# 2022/01/26 AdeptMind Board Meeting Minutes
11:10 Start

11:10
- all members approve minutes from board meeting 2
- Howard Bornstein becomes a new preferred director
- Venkat Srinivasan becomes a board observer

11:14 achievements in Q4
- for malls, we closed 700K of new deals
- Vjay: revenue model for malls?
- G: SAS model for property group basis, and get shopping center to do the local last mile delivery; may go towards revenue share for the one cart product;
- for retailers, we are developing a new core product - Dynamic Landing Pages: new product in the market, validated by few big retailers

11:34 mall results 2021
- Othamane: how is the impact of loading live inventory to the exprience
- G: it takes a couple of minutest to live fetch, but all other parts of the page are loaded. the animation
- Adam: the web traffic improvement after the deployment for malls?
- G: mainplace mall traffic zero to one; will get more data after the meeting;

11:44 Booked ARR Review 2020-2021
- difference on ARR: Ulta users growth is limited to customers to physical malls due to the COVID restriction
- Hugo: we'd better account the base rate, not the variable based on the performance
- Adam: the prices are quite different, what is the pricing strategy for malls?
- G: around $400 per big-retailer and $200 per small-retailer so it depends on the number of retailers in malls. sell mall digital infrasture to cover most malls to get network effect, and then push one cart to get better ROI.
- Adam: any network effects so far?
- G: LEGO is willing to bring us to more locations

11:59 Almost closed ARR for 2021
- Oxford/QuadReal expansion, Ivanhoe Cambridge new

12:04 Income Statement/Balance sheet
- Runway: 5 quarter of runway

12:12 Dynamic Landing Pages Ulta results
G reports on some results
- Howard: AdeptMind can pick 5k-10k queries and do SEM/SEO, and what's the significance?
- Michelle: this is a testament that adeptmind is a better search engine provider compared to the legacy system; adeptmind will allow us to buy more specific search terms; we can potentially increase the number of pages/content and do SEO. Michelle: merchants still manage the results, and we still need to make decision on it. The search result incorporating review data is a more unbiased list of results.

12:35 DLP
- few big retailers have dynamic landing pages 1.0 built internally (10-30% pages, 15-20% sales)
- big retailers (Amazon, Walmart, etc.) can get more general pages ranked due to high authority of the store web site, but not for medium/small retailers, so they need more specific long-tail dynamic landing pages
- it can be fast to get a large volume of pages ranked in a couple of months (Nordstrom case study)
- timeline: 4-5 retailer test beds
- DLP2.0: much more pages
- SEO as a service

13:02 Revenue projections
- Mall: ~2M new revenue
- DLP: ~2M new revenue
- Othmane: we can push tags associated with products to other channel like pinterest/instagram.