It is in this ever-expanding landscape that ASX newcomer Thred Limited (ASX:THD) will look to carve out a niche, providing an app which centralises messages and contact details across all platforms into one simple service.
Listing on the ASX following a reverse-takeover in June 2016, Thred is developing technology known as the Thred app which will integrate with a variety of social media platforms to meet the demands of both businesses, as well as the general public.
This technology is capable of streamlining interaction and saving significant portions of time, with a recent report by Sensis suggesting Australians continue to spend increasing amounts of time on social media.
The research indicates users are now logging an average of more than half a day – 12.5 hours – each week on Facebook.
Australians are also thought to own at least three internet capable devices per-capita and are continuing to adopt other media services, such as Twitter.
“Use of social media in Australia is as pervasive as ever, with the vast majority of people accessing some form of online social media account, in most cases more than one,” David Whitaker, Chief Information Officer and Commercial Director of Thred Limited said.
“Ironically, despite the almost universal appeal of social media, it is becoming harder for online conversations to occur with a sense of continuity, as users swap between photo, voice and text-driven services – and often between different apps using a similar method of communication.
“We are one of the leading companies in the world developing a system we hope will solve this problem. The Thred app will not seek to limit the variety of messaging services used, but merely simplify the process which messages are accessed, through integrated software and a clever visual interface,” he said.
One example of Thred claiming a first mover advantage is in the Social Commerce space, with the company looking to incorporate a digital buying and selling capability within its software.
Another area Thred is heading into is the connected devices space, providing the first device to consumer messaging platform.
Thred’s technology has recently received a significant boost with the company being accepted into Microsoft Corporation’s exclusive Bizsparks Plus Accelerator program.
The program permits Thred to access Microsoft development tools, integration with the Microsoft Azure Platform – which powers the technology giant’s cloudbased communication services – as well as financial and technical support.
Thred is also permitted access to data derived from Microsoft Office 365, one of the world’s most popular email systems, widely used within the business community.
“Having the support of a global institution like Microsoft is absolutely critical for a project as technologically advanced as the Thred app,” Whitaker said.
“Microsoft has some of the most advanced developmenttools and support systems, globally. Their assistance is invaluable for significantly improving both the speed of our development cycles, as well as the overall performance
of our technology, ensuring it runs smoothly and behaves intuitively.”
Thred has demonstrated integration into the Office365 suite, which allows Threds to be created from Outlook.
This means that for companies that use Thred, this is the first time social messaging can be brought under the Microsoft Outlook 365 security policies, thereby significantly reducing the risk to their businesses.
In September this year Thred launched its maiden Minimum Viable Product (MVP) version of the Thred app. The MVP stage app is an early trial of the software.
It is currently being used by invited users, with feedback sent in real-time back to developers, who are able to monitor how the app is being used and how well the software supporting the technology is performing.
“Humans can be unpredictable, especially when interfacing with technology. The commencement of our MVP stage app is a major step forward for the company, as we are able to see how our software performs outside of internal testing.
“It’s a major milestone for Thred as we are able to begin producing tangible results for shareholders, demonstrating that our app approaching commercialisation. We are pleased to say that we are on track to release our beta version in time for our second milestone,” Whitaker said.