Company Overview Summary

Company Name

Moatable, Inc.

Corporate Structure

• Incorporation: Cayman Islands
• Public Trading:
  • Previously listed on NYSE under symbols "RENN" and "MTBL"
  • Delisted from NYSE on April 19, 2024
  • Currently quoted on OTC Market under symbol MTBLY

Business Focus

• Operates two primary SaaS (Software-as-a-Service) businesses:
  1. Lofty (formerly Chime Technologies)
  2. Trucker Path

Main Business Activities

Lofty

• Launched: August 2016

• Industry: Real estate

• Services:

  • All-in-one CRM (Customer Relationship Management) platform
  • Sales acceleration and client lifecycle management
  • IDX websites, lead generation, marketing automation
  • Advanced AI for lead capture and customer engagement
  • Tools for real estate professionals to launch marketing campaigns, track leads, build relationships, manage websites, communicate with teams, and monitor performance metrics
  • Import and categorize leads from third-party platforms
  • Automate responses to inquiries with AI
  • Publish comparative market analyses and property listings
  • Advertising services including third-party ad placements and direct mail

• Acquisitions:

  • August 2022: LoftyWorks Ltd (UK)
  • August 2024: The Letting Partnership, LTD (UK) (client accounting for lettings industry)

• Market: Primarily U.S. real estate agents, brokers, and property managers

Trucker Path

• Acquired: December 2017
• Industry: Trucking and freight logistics
• Services:
  • Trip planning, navigation, and route optimization for truck drivers
  • Real-time point-of-interest data: truck stops, parking, weigh stations, restaurants, rest areas
  • Community-based listings with driver reviews and ratings (over 500,000 listed)
  • Freight exchange platform (TruckLoads app) connecting shippers, brokers, and drivers
  • Fleet management: Trucker Path COMMAND (enterprise transportation management system)
  • Marketplace for trucker essentials (fuel discounts, insurance, etc.)
  • Advertising on the platform
• Users & Customers:
  • Approx. 900,000 active users
  • Around 126,000 paid subscriptions
• Employees:
  • Total: 146 (as of December 31, 2024)
  • Roles: Mobile developers, engineers, product managers, QA

Business Operations & Revenue

• Revenue (2024): $63.5 million (up from $52.1 million in 2023)
• Revenue Breakdown:
  • Lofty (Real estate SaaS): $35.1 million
  • Trucker Path (Trucking SaaS): $28.1 million
• Revenue Growth: 21.9% increase from 2023
• Net Loss:
  • 2023: $11.0 million
  • 2024: $2.5 million
• Key Revenue Sources:
  • SaaS subscription services
  • Advertising services (lead generation, online and print)
  • Other SaaS services (fuel programs, property management)
• Gross Margin:
  • 78.5% in 2023
  • 76.1% in 2024

Employees

• Total Employees: 610 (all full-time)
• Locations:
  • U.S.: 94 employees
  • China: 256 employees
  • Philippines: 125 employees
  • Other countries: 135 employees
• Focus: R&D, sales & marketing, management & admin

Financial Highlights

• Total Revenue (2024): $63.5 million
• Loss from operations: $2.96 million in 2024 (down from $11.8 million in 2023)
• Operating expenses: Reduced from $52.7 million in 2023 to $51.3 million in 2024
• Net cash from operating activities (2024): $1.3 million (positive, reversal from loss in 2023)
• Cash & equivalents (2024): $26.6 million
• Strategic Focus: Growing existing SaaS platforms, expanding customer base, and targeted acquisitions within real estate and trucking industries.

Key Strategic Points

• Focused on SaaS to help small businesses and professionals in real estate and trucking sectors
• Intends to grow customer base via inbound marketing, partnerships, and acquisitions
• Continues to develop product features, AI integration, and expand in U.S. and UK markets
• Operating primarily in highly competitive environments with a focus on innovation, brand promotion, and customer support

Note: All data points are as of December 31, 2024, with some updates available as of March 19, 2025.