Digital Asset DirectQYOU Media Reports Record Q2 FY 2023 Results
QYOU Media
Contact Details Doug Barker +1 437-992-4814 shareholder@qyoutv.com Company Website https://www.valuethemarkets.com
September 01, 2023 06:00 AM Eastern Daylight Time
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Digital Asset Direct
News ReleaseThis K-Culture Fandom App Now Trading On Nasdaq Offers Investors Exposure To Multibillion-Dollar Korean Wave
Benzinga
By Rachael Green, Benzinga A Korean wave has been sweeping the globe for over a decade as first K-pop, then K-drama and now all kinds of Korean entertainment and media continue to draw an increasingly international audience. Today, a single K-pop group, BTS, is responsible for generating over $4.6 billion of South Korea’s GDP. When you add in the rest of the K-pop groups along with the increasingly popular K-dramas, movies and other media, South Korea’s entertainment industry has become a multibillion-dollar global phenomenon. That’s caught the attention of investors looking for ways to gain exposure to this growing global market. For Hanryu Holdings (NASDAQ: HRYU), that’s helped bring in $53 million in capital so far, including nearly $9 million raised during its initial public offering earlier this month. The media-tech company is the creator of FANTOO, an all-in-one social media platform specifically created to give K-culture’s estimated 156 million global fans a place to connect with each other – and buy merchandise, content, concert tickets and more. Here’s how Hanryu is leveraging the economic power of fandom to generate shareholder value. One Fandom App, Multiple Revenue Streams Hanryu reports that since it first launched FANTOO two years ago, the fandom app has grown to 26 million registered users, including 1.5 million active monthly users. Right now, its biggest source of revenue is advertising. The app is an attractive opportunity for brands who want access to this highly engaged audience, and investors interested in the Asian market may want to look deeper. Advertising is far from the app’s only revenue stream. The content creation side that allows users to create and monetize fan art, comics, fan fiction and other content also adds revenue from transaction fees on sales – as does the fan shop where users can buy and sell merchandise on an eBay-style platform. FANTOO also generates money on ticket sales as users unable to attend a concert in-person can pay for a virtual ticket to watch a live stream of the show with fellow fans in the app. Unlike other fandom apps that cater only to a specific fandom, FANTOO is designed to be all-encompassing, creating a space for fans of all forms of K-culture to create clubs, talk to other fans and share their passion. Meanwhile, the app’s reward system lets users earn points for creating content, liking posts, commenting and engaging in other user activity. The unique system helps maintain a consistently high level of engagement from its users, making it an even more attractive advertising opportunity and creating more opportunities to generate cash flow across the app’s other revenue streams. As the app continues to gain users, Hanryu already has big plans to increase its revenue potential, including widening its net to include even more fandoms and launching a metaverse version of FANTOO where users can meet and explore the platform in virtual reality. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com
August 31, 2023 09:15 AM Eastern Daylight Time
News ReleaseRetail Commercial Real Estate Leasing Sets 8-Year Record, See How This Company Is Cashing In On Neighborhood Centers
Benzinga
By Faith Ashmore, Benzinga The commercial real estate industry is grappling with rising inflation and interest rates, as well as other socioeconomic changes that are shaping its trajectory. These challenges have emerged due to a combination of internal and external factors, impacting various segments within the industry. One significant macro problem is the evolving work environment, influenced by the global pandemic and the shift towards remote work. With more employees working from home or adopting hybrid work models, there is a growing concern about the future demand for office space. The industry is grappling with the transformation of retail spaces into experiential and mixed-use developments to remain relevant in the face of e-commerce competition. However, there will always be a need for certain commercial real estate – especially necessity-based real estate. Necessity-based real estate refers to properties that are essential for everyday living and are often in demand regardless of market conditions. This includes sectors such as healthcare facilities, grocery stores, multifamily housing and more. Investing in necessity-based real estate can be a great tool for investors to build resilience and safeguard their investments against market swings. Necessity-based