Business
Infobird Issues Preliminary Revenue Guidance for Full Year 2022 and Provides Update on Strategic Priorities
Full year preliminary revenue guidance of approximately U.S. $16 million BEIJING, March 8, 2022 /PRNewswire/ -- Infobird Co., Ltd (Nasdaq: IFBD) ("Infobird"
About this update from Infobird Co., Ltd
[{"type":"text","content":"Full year preliminary revenue guidance of approximately U.S. $16 million\n 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.\nHighlights\nFull 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, 2022Customer Focus and Strategic Priorities\nFounded 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. \nToday, 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. \nSince 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.\nThe Company has built an experienced telemarketing and channel sales tea...