WHY OUR CUSTOMERS ARE “MEMBERS”?
Customers of DFM Data Corp. are companies performing digital freight matching. We believe our business model and position as a neutral utility should accommodate DFM’s being able to participate directly in the planning and operation of the utility.
Because DFM Data Corp is the only company authorized to serve the DFMs in this capacity, DFMs should be able to influence how the company operates. Our member structure is governance-driven. Membership via governance is the means by which competitors can come together to cooperate and collaborate over common interest.
Participating member companies can offer up ideas. Their ideas are developed by working groups made up of Member DFMs. The working groups make recommendations to the Steering Committee who have 6 out of 7 votes. If the Steering Committee votes to implement a recommended idea, it informs DFM Data Corp. operations, and it is implemented. So, as you can see, customers of DFM Data Corp. have a very different type of relationship with our company than you would typically find–and we are proud of it.
TWO TYPES OF CONTRIBUTING MEMBERS – “NON-EQUITY” & “EQUITY”
Every DFM is qualified to be a non-equity member. Some DFMs are qualified to convert their membership to Equity member status. Equity members are those that have purchased shares in DFM Data Corp. Per SEC regulations, currently, only companies that meet “Accredited Investor” criteria may purchase shares in DFM Data Corp. Ideally, we would like all DFMs to have the option to be Equity Members. We believe this is a fairly unique situation, so we are pursuing clarification and a possible exception from the SEC. Also as required by law, all DFMs will have been informed of the offering via registered mail during the month of October 2020. If you would like a copy of the notification, please contact us and it will be provided.
We believe it makes sense for DFMs to own its utility. We also believe it makes sense for DFM Data Corp. to be answerable primarily to its members. Consequently, we have not accepted funding from Private Equity or Venture Capital sources. We would much prefer that our members be the source. DFM Data Corp. has allocated at least 10% of shares for DFMs. Currently, 40 Equity Memberships are available. After the first 40 are filled, we will issue another round of 100. After that, we will continue to make Equity Memberships available.