properties have historically shown consistent demand even during economic downturns, making this type of investment suitable for even the current market. The inherent stability of demand in necessity-based real estate contributes to the reduction of risks associated with market fluctuations. By incorporating these essential and reliable property types into their investment strategy, investors can effectively diversify their portfolios. This strategic approach allows investors to mitigate risk, protect their capital and establish long-term financial resilience. Some necessity-based properties are seeing extreme success in today’s market due to unique socio-economic conditions. According to a July 27 article for paid subscribers in The Wall Street Journal titled "The Hottest Real-Estate Play Is in Your Neighborhood," there is a significant opportunity in the commercial real estate sector – particularly in strip malls. Leased occupancy reached an 8-year high of 95.3% in the first quarter of this year, while physical occupancy remained close to its pre-pandemic level at 92.4%. This is because landlords are signing leases faster than retailers are able to move in. Flexible working is contributing to this growth because consumers are spending more time at home and less time in city centers where their offices are located. Additionally, the migration of approximately 2 million people from large cities to suburbs and exurbs has further boosted the demand for strip centers. With office occupancy still at only half of pre-pandemic levels, workday lunches have moved from downtown city centers to restaurants in strip malls closer to people's homes. Additionally, personal care services such as massage, chiropractic, medical laboratory and dental services, which are commonly found in strip retail centers, have experienced strong demand in recent years. First National Realty Partners (FNRP), a renowned necessity-based real estate firm, has established itself as the leader and says it is the inventor of the specific industry. With an impressive track record of success, FNRP has established itself as the go-to investment firm for accredited investors seeking to diversify and navigate the necessity-based market. With over $2 billion in assets under management, FNRP has demonstrated its ability to deliver results for investors. The company’s portfolio boasts an impressive 57 current assets held, showcasing its expertise in identifying and acquiring high-quality properties that align with its investment strategy. Since its inception, FNRP has distributed over $100 million to its valued investors, a testament to generating returns. Its successful growth is evidenced by the acquisition of over 11.5 million square feet of gross leasable area (GLA) across 23 states, solidifying a national presence and extending reach to diverse markets. One key component of FNRP’s strategy is to take advantage of looming headwinds in the real estate market, and it aims to acquire numerous properties at significant discounts over the next few quarters. The company believes that it will be able to leverage its cash and stable positioning to step in and significantly increase its holdings even as competitors sell. As many industry players are looking at selling and drawing down their portfolios, it’s important to understand which firms are prepared. With its focus on recession-resilient real estate, FNRP continues to explore innovative solutions to navigate the current landscape and lay the foundation for future success – accredited investors may want to take note. Learn more about FNRP’s upcoming deals here. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com
August 30, 2023 09:15 AM Eastern Daylight Time
News ReleaseSecond Most Fatal Cancer In U.S. May Face A Big Fight From Mainz Biomed’s Non-Invasive Test; (NASDAQ: MYNZ) Is Making Early Detection Possible
Benzinga
By Faith Ashmore, Benzinga Colorectal cancer is the third most common cancer worldwid e, and the second most fatal. Although the majority of colorectal cancer cases have historically occurred in individuals aged 50 and older, it is increasingly affecting younger people. Alarming statistics reveal that new cases of colorectal cancer in individuals under the age of 50 have been steadily rising over the past few decades. Colorectal cancer is now the leading cause of cancer death for Americans between the ages of 20 and 59 years old according to the National Cancer Institute. However, younger adults are not routinely screened for colorectal cancer as it is still relatively uncommon in their age group. Determining the exact reasons for this uptick remains a challenge, although many experts believe this trend is being driven by a sedentary lifestyle, obesity, smoking, heavy alcohol use, low-fiber, high-fat diets or diets high in processed meats and other environmental factors. However, even without absolutely