Research Notes: Cardlytics $CDLX (Qualitative #2)

Qualitative notes from researching, investigating, and thinking through Cardlytics.

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These are the CDLX Qualitative Research Notes #2. Use the following link to access the:

• CDLX Qualitative Research Notes: #1, #2, #3

• CDLX Quantitative Research Notes: #1, #2, #3

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• List of the the most recent updates in the CDLX Research Notes

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Notes are split into Qualitative and Quantitative Research Notes, given I have hit the limit of content that will save in Substack (despite Substack saying there is no limit, which likely reflects the amount of notes stored here). I even hit the limit within each of those notes, which is why I’m splitting them again, with a second set of notes called Qualitative and Quantitative Research Notes #2.

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Research Notes: Cardlytics $CDLX (Qualitative #2)

Subject

• Cardlytics ($CDLX)

• Qualitative Research Notes #2

  • I once again hit the Substack limit in #1 given the size of the notes, so I started a new page to have more room

Last Updated

• Updated as of 3.23.2023

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  • List of the the most recent updates in the CDLX Research Notes

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Table of Contents for Notes #2

These are the notes on this page (for the remained of the notes, see Qualitative Research Notes #1 and #3).

1. Leadership / Management / Board

   1. CEO: Karim Temsamani¹

      1. Building Products / Businesses

         Restructuring for Profitability

         Scaling, Hiring, His Leadership Philosophy, and Execution

      2. Example of Past Success with Executing and Scaling (with Revenue and Timeline)

      3. Mistakes as a Leader

         Businesses Changing Course

         Not Compromising on the Quality Hires

         Very Large Ambitious Goals

         Transparency

      4. Systems and Tools for Advertisers and Publishers

         Data

      5. Overall First Thoughts on the Change in CEO

         Thoughts on the Timing of the Change

   2. Other Changes in Senior Leadership / Board²

      1. Resignation of Andy Christiansen, CFO

      2. Confirmation of Amit Jain News (3.8.2023)

      3. Appointment of Amit Gupta as Chief Operating Officer

      4. Resignations of Scott Grimes and Lynne Laube

      5. Potential Loss of Two Executives

2. Open Banking³

   1. “Doesn’t this weaken CDLX’s moat? Isn’t Open Banking bad for CDLX?”

   2. What is Open Banking and Why It’s Important to Cardlytics

   3. Nectar Connect

   4. Misc Notes and Thoughts

3. Advertisers⁴

   • Concentration of Advertisers

   • Advertisers Over Time

4. How CDLX Banks will Differentiate⁵

   1. Different User Experiences / UI

   2. Bank Self-Service

5. Most Frequently Asked Questions⁶

   1. How will CDLX banks differentiate amongst themselves?

   2. What about management execution risk?

   3. Isn’t the self-service not fully self-service?

   4. Is Cardlytics impacted by IDFA?

   5. Isn’t engagement low?

   6. How much time do people spend in their mobile apps anyways?

   7. Why can’t banks do this themselves?

   8. Should we be worried about insider selling?

   9. What is the culture like, given Glassdoor reviews?

   10. Is there a risk from concentration of advertisers?

6. Other Frequently Asked Questions (More General)⁷

   1. What does Cardlytics do?

   2. How does Cardlytics work?

   3. What type of purchase data does Cardlytics see?

   4. Does Cardlytics use personally identifiable information (PII) to target ads?

7. Best Twitter Accounts to Follow for Cardlytics⁸

   1. List and Links

8. Best Additional Resources Related to Cardlytics (Podcasts, Letters, Write-ups, and More)⁹

   1. List and Links

Update Log For Notes #2

• 3.22.2023, 3.23.2023

  • Leadership / Management / Board: Other Changes in Senior Leadership / Board: Resignation of Andy Christiansen, CFO

• 3.8.2023

  • Leadership / Management / Board: Other Changes in Senior Leadership / Board: Confirmation of Amit Jain News

• 1.23.2023

  • Leadership / Management / Board: Other Changes in Senior Leadership / Board: Appointment of Amit Gupta as Chief Operating Officer

• 11.16.2022

  • Leadership / Management / Board: Other Changes in Senior Leadership / Board: Resignations of Scott Grimes and Lynne Laube

• 9.1.2022

  • Leadership / Management / Board: Other Changes in Senior Leadership / Board

• 7.21.2022

  • Leadership / Management / Board: CEO Karim Temsamani

• 7.20.2022

  • Leadership / Management / Board: CEO Karim Temsamani

• 6.9.2022

  • Open Banking: “Doesn’t this weaken CDLX’s moat? Isn’t Open Banking bad for CDLX?”

• 4.7.2022

  • Open Banking

• 3.8.2022

  • How CDLX Banks with Differentiate: Bank Self-Service

• 3.2.2022

  • Open Banking

• 3.1.2022

  • How CDLX Banks with Differentiate: Bank Self-Service

• 2.26.2022

  • How CDLX Banks with Differentiate: Bank Self-Service

• 2.25.2022

  • How CDLX Banks with Differentiate: Bank Self-Service

• 2.9.2022:

  • How CDLX Banks with Differentiate

    • Bank Self-Service

    • Different User Experiences / UI

• 2.1.2022

  • Advertisers Over Time

• 9.3.2021

  • Open Banking

• 5.4.2021

  • Advertisers Over Time

• 5.3.2021

  • Advertisers Over Time

• 1.24.2021

  • Advertisers Over Time

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