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PR Newswire

Entain Marks Its First Day With Measures To Deliver On Its New Strategy

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– U.S. growth accelerates as BetMGM plans to double its footprint in three months

– Entain to seek licence in Canada and becomes the first global sports betting and gaming operator to gain a licence in Latin America

LONDON, Dec. 10, 2020 — The global sports betting and gaming group previously known as GVC Holdings plc, marked the first day of trading under its new name with a range of measures to deliver on the vision and direction recently outlined by its CEO Shay Segev. The new measures extend across all the countries in which it operates with brands including bwin, PartyPoker, Ladbrokes, Coral, FoxyBingo and BetMGM.

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Last month Entain announced a new strategy to deliver significant growth, driven by expansion in the U.S., growth across its core business, entry into new markets, and to new audiences. Entain, which has a very strong track record of 19 consecutive quarters of double-digit growth in its online business, also committed to lead responsible gaming with a new Sustainability Charter. Under this charter, the business pledged to focus only on regulated markets and use its proprietary technology to raise levels of player protection. 

As part of these plans to deliver growth and sustainability, Entain today confirmed strong momentum and market share gains in the U.S. for BetMGM, its joint venture with MGM Resorts. Between October and January BetMGM is adding five new states, doubling its population reach in three months to around 75 million across 12 states. Entain also disclosed that BetMGM’s most recent state launch in Tennessee has been its most successful go-live yet with revenues already ahead of those in more established states. Powered by Entain technology, BetMGM expects to be in over 20 states by the end of 2021.  

"We are firmly on track to take further leadership in the U.S. as well as in many other newly regulated markets that are now opening around the world." said Segev. "At the heart of our growth strategy is a determination to bring the best player experiences and protections to our industry as technology moves sport and interactive entertainment into a new era. In the U.S., we invested in building the right building blocks for the BetMGM platform to grow and become a long-term leader in the U.S., with superior technology and capabilities, and this is now paying off."

Entain also fleshed out its new Sustainability Charter, allocating money to new projects which will be delivered through its international Foundation around the world. It also gave further detail on its new Advanced Responsibility and Care (ARC) initiative, seeking to revolutionise player experiences and protection through world-leading research, data science and technology. Other new measures include:

Focus on new regulated markets: In line with its stated intention to focus on fully regulated markets, Entain today announced it has become the first global sports betting and gaming operator to gain a licence in Latin America and expects to go live in Colombia over the next month. Colombia is one of the first countries to issue licences in Latin America with others, such as Brazil preparing to follow. Elsewhere in the Americas, Canada is also moving ahead with regulation and Entain confirmed it will be applying for licencing in Canada.

  • Investing in people and communities: Entain has pledged to invest £100 million over five years in the Entain Foundation to fund responsible gaming initiatives and to support people and communities around the world where it operates. Today, it announced a series of international commitments: 

    UK: Entain and the three Trident Leagues (The Isthmian, Northern Premier and Southern Leagues) are to launch the Trident Community Foundation to help fund community-based projects. Grants will be open for the 228 football clubs that participate in the leagues.
    "Pitching In", Entain’s recently launched grassroots sport investment programme, is the founding partner of the Trident Community Foundation (TCF) and has donated £150,000 to establish the TCF fund, for distribution over the rest of the 2020/21 season.

    US: The Entain Foundation is rolling out an extensive state-by-state program with EPIC, a charitable organisation which works with former athletes and people who have overcome gambling addiction to help educate people on how to play safely.

    The U.S. project announced today with EPIC extends the program to a total of 15 Pro Sports teams and over 20 colleges across the country, including Harvard University, University of Oregon, and the Mid-American Conference. Entain and EPIC plan to work together to add additional professional sports leagues and colleges across the US during 2021. 

    Germany: The Entain Foundation will continue existing sports integrity projects in Germany and receive early funds to initiate further activities around responsible gaming.

    Australia:  The Foundation has announced initial new projects to advance responsible gaming with Relationships Australia, a community-based not for profit organisation which provides a range of counselling and support services to problem gamblers and their families. The new funding will be used to support a social media campaign to reach vulnerable audiences and to raise awareness of the signs of gambling addiction.

  • Advanced Responsibility and Care (ARC): Under this recently announced programme, Entain will combine its technology with research and insight from leading psychologists and Harvard to develop innovative experiences and safeguards for a new era in interactive sport and entertainment. To this end, Entain today announced that:

    Dr. Michael Auer,     a leading academic and member of the scientific community at the University of Hohenheim in Germany, specialising in behavioural psychology and addiction, will join Entain alongside Professor Mark Griffiths, Distinguished Professor of Behavioral Addiction and Psychology at Nottingham Trent University. They will evaluate and advise on improvements to Entain’s guidelines and processes in relation to responsible gaming.

For more information see the Group’s website: www.entaingroup.com

Video – https://mma.prnasia.com/media2/1372389/Entain.mp4?p=medium600

PR Newswire

Singapore Startup Helps Owners Sell Their Car in Record Time, Builds First AI Valuation Tool in Region

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Partnering global technology company Huawei, UCARS aims to build consumer trust and satisfaction in the automotive industry with its latest integration of cutting-edge technologies into its platform

SINGAPORE, Dec. 7, 2020 — Singapore’s fastest-growing online car marketplace to buy and sell new and used cars, UCARS is integrating Artificial Intelligence (AI) and cloud computing into its platform together with Huawei to provide consumers with enhanced transparency, security and satisfaction.

Singapore car owners can now expect to sell their vehicles within three days at the highest prices when they use the AI-enhanced tools provided by the UCARS platform. This is part of the company’s commitment to shifting the automotive industry towards a more modernised and customer-centric landscape.