clear answers, regular screening is crucial to early detection followed by highly successful treatment of colorectal cancer. The CDC reports that colorectal cancer is the second most fatal cancer in the United States and Europe. However, it is also the most preventable, with early detection leading to survival rates above 90%. Given the rising incidence in young individuals and the majority's lack of regular screenings until later in life, accessible screenings are more important than ever. By providing efficient and convenient methods for early detection, healthcare professionals can make significant progress in combating colorectal cancer and ultimately save countless lives. Mainz Biomed (NASDAQ: MYNZ), a company that specializes in developing molecular genetic diagnostic solutions for life-threatening conditions, has created ColoAlert, an innovative product that addresses the need for easier and more accessible cancer screenings for quick detection and treatment of colorectal cancer. This non-invasive and user-friendly test aims to make colorectal cancer screening fast, simple and precise. The test is the first DNA-based screening test for colorectal cancer in Europe. ColoAlert has been recommended by the U.S. Preventive Services Task Force – stool DNA tests, such as ColoAlert, should be conducted once every three years, starting at age 45. Every year, 16.6 million colonoscopies are performed in the U.S. alone, and yet one-third of U.S. residents aged 50-75 have never been screened for colon cancer. Many times, fear of a colonoscopy contributes to populations avoiding the screening; ColoAlert is a non-invasive solution to the long-standing apprehension. Simply put, this innovative screening tool is not limited to younger ages. In fact, ColoAlert may have an annual market opportunity in excess of $4.0 Billion in the U.S. for testing populations aged 50 and above every three years. ColoAlert's unique genetic profiles allow for tailored treatment for each individual patient, leading to better health outcomes for patients with colorectal cancer. This revolutionary product is a major stride in combating colorectal cancer and has the potential to save countless lives. Mainz Biomed is quickly emerging as a strong contender in the diagnostic industry, putting renowned companies like Exact Sciences (NASDAQ: EXAS) and Geneoscopy Inc. on notice. While both Exact Sciences and Geneoscopy utilize DNA and RNA biomarkers respectively, Mainz Biomed is breaking new ground by revolutionizing the field with its cutting-edge evaluation of groundbreaking patent-pending mRNA biomarkers. This is evident by the company's ColoAlert® recent success in the market. The revenues generated by ColoAlert® in the first half of 2023 surged by an impressive 108% when compared to the same period in 2022. This remarkable growth further solidifies Mainz Biomed's position in the industry and showcases its ability to develop groundbreaking products that meet the needs of healthcare professionals and patients alike. With its pioneering approach and revenue growth over H1 this year, Mainz Biomed seems poised to disrupt the market and establish itself as a trusted and innovative provider of molecular genetic diagnostic solutions. Their commitment to pushing the boundaries of diagnostic technology and growth trajectory seems to be making them a force to be reckoned with in the industry, setting them apart from their competitors. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com
August 30, 2023 09:15 AM Eastern Daylight Time
News ReleaseLogitix Names Sports Industry Executive Travis Apple as Chief Revenue Officer
Logitix
Logitix, the leader in live event ticketing technology and analytics, announced it has named Travis Apple as Chief Revenue Officer. Apple will oversee all revenue for Logitix as the organization continues to bring innovation to the ticketing landscape in sports and entertainment. Apple’s extensive sports industry experience includes overseeing ticket sales and service for organizations in the NBA and MLB. Apple joins an experienced team at Logitix that works with over 400 teams and properties from the MLB, NFL, NBA, NHL, NCAA, and other live event companies across the sports, music, performing arts, and entertainment industries. As CRO, Apple will connect the ticket-selling world to Logitix’s unique platform that analyzes millions of real-time data points and provides up-to-the-minute insights within the live event marketplace. “Travis brings incredible experience and expertise across our diverse market segments,” said Logitix CEO Stu Halberg. “Having been a Logitix partner, a competitor, and a decision maker to many of Logitix’s clients, Travis understands the needs of our industry and the value that Logitix brings to any ticketing strategy.” Apple is an award-winning author, weekly podcast host, and business strategist and was most recently the Executive