Nixplay

Nixplay sells digital frames that enable families to share, store, and view their photos, videos, and other digital content on the frame with the help of an easy-to-use app.

The company produces smart, Wi-Fi-enabled digital photo frames supported by the “Nixplay Platform," a private platform (app) enabling families to share, store, and view their photos, videos, and other digital content. The Nixplay Platform allows users to create a photo-sharing network that is private, secure, and GDPR and CCPA-compliant. Data is both encrypted and stored in the United States. The company has three types of smart frames. The smart frame costs $129.99 to $239.99. The touch frame costs $149.99 to $219.99. The Ultra frame costs $299.99 per frame. Through a partnership with FujiFilm, the Nixplay Platform offers a “Print Shop” that allows users to print photos from its website. It also provides printing services, which can cost from $0.29 for standard prints to $40 to $80 for printing on larger areas. It also has membership options priced at $49.99 annually (equal to $4.17 per month) or $14.97 quarterly (equal to $4.99 per month). The company sells its digital photo frames worldwide through either online marketplace and retail channels (Amazon (Seller Central), Target, and Walmart) or D2C channels. The company's key market is the US, comprising 82% of its revenues in 2021. 51% of its sales generated in 2021 were from sales to Amazon (Vendor) and 9% were from Best Buy. The gifting market is expected to grow to $312B by 2025 from $258B in 2022, according to Coresight Research. Nixplay products compete in the medium to high-priced sector of the consumer electronics market. The two most direct competitors are Aura and Skylight, which each offer digital photo frames that can display digital content. It also competes indirectly with larger, well-known companies in the tech industry that offer similar products and services, such as Amazon and Google (via their “Echo” and “Nest” devices, respectively, which can also display digital content), and Shutterfly and Moonpig (each of which facilitate the sharing and gifting of personalized photos).

Nixplay is one of the few companies in the world using AI in the digital display space and our new subscription model has reached over 34,000 paying subscribers, achieving $1.8M ARR in 2022 .In the first half of 2022, Nixplay increased its user base on the Nixplay Platform by approximately 270,000 users, 11% increase YoY and Nixplay Plus subscriber base by approximately 3,260 users, 13% increase YoY. This is a positive sign that the Nixplay Platform is continuing to grow. The products have 4.5+ star ratings on Amazon, Apple Store,Google Play Store, and its own website and has 33k+ reviews. The company has a revenue of $9M for H1 2022 against $19.72M in H1 2021. The gross margin was 31% and the net loss was $4.5M for H1 2021.

The company plans to use the funds for marketing, user acquisition, product development, general and administrative expenses, and platform fees.

The company has a good team – professionals experienced in scaling and management of the business.

Mark Palfreeman, CEO, Director & Founder
Mark leads Sales, e-commerce, Marketing, Production, Treasury, and Industrial Design. Mark also holds a board seat on Nixplay Inc. and Nixplay Cayman. Prior to this role, he was CEO of the Creedon Technologies Group founded in 2006, where he led the full development, production, and sales of Nix frames. Mark’s early career was in media where he worked for film studios primarily in the UK. He works full-time at Nixplay. 

Joel Durbridge, COO
Joel leads Technology, Product, Corporate Development, and Business Operations including Human Resources and Legal. Prior to joining Nixplay, Joel was the Head of Strategy for Financial Markets Operations at Standard Chartered Bank (December 2019 – January 2021) and completed a number of roles at HSBC (April 2017 – December 2019) in Corporate Innovation, culminating in creating spin-out fintech for the bank where he served as Chief of Staff, leading Delivery across the business. Joel’s early career was in the British Military where he served close to 10 years as an Officer in the Royal Marine Commandos and the Special Forces.

Benoit Le Berre, CFO
Benoit first joined Nixplay in 2015 as the Financial Controller for all of Nixplay. In 2017, he took on the role of CFO for Nixplay. Prior to joining Nixplay, Benoit was a Financial Auditor at Mazars, where he led audit assignments for large, listed corporations including large consumer brands. From this experience, Benoit began to specialize in serving as the head of finance for growing businesses. His main focus has been to structure financial reporting and secure funding. Just prior to joining Nixplay, he worked for a manufacturing group with operations in Asia. He received a Master’s degree in Audit and Financial Advisory from Université Paris Dauphine in 2010.

Philippe Tartavull, Director (Chairman)
Philippe has held the position of Director and Chairman with Nixplay since 2017. He has more than 35 years of experience leading public and private global technology companies in the infrastructure, industrials, payments, and telecommunications, convergence of technologies, hardware, and software sectors. He is the Co-Founder and Managing Partner of TKB Capital (May 2021 – present). He is on the board of trustees of American University in Paris and holds an MBA from the Institut d’Administration des Enterprises, Sorbonne University, M.S. in Engineering from Ecole Nationale Superieure des Pétroles et des Moteurs, and B.S. in Engineering from SUPMECA (previously called Centre d’Etudes Supérieures des Techniques Industrielles).