Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) Inc, a real-time data analytics provider through artificial intelligence, has announced the launch of its new digital and content marketing agency, along with a new platform-as-a-service (PaaS) revenue model.
The Vancouver-based company said its PaaS model provides customers with a software-as-a-service (SaaS) model with managed services for Fobi’s various Pass Pro and Wallet pass solutions as well as coupon marketing.
Fobi's managed services will boost the company's revenue growth and solidify its position as an industry leader in wallet pass technology, consumer packaged goods coupons, and real-time data attribution, it added.
Investors responded positively, sending Fobi shares up 4.4% to C$0.48 on the Canadian Venture Exchange and 4.5% to $0.37 on the OTC Markets.
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In a statement, Fobi VP of Marketing Ian Cameron said: “This launch is well-timed given the current labour shortages and technology proliferation which can make it difficult to adopt and manage new technologies. Businesses are eager and ready to take advantage of the latest technologies, but they often lack the resources and the manpower.”
“That was the premise for the creation of Fobi’s Digital Managed Services team which is dedicated to providing clients with the latest tools, strategies, and execution needed to be successful online and offline. Thanks to the demand for these managed services, the company has already acquired clients across every managed service category," he added.
Cameron noted that Fobi’s managed services have enabled clients to “digitally transform their business and gain access to measurable insights with significantly less hassle and staffing resources.”
In addition to Wallet Pass and Coupon campaigns, the full-service digital media and content marketing agency will offer clients a wide range of custom services, including copywriting, graphic design, email marketing, and content strategy, noted Fobi. The launch is particularly well timed to go hand-in-hand with the launch of the new digital 8112 standards for coupon campaigns this summer.
“The launch of our Fobi Digital Agency and PaaS revenue/business model, marks an important milestone for the company. Due to the numerous successful strategic acquisitions we made over the last 18 months, we drastically ramped up the size and capacity of our engineering team,” said Fobi founder and CEO Rob Anson.
“As a result of this significant investment and ramp up, we have been able to successfully complete all of the needed integration work which has put us in a position of strength as we are now able to deliver a completely unified and interoperable tech stack,” he added.
Anson noted that Fobi has been working on the transition and focus of the company over the last several months and has been able “to go long and narrow while drastically reducing our operational burn rate.”
“There has been a shift in our team’s focus to direct sales and revenue growth through our new digital agency and PaaS business and revenue model,” added Anson.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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