GCIGood Life Plus appoints Richard Johnston as CFO to support growth strategy
() , a UK-based subscription service offering daily prize draws and discounts on popular goods and services, announced the appointment of Richard Johnston as its Chief Financial Officer, effective November 1, 2024. Johnston has significant experience as CFO across high-growth SaaS businesses, including Outplay Entertainment and Overtier.
Good Life Plus also announced the appointment of Fraser Doherty MBE to its Advisory Board. Doherty is the co-founder and CEO of Beer52, known for his expertise in direct-to-consumer marketing. At Beer52, he helped grow the business into the UK's largest craft beer club, now serving over 200,000 subscribers. In 2014, he was honoured with an MBE for services to business.
said both appointees have been granted share options to align interests with the company's success. Johnston was granted options over 2.0m ordinary shares that will vest 12 months following his appointment and be exercisable at 2.5p. Doherty was granted options over 1.12m ordinary shares under the same terms.
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Good Life Plus appoints a new CFO and new member to Advisory Board as it continues to build its dream team of industry veterans to help make it a leader in the luxury prize draw and rewards sector. In addition to Johnston and Doherty, notable names so far include Mark Blandford of SportingBet, Victor Chandler of BetVictor, David Ivy of dogDigital, Ian McCaig of Fiit, and John Gordon of Incentive Games.
Johnston and Doherty bring highly relevant experience to support 's goal of rapid scaling within the UK market, both in direct-to-consumer and its partnership programme. recently reported excellent H1 results, showing record growth in sales and subscribers, up 59% and 73% respectively since year-end. As is laser-focused on continued aggressive expansion, the appointment of Johnston as CFO is logical given his vast experience in high-growth SaaS companies.
Following the stellar performance in H1 ended July 31, entered H2 with strong momentum, supported by two successful capital raises that added £4m to its balance sheet in 2024, and a landmark partnership with one of the UK's major mobile network operators.
The bolstered balance sheet and new CFO and Advisory Board appointments will support continued investment in product development, headcount growth, and D2C marketing to scale the business further. currently has over 40,000 active subscribers, over 1.1 million email subscribers, and 400,000 social media followers after significant investment in digital engagement and market visibility.
The global lottery and rewards space sector is currently valued at £261 billion, with continued steady growth projected over the next 7 years. is well-positioned for success within the rapidly expanding market, with its disruptive freemium model enabling low-cost subscriber acquisition while driving recurring revenue predictability, similar to SAAS/B2C models. 's record revenue performance in H1 and strong commitment to continued investment in customer acquisition, underpin significant further upside.
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