Introduction

Three years ago when I came back to Australia at the beginning of the pandemic, I made a commitment to sit in the product chair and build relentlessly with the team. As of July I have now returned to my role as fulltime CEO and I am now 100% focused on go-to-market, pilots, strategy and capital raising.

It’s been some time since I have written a formal investor update, so to those investors that do not follow revealit TV socials I am sorry this newsletter is going to be longer than I would like but jam packed with what I suspect are pleasant surprises.

Thank you for your loyalty and patience the good news is, it’s getting exciting as we engage with Television Networks to pilot the revealit TV platform in 2023 and can see our first revenues. Read on for more details

To watch a video jam packed with all the latest features at revealit TV watch the beginners tour below:

Newsflash: Conversational Audio Patent Granted

On August 4 revealit TV was granted a patent for a conversational audio interface for viewers searching and shopping video on their TV, the patent protects our conversational audio IP and allows viewers to converse with their TV to shop what they see like this.

Channel 7 Pilot Opportunity

As we progress towards version 1 of the revealit TV platform it’s easier to demonstrate our capability to make TV content more interactive, shoppable, and relevant to viewers and television networks.

We are presently engaged on an exciting opportunity to pilot shoppable video with Channel 7. I have been working on the Network 7 relationship with revealit TV Investor and Media Founders Advisor, Natalie Lawley who has extensive media executive experience and deep relationships in the Australian media.

There is an important onsite meeting in August with channel 7 executives, and the team has been working diligently including with our immersive reality partners Glimpse to demonstrate the very best of shoppable video using current channel 7 content.

Our goal is to receive a letter of intent to pilot revealit TV at seven, earn first revenues, and build the last mile of our platform side by side with customers to ensure a great product market fit for our platform.

The revealit TV Platform Beta is Live

Our Mission has always been to build a future of TV that makes TV content more interactive, shoppable, and relevant to viewers.

We knew we needed to combine technology and deep research into a cohesive platform including building an extensive set of tools, infrastructure, and apps.

We have never shied away from that ambitious goal.

in April our platform beta went live, here is what each part does.

Monetizing the Platform

1. Using our crowd source platform we train our AI Engine to find product in every frame of a video that we upload using the Campaign Manager.
2. Campaigns are created in the Campaign Manager with in-frame experiences, that we then sell to brands for up to 10X more than intrusive ads.
3. Using The Players users Stop, Shop, Try and Buy the products, and we make money with a gross margin around 80% +every time that happens.

New Mobile App Features Delivered

As investors you already know the revealit TV mobile app is The world’s only mobile streaming app that allows viewers to stop, shop and interact with content.

We released many world-first features this year including:

1. Smart TV Shopping :   with our patented “Shazam for Video ” See here how to Shop on your Smart TV.
2. Digital Micropayments:  with our embedded digital payments wallet get rewarded with instant free micro-payments of Bitcoin.
3. Biometric Shopping:  with our 100% facial recognition approach to shopping and streaming you will never need a password.
4. Immersive Experiences:  the moment you are inspired by the content you can try on the makeup, the watch, and the shoes right there in frame.
5. Recipe Ingredients: shop recipe ingredients at the click of a button.

See here the revealit TV beginners guide video jam packed with all the latest features we have released.

The Crowd Curator Platform is Live

To lower the cost of finding products in video, revealit TV made a strategic decision to build our own crowd sourcing platform we call The Crowd Curator. 

As CEO if I had to pick a single deliverable that exceeded all my expectations and that I am most proud of it would be deploying our patented pending crowd curator platform and witness the crowd complete 10M frames of training earlier this year. Why? The Crowd Curator:

1. Supports the success of the revealit TV platform by lowering our ad unit cost of acquisition by up to 15X.
2. Increases our profits and ability to scale and therefore
3. Increases our company valuation.

