Moderators also have their own private chat already created for them. As we explained earlier, the amount of initial investment with on-premise and cloud-based systems varies significantly and you’ll have to decide if larger upfront costs of buying equipment are more acceptable to you compared to the monthly fee model. But altogether the actual results, the continuing trends in the second quarter, the core business all suggest and support a guidance increase and we think the amount that we’ve put out is the right balance. More than 18,000 businesses, including Citibank, HSBC, EE, IBM, L’Oréal, PNC, and The Home Depot, rely on the unparalleled intelligence, security, and scalability of LiveEngage to reduce costs, increase lifetime value, and create meaningful connections with consumers. Our 18,000 customers, including leading brands like HSBC, Orange, and GM Financial, use our conversational solutions to orchestrate humans and AI at scale and create a convenient, deeply personal relationship – a conversational relationship – with their millions of consumers. On October 25, 2011 the Court granted the parties’ joint motion to transfer the cases from Illinois to the Eastern District of Wisconsin, and all pending motions were withdrawn, including Lodsys’s pending motion to dismiss.
Now before taking questions, I want to touch on several key themes that were key to our success in the first quarter and that we expect to continue throughout 2021. The depth and breadth of our conversational cloud and the ease with which developers can adapt the platforms, products and services to new use cases have enabled us to rapidly diversify and grow revenue streams. NewsMedia Business Summit with a motivational presentation that will offer some of the back-to-basic approaches he used at E&P to achieve its success. Accordance is among the first Bible software programs to offer an electronic edition of this wildly popular resource. The Accordance edition of the Sacred Bridge is one of a collection of thirteen resources from Carta, Israel’s leading publisher of maps, atlases, and books on Biblical history and geography. One of the things I routinely tell people is that if it’s in the news, don’t worry about it. Okay thanks. And then you mentioned social media management capabilities for one of your key customers. You know it’s an opportunity with some very large brands signed up to move their social media current implementations onto our platform. In addition, we’ve optimized our gain share offering and go-to-market motion, narrowing in on a repeatable model that resonates with brands and that we execute with machine like precision.
So you mentioned the gain share program is going strong. I think everyone faces this in their mid-20s, late 20s. There’s a break that you’re going to make with your family and what your family’s expectations are. And we’ve got a good set of features we’re going to continue to bring. They have a standard strategy that admits to all of the primary live chat features and a professional plan created to partner with your chat professionals. Conversational AI is solving fundamental business problems that have a clear and recurring return on investment for our customers in terms of both cost savings and increasingly incremental revenue. But as they say quality comes with a cost. Yes I would say we’re obviously above the top end of our guidance by about $4 million. And then the next step is looking at voice-you know digitization of voice and that’s kind of like-the last channel shall we say that we’re bringing in to digitize all those communication channels so that’s where we are with it.
Conversational Commerce, AI assisted telehealth, innovations in customer care like social media management are all growing sources of revenue that reinforce our leadership position in the market for conversational AI. Considering all of those exciting trends coupled with billable platform usage continuing to accelerate beyond the fourth quarter seasonal peak it’s clear that we’re at the center of a rapidly growing market for conversational AI which is beginning to look a lot like our long-term vision. As you may recall the fourth quarter is typically where we see the most renewals occurring, but in the first quarter we’re on par with what it looked like in similar period last year. At the end of the fourth quarter, we converted about 15% of total ELAs to CPI structures. And at the end of the first quarter we grew that fraction to about 40%. So by the end of 2021, we’re expecting approximately 70% to be converted to CPI structures.