New organizational structure and name-change reflects broader strategy to facilitate commercializing company’s IP beyond use in its flagship, consumer-live-events platform.
AUSTIN / DALLAS, TX – December 8, 2017 – PRLog — Effective immediately, PicPocket, Inc., a Delaware C-corporation with offices in Austin and Dallas, TX, has officially changed its name to “PicPocket Labs.”
Given the applicability of PicPocket’s IP to several Enterprise markets, the company has adopted an organizational structure that aims to give strategic-customer-partners more visibility into how decisions are made and dollars are spent within their respective verticals.
“The “PicPocket®” brand will continue to refer to the company’s consumer-live-events (“eventsharing™”) platform and consumer apps (available for both Android and iOS) and will be managed separately from other enterprise divisions” explains Wolfram Gauglitz, President and CEO. “As the company secures investment from third-parties, subsidiaries will be formed to address individual enterprise markets and deep-domain expertise will be brought on board to lead these efforts.”
“The name change reflects our focus on R&D and solving real-world problems with an IP portfolio that’s blossomed to thirty-plus patents/filings since our 2009 incorporation” says Gauglitz. “As PicPocket’s core geofencing IP and underlying platform are common to both Consumer and Enterprise applications, this structure offers both our investors and employees much needed transparency and focus.”
The parent company (“PicPocket Labs“) will be the IP rights-holder for the company’s IP portfolio and will enter into the necessary licensing agreements with each of its vertically focused, wholly-owned subsidiaries. Each subsidiary will operate its own board of directors with one representative each from PicPocket Labs and strategic-customer-partner, leaving one independent director to be agreed upon by both stakeholders.
Over the coming days, PicPocket Labs will rerfresh its logos (as shown) for both the parent company and its Consumer “PicPocket” division.
PicPocket Labs. is an early pioneer in geofencing and location-based, content/media IT solutions with offices in Dallas and Austin, TX. The company plans to support broad IP licensing strategies while it develops enterprise services in industries ranging from news, sports, media and entertainment to property and casualty insurance, home and building inspection, agriculture and first-responder networks.
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