Vice President for General Sports Worldwide, an executive search and training firm. Prior to that, he was Vice President of Ticket Sales & Service for the Miami Marlins (MLB) and Senior Director of Team Marketing and Business Operations (TMBO), where he oversaw ticketing for all of the NBA, WNBA, and G-League teams. “I am thrilled to be joining the impressive Logitix team and showcasing the innovative technology that we can provide to sports and entertainment clients,” says Apple. “Throughout my team and league experience, it became clear there is an opportunity for the right partnerships to drive business operations. This new role combines my passion for identifying difference-making technology to help drive sports and entertainment business operations. I look forward to providing those services for our global clients. ” Earlier in his career, Apple was the Vice President of Ticket Sales & Service for the Phoenix Suns (NBA), Phoenix Mercury (WNBA), Arizona Rattlers (AFL), and Northern Arizona Suns (G-League). Before his time in Arizona, he was the Senior Director of Ticket Sales for the Orlando Magic (NBA) and the Director of Business Development for the Pittsburgh Pirates (MLB). He started his career with the Atlanta Hawks (NBA), Atlanta Thrashers (NHL), and State Farm Arena. Apple has established himself as a thought leader in the sports industry, having written the book Hustle Your Way to $ucce$$ in Sports Sales. He also hosts a weekly podcast, 52 Weeks of Hustle, where he sits down with industry leaders to discuss their career paths and what it takes to be successful. He graduated from Ashland University with a triple major in Sports Communication, Electronic Media Production, and Journalism. About Logitix Logitix is the preeminent monetization engine and ticketing platform for the live event industry, combining optimized pricing, distribution, and inventory management with real-time insights to help sellers and buyers respond to a rapidly changing market environment. The Logitix vision is to automate the entire ticket life cycle and provide data-driven insights to serve the diverse needs of its clients. The company is backed by ZMC and is privately held. For more information about Logitix, visit Logitix.com or find them on LinkedIn. Contact Details Eric Nemeth +1 602-502-2793 nemeth@ericpr.com Company Website https://logitix.com/
August 30, 2023 08:15 AM Eastern Daylight Time
News ReleaseKulfi Beauty Experiences Significant Retail and Category Growth
Kulfi Beauty
Starting September 1st, Kulfi Beauty is launching exclusively into Sephora brick-and-mortar locations, approximately 281 in the United States and 59 in Canada, marking the first time the brand has physical retail presence. With a blockbuster launch online at the beauty specialty retailer only a year ago, and the first South Asian inspired makeup brand to be carried at Sephora, Kulfi will officially be introduced in-stores via "The Next Big Thing" section, an end cap display in the store that highlights today’s most promising up-and-coming indie brands. Since its February 2021 debut, Kulfi Beauty has experienced exponential growth, with sales increasing fourfold last year. The brand’s growth can be attributed to its partnership with Sephora in tandem with the introduction of key new product categories that serve the brand’s customers. But it’s Kulfi’s continued ability to foster a community of brand loyalists eager to weigh in and contribute to the brand that has propelled their success. The new in-store launch serves to bring all these factors together allowing fans of the brand and new customers to experience Kulfi Beauty first-hand and interact by way of real life activations. “From our inception, we have always looked to Sephora as a strong brand partner - from the earlier stages as a graduate of Sephora Accelerate 2021 program to our intentional expansion fueled by an enthusiastic customer community. Our community has been demanding us to be present in-store and we’re excited to meet them in real life with this launch. ” - Priyanka Ganjoo, Founder of Kulfi Beauty. The in-store Sephora display will carry a selection of best-selling shades that represent the brand’s offerings including all 5 core colors of the award-winning Underlined Kajal Eyeliner; 3 shades of Mehndi Moment Blush, including Lucky Lotus, a purple hue that went viral on TikTok; 3 shades of Zari Eyes Eyeshadow, including a bronze, rose gold, and Chammak Challo, their bright chartreuse; 10 of 21 shades of their award-winning Main Match Concealer, one to represent every shade family starting from rich deep to very light; and 4 shades of Heirloom Satin Lipstick. In August 2023, Heirloom Satin Lipsticks debuted as the brand’s newest launch. These hydrating lipsticks, boasting a balm-like texture and infused with Vitamin E, present a range of neutral colors designed to suit a variety of skin tones and