comfort, place our customers and partners first, act with urgency and focus, ensure integrity with our partners and data, hold ourselves accountable even when challenged, and value empowerment over hierarchy.
Corporate Information
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Our common stock is listed on the Nasdaq Global Market under the symbol "CDLX." "Cardlytics," the Cardlytics logo and other trademarks or service marks of Cardlytics, Inc.
−Removed: appearing in this Annual Report on Form 10-K are the property of Cardlytics, Inc.
+Added: or its subsidiaries appearing in this Annual Report on Form 10-K are the property of Cardlytics, Inc.
This Annual Report on Form 10-K contains additional trade names, trademarks and service marks of others, which are the property of their respective owners.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.