See a short video explaining the crowd curator here 

Planned Product Milestones H2 2023

1. World Class Immersive Experiences

At revealit TV we are proud to embed the same world class augmented and virtual reality experiences as Snapchat due to our long standing relationship with The Glimpse Group  (NASDAQ: VRAR). Glimpse continue to deliver the most innovative try-on and immersive reality experience’s in the business and we are working closely with them in Q3 to embed the following try-on experiences into our revealit TV app for the channel 7 pilot.

1. Nail Polish Try On
2. Makeup Try on
3. Shoe Try on
4. Watch Try on

These features engage viewers to Stop, Shop, Try it and Buy It at the exact moment they are inspired by TV content.

2. New Samsung, LG and Web Browser Apps

Currently viewers can only experience shoppable video on our IOS and Android players,  prior to the end of the year we will release players on

1. The Web
2. Samsung TV
3. LG TV

With more gaming and TV consoles like Roku to follow next year.

3. AI Conversational Interfaces

From the start revealit TV has been dedicated to allowing viewers to have a natural voice conversation with their TV to shop what they see.  

We filed conversational AI patents in 2017 and have been waiting patiently for AI to catch up.  That moment is now, so In Q4 we will begin storing the vast amounts of video data required to make conversational audio and natural language interfaces (Chat GPT) a reality at revealit TV. 

In Q1 of 2024 we will deliver a natural language Chat GPT style text-based search followed by the ability for viewers to have a full voice conversation with their TV when shopping video later that year.  Read more in the Patent Portfolio Update

Example Queries:

“Show me wine decanters in John Wick Movies I have watched”

“What dress and lipstick was Taylor Swift wearing on last nights episode of The Voice.”

“Show me some scenes in Logan Roy’s house on Succession with pendant lights”

Team Highlights

We recently appointed Natalie Lawley as a Media Founders Advisor and she has been helping me with Channel 7.  I am grateful to be guided by an advisor with incredible media experience, who is also a media entrepreneur in an industry I still have much to learn about.

I would not have been able to return to my CEO role without  the world class software engineering expertise of our new hire from Salesforce Michael Lynch.

Michael has been running the product team alongside Anoushka Doctor our very own star from the revealit engineering team. Anoushka Doctor has been promoted from developer to product owner.

I leave product confident it is in the very best of hands.

Appointment of Natalie Lawley from Escapade Media as an Advisor

Natalie is the Founder and CEO of Escapade Media where she utilizes her extensive experience as a media executive to help creatives develop, co-produce and sell content from around the globe to the international market. 

 Natalie started her media career in London and moved to Australia as the manager of ABC Commercial Content Sales where she created the ABC’s first commissioned feature documentary Stop At Nothing which remains a Netflix’s Top 5 sports documentary. At ABC she also created premium titles such as The Flying Winemaker, The WotWots, and A Cautionary Tail, narrated by Cate Blanchett. 

At Escapade Media Natalie secures content for global distribution while also being the Executive Producer on shows including Stop At Nothing, Chasing Chaos, Food.Sail.Love, Art of Killing, The Best Kind of Beautiful, Sherlock & Daughter, and Grassroots.

Appointment of Michael Lynch Ex VP Engineering Salesforce

Michael Lynch is a software industry executive with 25+ years of experience building enterprise-class SaaS software and scaling engineering organizations. Most recently he was VP of engineering at Salesforce leading agile delivery for a large product after successfully delivering many Salesforce products over the preceding 15 years.

Michael opened Salesforce’s presence in Oregon in 2013 and hired the first 100 employees while establishing the new office. He is passionate about the software development process; hiring and mentoring great engineers; and developing and fostering a successful engineering culture in organizations.

Previous to Salesforce he built go-to-market engineering teams at Openwave Systems and Excite@Home.

