PLDT invests $5M in Matrixx
Philippine Long Distance Telephone Co. (PLDT) said its overseas venture capital arm closed a $5-million investment in California-based Matrixx Software, whose platform was expected to bolster the giant telco’s ability to monetize digital assets like content and services.
PLDT Capital co-managing director Winston Damarillo said in a video conference yesterday that the investment gave them a 4-percent stake in the company, apart from exclusivity and commercial pricing advantages.
The development marks PLDT Capital’s fifth investment, after iflix, Hopscotch, Appcard and Phunware. All told, PLDT Capital has invested about $36 million in these companies in line with a strategy to expand the group’s digital footprint.
“Our customer is going beyond dial tone, SMS and data,” Damarillo said, referring to the Matrixx investment.
“We must have the ability to charge and bill for services that we offer,” he added. He declined to give details on the company’s revenues. He said Matrixx’s real-time digital commerce platform is used by other large telcos like United Kingdom-based Vodafone and Australia’s Telstra.
The Matrixx will be deployed in the Philippines via Smart Communications, the company said.
The PLDT group has nearly 70 million wireless subscribers and, Damarillo said, its wide footprint made it an attractive partner for tech companies seeking to expand in this region.
Matrixx will enable Smart to deliver various lifestyle services and content that can be individually purchased and customized. Moreover, its customers will have the freedom to manage their mobile account usage and spend, tailor services and choose ‘sachet-size’ packages based on their preferences and budgets.
In its statement, PLDT said the Matrixx platform was chosen because of its real-time, customer-centric platform that “could jump-start entry into the digital market without a lengthy IT project.”
Matrixx installed and integrated the solution within weeks, allowing rapid time-to-market for future service propositions that will capture wallet-share and customer loyalty.