undertones. Recognizing that not every shade is universal, Kulfi’s goal is to provide a diverse selection that caters to different individuals. The brand worked closely with their community through focus groups to develop custom shades that can become your everyday go-to neutral lip color. Kulfi is especially attentive to the needs of people with olive undertones & brown skin tones, significantly underrepresented groups when it comes to shade research in product development. In the same vein and also in response to the feedback of their community, last month Kulfi expanded the shade range of their cult-favorite Main Match Concealer, introducing 9 new shades and bringing the total to 21. This expansion further underscores the brand's commitment to providing options for everyone. Priding itself on its community-driven movement, Kulfi looks to engage Gen Z and Millennial consumers who value self-expression and culturally rooted conversations to actively participate in building the brand through shared experiences. Presently the brand is going "on the road" through their “Color Me Kulfi” campaign, with community pop-up experiences in multiple cities across the nation celebrating its launch in Sephora stores with activations in key cities: New York, Los Angeles, Dallas, and Miami. The events kick off September 20th and amongst which will include an action packed flagship event on September 30th in partnership with the iconic NYC Meatpacking District featuring a vibrant pop-up right in the heart of Gansevoort Plaza, and will extend through the months of September and October. Throughout the tour Kulfi will offer up a variety of activities to engage their community, including meeting expert make-up artists, indulging in the delightful flavors of kulfi ice cream, providing aura readings, mingling with fellow beauty enthusiasts, and experiencing the magic of Kulfi Beauty firsthand. “It’s been a dream of mine to bring forward a brand that centers joy through playful colors and innovative textures, making beauty more approachable and inclusive. I look forward to personally meeting our Kulfi community IRL over the next few months at Sephora and sharing our newest innovations.” - Ganjoo About Kulfi Beauty: Kulfi Beauty is a celebration of culture and beauty with makeup that’s vegan, clean, and cruelty-free. Creating space for joy and self-expression, Kulfi offers the highest quality of product innovation using boldly pigmented formulas that were designed as a medium for inspiring creativity. Kulfi is inspired by South Asian culture and is a platform for empowering the community through representation and support for mental health. As a forward-thinking brand, Kulfi champions diversity, representation, and empowerment. By offering inclusive beauty solutions and engaging with its community, Kulfi seeks to redefine beauty standards and inspire individuals to express themselves. Named after the iconic ice cream, Kulfi is a reflection of the brand’s South Asian heritage and a tribute to the unique experiences and memories we cherish. For More Information on Kulfi Beauty: Website: kulfibeauty.com Instagram: @kulfi.beauty TikTok: @kulfi.beauty Contact Details Amanda Smeal amanda@amandasmeal.com
August 30, 2023 08:11 AM Eastern Daylight Time
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News ReleaseFTN Network Announces Multi-Year Contract with Football Data Giant Aaron Schatz
FTN Network
FTN Network, a company built for delivering affordable, customizable, and highly detailed and advanced NFL data for betting, season-long fantasy, and daily fantasy, announced today that it has signed industry-leading football data analyst and DVOA creator Aaron Schatz to a multi-year contract and named him Chief Analytics Officer. On the heels of his decision to partner with FTN for the release of his industry-leading Football Almanac, Schatz joins FTN after leaving Football Outsiders, which he created in 2003. FTN Network will now feature Schatz’s DVOA, a unique statistical method of evaluating football teams, units or players, and all of Schatz’s football-related content. Football lovers will be able to find Schatz’s insights on FTN Bets, FTN Daily and FTN Fantasy. FTN Bets subscribers will see DVOA (Defense-Adjusted Value Over Average) and other impactful stats such as adjusted line yards incorporated into its NFL Model, while FTN Daily customers will have access to DVOA vs specific defenders. Its daily fantasy player projections and rankings will also incorporate Schatz’s extensive data. FTN Fantasy will have DVOA, Defense-adjusted Yards Above Replacement (DYAR) and many other stats unique to Schatz’s analytics available to its subscribers. Lastly, DVOA will also be integrated into FTN Data’s business-to-business offering for 2024. This will be the first time Schatz’s unique NFL Data is available directly to other businesses. “Adding Aaron as Chief Analytics