Full year preliminary revenue guidance of
approximately U.S. $16
million
BEIJING, March 8, 2022 /PRNewswire/ -- Infobird Co., Ltd
(Nasdaq: IFBD) ("Infobird" or the "Company"), a leading
provider of AI-powered customer engagement solutions in
China, today announced its
preliminary revenue guidance for the year ended December 31, 2022 and provided an update on its
strategic priorities, which will be further discussed on a company
hosted investor call scheduled for Tuesday,
March 15, 2022 at 9:00 am
EST.
Highlights
- Full year 2022 preliminary revenue is expected to be
approximately U.S. $16 million
- Initiated the transition to provide standard SaaS services to a
broader base of small and mid-size customers in addition to larger
customers
- Reorganizing corporate, sales and marketing to better serve
growing, diverse customer base
- Recent new customer wins in NEV, retail and healthcare
verticals affirm strategic sales diversification strategy
- Entered into an equity transfer agreement to acquire a 51%
equity interest in Shanghai Qishuo Network Technology Co., Ltd.
("Qishuo"), a provider of consumer product and retail store
digitalization solutions in the retail footwear industry and
leading clothing brands.
- Infobird expects to file its 20-F for the year ended
December 31, 2021 prior to
April 30, 2022
Customer Focus and Strategic Priorities
Founded in 2001, Infobird began as one of the first cloud call
center service providers in China. In the past 20
years, the Company has served leading Chinese companies in the
Financial Services, Retail and Healthcare verticals.
Today, Infobird's customer engagement SaaS solutions cover
the full client journey from customer acquisition, intelligent
omnichannel contact center, client lifetime value management, and
sales force empowerment.
Since 2021, and supported by their April, 2021 $25.25 million IPO on the NASDAQ, the Company has
initiated the transition to provide standard SaaS services to
a broader base of small and mid-size businesses ("SMB's) as
well as developing new strategic large enterprise customers in new
and existing industry verticals. As part of this transition,
the Company is reorganizing the corporate, sales and marketing
structure to better meet the needs of a larger and more diverse
customer base.
The Company has built an experienced telemarketing and channel
sales teams in various cities in China to quickly scale up its customer base as
well as contract sizes. The Company's easy-to-deploy standard SaaS
solutions can efficiently meet the needs of the SMBs due to ease of
implementation and lower cost.
The Company's large strategic customer sales efforts are focused
on the finance, retail, healthcare and NEV industries. The Company
continues to expand the industry sales teams and has successfully
engaged with several leading and fast-growing clients
including:
- SaSa, a leading chain store company based in Hong Kong that sells various brands for
cosmetics, skincare, and fragrance. Infobird provides SaSa with
cloud-based call center services so that salespersons from
different stores can easily contact their end customers; and
- Zulijian, a leading manufacturer and retailer of footwear in
China with 245 patents and over
2000 specialty stores across provinces in China. Infobird provides Zulijian with a
flexible cloud-based inbound customer service center to enable
efficient and timely management of incoming purchase orders.
- One globally well-known brand in the retail and consumer
product industry. The Company provides it with intelligent quality
inspection services to improve the quality of its customer
service.
- HYCAN, a fast-growing and high-end new energy vehicle company
co-invested by Pearl River Investment, GAC Group, and NIO, utilizes
Infobird's digital marketing and customer lifecycle management
software to obtain new potential buyers and retain existing
customers.
Infobird expects these new customer acquisitions will benefit
the Company over the short and long run and significantly increase
the Company's brand awareness in multiple fast-growing industry
verticals.
The company's recent acquisition of a majority interest in
Qishuo marks another milestone for the Company to further the
business-value driven solution in the consumer product and retail
industry. Qishuo is a fast-growing SaaS provider of big data
analysis aimed at improving physical store operation management.
Qishuo currently specializes in clothing and footwear retail stores
and has engaged with several leading clothing brands in
China. The acquisition is expected
to further broaden Infobird's capability for both online and
offline customer engagement solutions, as well as improve offline
store operations for the consumer product and retail
industry. Infobird believes this solution has significant
growth potential going forward.
CEO Comment
Yimin Wu, chief executive officer
and chairman of Infobird commented: "We have found enormous
opportunities in the customer engagement market in China and the interest in our SaaS service is
accelerating across many verticals. In conjunction with our
valued customers, we believe we have developed a clear strategic
vision and solution that empowers them to transform their customer
engagement strategy. Our goal is to provide real business
value-driven solutions deploying industry-specific upgradeable
modules to our clients. 2021 was an important year to build our
foundation both in terms of potential client base and the
organization for accelerated growth. With these valuable
foundations, we are excited with 2022 and the years ahead."
Infobird expects to file their 20-F prior to April 30th, 2022.
Details of Infobird's Investor Conference
Infobird's investor conference will be held Tuesday, March 15 at 9:00 am EST. The
conference will be webcast live and shareholders can register in
advance at
https://www.webcaster4.com/Webcast/Page/2850/44804.
Shareholders are asked to submit questions in advance of the
scheduled call by emailing Investor Relations for Infobird:
kevin@tradigitalir.com
About Infobird Software Co. Ltd.
Infobird, headquartered in Beijing,
China, is a software-as-a-service provider of innovative
AI-powered or enabled customer engagement solutions.
For more information about the company, visit www.Infobird.com.
Forward-Looking Statements
This press release contains, and our officers and
representatives may from time to time make, certain
"forward-looking statements," within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements can be identified by words such
as: "will," future," "potential," "going forward," "expects,"
"believes," and "intends," and similar references to future
periods. Examples of forward-looking statements include, among
others, statements we make regarding:
- Expected operating results;
- Infobird developments, such as the acquisition of Qishou and
Infobird's proposed initial public offering; and
- Strategy for customer acquisition, customer satisfaction,
customer retention, growth, operational capability, organizational
shape, product development, market position, financial results, and
service provision.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, forward-looking
statements are based only on our current beliefs, expectations, and
assumptions regarding the future of our business, future plans and
strategies, projections, anticipated events and trends, the
economy, and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict and many of which are outside of our control.
Our actual results and financial condition may differ materially
from those indicated in the forward-looking statements. Therefore,
you should not rely on any of these forward-looking statements.
No assurance can be given that the proposed initial public
offering discussed above will be completed on the terms described.
Completion of the proposed initial public offering and the terms
thereof are subject to numerous factors, many of which are beyond
the control of Infobird, including, without limitation, the failure
of customary closing conditions and the risk factors and other
matters set forth in the prospectus included in the registration
statement in the Company's SEC filings. Infobird undertakes no
obligation to publicly update or revise any forward-looking written
or oral statements, whether as a result of new information, future
developments, or otherwise, except as may be required by law.
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SOURCE Infobird Co., Ltd