- Infobird Co. Ltd. premier provider of customized AI-powered customer engagement solutions to mega financial institutions
- Infobird developed SaaS suite of proprietary and patented product offerings
- IFBD now transforming business model to focus on standardized module SaaS
- Infobird positioned to profit from huge SaaS sector boom in China
On April 20, Infobird Co., Ltd., a leading AI SaaS customer engagement service provider in China, was officially listed on the Nasdaq in the United States under the symbol: IFBD. On the first day of trading, Infobird’s stock triggered a fusing mechanism, and the stock price peaked at $11.25. IFBD achieved a countertrend rise while the S&P 500 was down 0.68% that day. This countertrend likely indicated market recognition of not just what Infobird has already achieved but also an indication of the opportunity ahead.
Mr. Yimin Wu, the CEO and Chairman of the Broad of Infobird, noted that in the past two decades, Infobird has amassed tremendous experience, technology advances and superior service capabilities while providing customized SaaS products to some of the largest and most n demanding financial institutions in China. The past two decades constructed a set of valuable assets and a firm foundation as Infobird begins rapid expansion. The company is transitioning to standardized module SaaS to expand its customer base and quickly capture more market share. Standardized module SaaS has the characteristics of fast scale up and low cost compared to customized SaaS. The strategic transformation of Infobird from customized SaaS to standardized module SaaS not only replicates its past success serving large financial institutions to large customers across industries, but also promotes its SaaS to many more small and medium-sized enterprises in China that cannot afford expensive customized SaaS, enabling them to benefit from the high-quality standard AI-powered SaaS customer engagement solutions.
Mr. Wu further stated that Infobird has already diversified is client base and is no longer reliant on its previous single large customer, China Guangfa Bank. According to the prospectus, the sales and marketing team has been developing new customers from multiple large- to medium-sized companies in finance, healthcare, and retail industries. Adding wood to the fire in the transition to standardized module SaaS, Infobird intends to further enhance its sales and marketing efforts with some of the IPO proceeds. In addition, other top banks have invited Infobird to conduct PoC tests to provide standard cloud-based services, which is the first step before entering into a service agreement. In 2021 and beyond, Infobird expects the revenues will not be largely driven from a single major customer, and it’s also expected that standard cloud-based services will constitute the major portion of the fiscal year 2021 revenue as compared to customized cloud-based services. Infobird’s strategic transformation broadens and widens the customer base and could easily lead to dramatic increase in revenue.
Infobird is convinced that the wave of digital transformation sweeping across China and the rapid recovery of the Chinese economy post-COVID, set the stage for Infobird to excel after the IPO and enter a new phase of high-speed growth.
For more information, visit the company’s website at www.Infobird.com/en/index.html
NOTE TO INVESTORS: The latest news and updates relating to IFBD are available in the company’s newsroom at https://ibn.fm/IFBD
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