Officer for the long term and as a voice in the FTN community was of utmost importance to us,” said FTN Network CEO Kevin Adams. “The day we launched the 2023 FTN Football Almanac, the site almost crashed and we had to upgrade our server capacity fourfold, showcasing the literal impact Aaron’s talents have made on our site already. Aaron is the best of the best, and we’re incredibly proud to be able to offer Aaron and his data and insights to our community, and continue to provide the best leg up when it comes to fantasy and betting.” In addition to his written work, Aaron will also co-host a bi-weekly podcast with NFL writer Mike Tanier on the FTN Podcast Network entitled “The Schatz & Tanier NFL Podcast.” Schatz will also run a premium Discord channel where he will field questions directly from FTN subscribers. “I have been incredibly impressed with FTN since our first meeting for the 2023 Football Almanac,” Schatz said. “The resources and support that I have received since I started working with FTN have not only been a natural fit, but have made the adjustment to my new environment almost seamless. Because of the flexibility and depth of FTN’s data, I’ve been able to prepare for the upcoming football season without skipping a beat. I’m looking forward to creating more engaging content for the FTN community over the next few years.” Schatz’s resume also includes writing for ESPN.com and ESPN The Magazine, and appearances as a regular panelist on ESPN 2’s Numbers Never Lie, among other accomplishments. He has spoken at numerous conferences including the MIT Sloan Conference and he has written for many esteemed publications including The New York Times, The Boston Globe and Slate. Aaron Schatz's FTN Football Almanac 2023 is still available for purchase, and is available in digital and paperback versions. About FTN Network FTN Network is a sports data B2B and fantasy sports and betting media B2C company. Founded in 2020, FTN gives the fantasy and sports betting community an edge through its own unique ecosystem, providing customizable tools that turn raw data into true insights while also offering expert analysis and content to help users make the best decision possible. FTN Network consists of FTN Fantasy (the home of fantasy football), FTN Daily (the home of daily fantasy sports), FTN Bets (the home of sports betting insights) and FTN Data (the home of NFL data). Contact Details Sterling A. Randle +1 801-319-6153 srandle@hotpaperlantern.com
August 29, 2023 10:01 AM Eastern Daylight Time
News ReleaseThis Fandom Social Media App Based on AI Harnesses The Economic Power Of Fandom – And Shares It With Its 26 Million Users
Benzinga
By Rachael Green, Benzinga Hanryu Holdings, Inc. (NASDAQ: HRYU) launched Version 2.0 of its K-culture fandom platform, FANTOO, this month. The 26 million users currently using FANTOO will now get personalized content and a more user-friendly interface. Here’s a closer look at what the global fandom social media platform offers users and how it’s generating earnings for the company and its shareholders. What Is FANTOO? Unlike other fandom apps that are centered around a single artist or group, FANTOO is a global platform for all fandoms. Its current user base spans 150 countries, but real-time multilingual translation erases language barriers so users can connect with each other over their shared interests regardless of language or location. The fandom-oriented social media app gives fans a place to join or start clubs focused on their favorite artists, shows and more. They can unpack the latest episode of their favorite K-drama with fellow fans, vote for their favorite K-pop artist in monthly contests, and create content to share in clubs or the main feed. That includes webcomics, fan art, fan fiction and other fandom-related content. What separates the app from any other social media platforms out there, though, is a unique reward system that actually allows users and content creators to earn money on their fandom content and interactions. Creating content, posting, liking, sharing and other activity in the app is rewarded with FP points. Those points can be used to make purchases in the app or be converted into your local currency and withdrawn. Another way users can earn is by selling things on the fan shop, an eBay-like platform for buying and selling merchandise and collectibles related to their favorite fandoms. FANTOO 2.0 Comes With Multiple Revenue Streams Right now, Hanryu generates the bulk of its revenue through advertising, generating over $889,000 from that stream in 2022. Brands advertising on the platform have access to a highly engaged audience along with the data analytics needed to get their message in front of the users most likely to be interested. But the company has added additional sources of revenue throughout this year, including transaction fees, user-created content, merchandise and live