Patent Portfolio Update

revealit TV has developed an exciting comprehensive IP portfolio over the last 3 years that covers the hottest video AI technology in TV and video in the world today. Our portfolio covers generative AI, immersive media, natural language processing, conversational audio interfaces, audio fingerprinting, video analytics, finding products in video, contextual AI, crowd sourced training and more. 

revealit corporation has 6 patents, 3 granted and 3 pending covering all these areas and more. The 3 pending patents are expected to be granted by the end of 2023. Additionally, we have another 40 claimed inventions ready to file with a prior many with an invention date of March 2017, which means they are protected from prior art after that date.

Granted Patents

I am of the opinion you should not read a patent document unless you suffer insomnia but for the record here are our 3 granted patents with plain english titles.

1. An AI method and system for Identifying products in video. Read Patent 1
2. revealit TV’s  green, blue and orange computer user interfaces including shopping what your see on your Smart TV . Read Patent 2
3. The ability to have a natural two way voice or text conversation with your TV to shop what you see on your Smart TV. Read Patent 3

The combined power of these three patents means today we own IP protecting our shoppable video experiences from the touch interface through to conversational voice. We have built a moat in shoppable video that is difficult for competitors to cross and there is still more IP to come.

While our patent portfolio could likely be monetized in the current market, that is not our goal.

Patent portfolios have proven to drive higher valuations in capital raises and acquisitions as they bring bone fide IP protection and rights to investors.

In Q1 2024 we are planning to conduct a crowd equity raise and I am confident our patent portfolio will impress the market, and help attract a higher valuation for revealit investors.

“Our original provisional was filed 3 months before the famous Google Transformers paper of June 2017 (“Attention is All You Need”) which is what enabled the LLMs and Conversational AI to take off. We have concept of “attention” all over the place in our application that pre-dates Google’s paper and we have some references to vectorization…..The reality is revealit TV’s investment in video AI technology and the associated patents was early enough that it’s positioned to own the generative AI video media future“

-CTO Steven Flinn, 2022 Board Report

The Capital Raising Plan

To date revealit corporation has raised US $3M dollars.

We are currently raising a further US $2M in seed dollars to:

1. Finish version 1 of the platform side by side in Australia with TV networks pilots.
2. Earn first revenues.
3. Complete our US crowd equity raise of US $10M.

It has been my experience around the globe that consumers intuitively understand and intuitively want shoppable TV.

Whenever I present revealit TV I am always surrounded by eager audience members afterwards wanting to invest and use the app. Regrettably, I have to say no, because it’s illegal to market and sell startup shares publicly.

It is for this reason we are excited to conduct a crowd equity raise with startengine.com which will allow us to legally market our raise to consumers everywhere including startengine’s 1 million registered investors.

I am confident this raise will allow us to instantly grow users by 10K and raise investment for our consumer streaming platform simultaneously.

The public marketing of the raise will build incredible awareness of our unique platform and its launch plan in 2024. The raise will finance the launch of our consumer streaming channel (FAST) with a strong spend on content licensing and marketing.

We have retained respected Silicon Valley start-up attorneys Wilson Sonsini and accountants Moss Adams for SEC compliance. Our plan is to conduct this raise in tandem with pitching VCs to participate.

Going to Market

If you have made it this far in this mega revealit TV post pandemic newsletter, congratulations, it’s a lot of information with no room to explain the more technical pieces

It has been a very busy and productive pandemic journey in Australia over the last 3 years and now I am headed back to the USA before the end of the year to grow revenue in 2024.

I relish the opportunity to finish the revealit TV platform, go-to-market and grow revenue in the USA.

Return on your Investment

The good news for investors is we have role models at Pluto TV, Xumo TV and Tubi TV who are now worth over $2B and we are treading their path.

With the right amount of capital I believe there will be opportunities for investors to sell their shares in a float or acquisition in the next 2-5 years and nothing would make me happier.

Thank you for being a revealit TV Investor, I consider it a privilege to build revealit TV.

With the foundation we have established, I am confident revealit TV can be the future of the immersive next generation of TV that is upon us.