The social media industry has been in the spotlight among investors over the past few months due to certain major developments, and many are on the lookout for companies to track beyond the usual suspects.
One company that could well be worth looking into at this point could be Hop-On Inc. (OTC:HPNN), which is well-known for its subsidiary Digitalage, a path-breaking social media platform. The platform is involved in providing content protection, a better user experience, and monetization options. On Thursday, the company announced that it had appointed a new fractional chief financial officer in the form of Leighton Smith, CGMA, ACMA.
The founder and chief executive officer of Digitalage, Peter Michaels, spoke about the development as well. He stated that everyone at the company was delighted at the prospect of Smith joining the management team. He went on to state that Smith possessed considerable knowledge in both strategic planning and financial management, both of which would be key to challenging the current status quo in the social media space.
In the news release, Digitalage noted that Smith was a highly experienced finance executive, having worked in that capacity for more than a quarter of a century. He drove growth and profits at both Fortune 500 companies and start-ups during his stellar career. In his capacity as the CFO of Digitalage, he would oversee the financial strategy and operations and provide support for capital-related initiatives in light of the company’s entry into a new phase of fast growth.
Additionally, it is important to note that Smith’s experience as an executive is versatile, having worked in fintech, health tech, SaaS, and e-commerce. He is best known for bringing about transformation in businesses and optimizing performance.
As a financial executive, he also boasts a track record of having raised more than $500 million in capital and brought about major improvements in operations. Smith stated he was excited about the opportunity to collaborate with the team at Digitalage. He added that it was a novel opportunity to work on the growth of a platform that could revolutionize the social media space.
On August 22, the company announced how it was going to disrupt the social media space with its platform. Peter Michaels noted at the time that the company’s team had been working untiringly to create a platform that would place the benefits of people over profits and would work on the development of better online communities. The company revealed that some of the major features of the platform were strong intellectual property protection powered by machine learning, secure personal storage of data, and regional filters that could be configured to balance free speech filters as per regions.
The platform had been designed in such a way as to promote free speech, guard against echo chambers, and provide incentives to those who make high-quality contributions. Additionally, the company also revealed that it would provide fresh interfaces that would be suitable for augmented reality.