shows streamed on the platform. Looking ahead, Hanryu has more big plans in store for FANTOO including expanding the range of fandoms that can gather on the platform and a metaverse version of the platform where fans can meet and explore the different features of the app in virtual reality. The company also announced a partnership this month with SALTLUX, a South Korea-based AI tech company that’s developed an AI-powered conversational virtual assistant. SALTLUX bears the distinction of holding the most AI and big data-related patents in Korea. Through the partnership, Hanryu plans to adapt the technology to create personalized AI assistants and chatbots. Slated to launch later this year, the service will use voice synthesis and deep learning technology to allow fans to have realistic conversations with an AI that sounds like their favorite celebrities. Chang-Hyuk Kang, CEO and Director of Hanryu Holdings, commented on the development, "We are pleased to partner with SALTLUX to integrate AI into FANTOO. This advanced technology will provide our loyal userbase with an enhanced experience on FANTOO. Launching our conversational virtual assistant is only the beginning of AI capabilities on our platform." This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com
August 25, 2023 09:15 AM Eastern Daylight Time
News ReleaseHow Shapeways Is Helping Small And Midsized Manufacturers Digitize Their Operations Through Its Proprietary Software
Benzinga
By Faith Ashmore, Benzinga Shapeways Holdings, Inc. (NASDAQ: SHPW), a major player in the field of digital manufacturing, is currently redefining the global manufacturing industry. Shapeways is achieving this shift through enabling on-demand manufacturing and simplifying complex production through its proprietary software system. The company is helping other small and midsized manufacturers do the same, providing access to Shapeways’ proprietary software and supporting them in digitizing their operations, growing revenue, and expanding manufacturing capabilities. “The manufacturing industry is one of the largest markets that has yet to be digitized. We see large manufacturing companies investing in digital transformation, but the smaller and midsized players have often missed out,” shared Gregory Kress, CEO of Shapeways. “We want to help them achieve the same benefits as those larger companies.” Realizing a need–and recognizing the opportunity–to reshape manufacturing, Shapeways responded with the launch of OTTO, a proprietary software platform that streamlines ordering, performs file analysis, and accelerates production. OTTO offers advantages beyond optimizing labor efficiency, asset utilization, and inventory costs. This powerful software platform also strengthens relationships between manufacturers and their customers, encouraging growth and paving the way for future opportunities. Acquiring MFG in 2022, Shapeways further reinforced the connection between their manufacturers and buyers by deploying software features and services to the platform. MFG.com now provides an end-to-end procurement and management system, helping manufacturers increase productivity and revenue. The MFG service benefits business owners, industrial designers, and engineers. Shapeways recently introduced MFG Materials, a new software offering on the MFG platform. This addition provides manufacturers with access to a wide range of raw materials at an average discount of 15% off list prices. Reflecting Shapeways' commitment to the manufacturing sector, this innovative solution is designed to tap into the large and growing global raw materials market, with aluminum alone valued at $169.8 billion in 2021. This market is projected to reach $277.5 billion by 2030, according to Precedence Research. Building on user feedback, Shapeways also developed MFG Transactions within the MFG platform. Requested by 92% of MFG buyers, this practical solution allows manufacturers to handle invoices and payments directly. Shapeways introduced the 3D Model Viewer too, a sophisticated tool that simplifies the quoting experience, showcasing all the files a potential buyer uploads with their RFQ (including 2D files). The 3D Model Viewer not only enables interactive highlighting and grouping of intricate details, but also delivers precise measurements and superior visualization techniques. Leading with world-renowned expertise and advanced software, Shapeways is well-positioned to revolutionize the manufacturing landscape. By extending their innovative, on-demand manufacturing services and software to a broad range of industries, Shapeways allows other companies to tap into their knowledge and insights to remain competitive in an ever-changing modern market. Read more about what Shapeways is doing in the manufacturing and software industries. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com
August 25, 2023 09:15 AM Eastern Daylight Time