Using AI, the company has successfully created a proprietary valuation tool on the platform that provides consumers with an estimate of their cars’ resale value within seconds, making it the first instant AI Car Valuation Tool in Southeast Asia. Compared to other valuation methods that take at least a day to give an estimate, the UCARS AI Valuation Tool is the fastest valuation tool available to consumers in the region.

With the current economic lull due to COVID-19, transfer of private vehicle ownership for cars has seen an average of 15% year-on-year increase compared to September last year and reached an all-time high in September this year (source: LTA). Consumer demand for new and used cars has been seeing a steady increase in the Southeast Asia region. 

"We speculate that some Singaporeans are anticipating an economic rebound in the near future, and coupled with pent-up demand for cars and reduced quotas, we are expecting to see car sales skyrocket in the coming months," said Cho Kok Yick, Chief Technology Officer at UCARS.

One seller, Gideon Lam, who has successfully sold two cars on UCARS, stated that his experience was a seamless process as UCARS "helped to coordinate all the necessary" without him needing to do extensive preparatory work. Another seller, Michael Chong, showed appreciation towards UCARS for ensuring that the entire process was "smooth and transparent" on both ends.

"We want to make the second-hand car selling process as safe and as easy as possible, this is why we continuously invest in AI technologies. This will, of course, be made possible by Huawei technologies," Cho added.

"This is a really exciting time, where we see more companies harness the power of AI to change the way they do business. Huawei is excited to embark on this journey with UCARS to help digitalise and deepen consumer trust in the automotive industry as well as to improve the customer journey and experience," said Daniel Zhou, President of Huawei Cloud & AI Group, Asia Pacific.

Making Better Decisions with AI

Due to the pandemic, consumers worldwide have shifted their shopping patterns, and this applies to the automotive industry that traditionally thrives on face-to-face interactions.

To help consumers make better informed decisions in a fraction of the usual time, UCARS is progressively introducing new and improved tools and services powered by AI onto the platform by partnering Huawei.

With the help of HUAWEI CLOUD, UCARS seeks to deepen consumer trust by integrating better infrastructure and cloud security into the platform, and embarking on several AI-related projects to improve customer experience. This includes a Car Image Search Engine powered by machine vision and machine learning, as well as an improved AI Valuation Tool. All of them are developed on ModelArts, the AI platform of Huawei.

Using an improved algorithm, the accuracy of each valuation on the UCARS AI Valuation Tool improves with every use. By getting a better estimate on the value of their car, consumers can sell their car on the UCARS platform with ease of mind knowing the amount they can expect to get back, and at a fraction of the usual time it would take on other automotive platforms.

UCARS is also working on creating an AI-powered car search tool to help consumers identify the make and model of a car using only images. With machine vision, image recognition can be utilised to find a specific vehicle that consumers desire.

"We are confident that by building a strong core in the area of deep tech, we will be able to power future growth in the automotive industry in a post-COVID world," said Cho.

With the government’s push for digitalisation, disruptive technology solutions like artificial intelligence platforms, big data platforms, startups like UCARS are stepping up to create and adapt their current technologies.

Transparent Experience on the Cloud

Notably, the automotive industry faces difficulties communicating and forging meaningful relations with its consumers in a digitising society due to obsolete and inefficient operating processes. Consumers therefore lack the trust and confidence in the products and services sold by local car dealers.

According to Cho, UCARS eliminates the need for consumers to disclose their personal contact by using the platform’s built-in chat system. This allows consumers to connect seamlessly with dealers without divulging more information than they wish to.

Moreover, when dealers list on UCARS, there is no need for consumers to worry about hidden fees, undisclosed package deals, as they are provided with the latest and most accurate information on every listing.

Cho added that, after migrating its backend systems to HUAWEI CLOUD, the UCARS platform has become more stable and is now able to handle large amounts of data much better and securely than before.

Launched in Singapore early last year, HUAWEI CLOUD has been investing copious resources in partnering local startups such as UCARS. They strive to optimise their backend infrastructure and AI algorithms to better meet business objectives, all while keeping HUAWEI’s services secure and affordable. UCARS is also one of the five finalists in Huawei Spark 2020, a hybrid accelerator programme launched by Huawei for deep tech startups.

"A more robust architecture translates to enhanced user experience for both dealers and consumers. We truly appreciate the help that Huawei has been providing us throughout the integration process, and we look forward to more collaborative projects in the future," he added.

With innovation at the heart and technological know-how in mind, UCARS continues to bring consumers and dealers closer by digitising human interactions in the automotive industry, taking its place as the future of automotive retail.

 

PR Newswire

RSUPPORT supports Korea Deposit Insurance Corporation’s global non-face-to-face training with ‘RemoteSeminar’

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– Korea Deposit Insurance Corporation held the 2020 KDIC Global Training Program virtually using ‘RemoteSeminar’

– Ten times increased participants from 20 to 200 with ‘RemoteSeminar’, no space restrictions

– 200 participants from 22 countries including Asia, Africa, and South America joined ‘RemoteSeminar’

SEOUL, South Korea, Dec. 7, 2020 — Korea Deposit Insurance Corporation conducted a global deposit insurance system training program for their staff and employees in 22 countries through RSUPPORT’s webinar service RemoteSeminar.

Seong Bak Wi, the President of the Korea Deposit Insurance Corporation, delivered a welcome speech at the 2020 KDIC Global Training Program via RemoteSeminar.
Seong Bak Wi, the President of the Korea Deposit Insurance Corporation, delivered a welcome speech at the 2020 KDIC Global Training Program via RemoteSeminar.

RSUPPORT Co., Ltd. (www.RSUPPORT.com), a global remote solution company, announced today that ‘RemoteSeminar’ was used for the non-contact global training program of Korea Deposit Insurance Corporation.

Korea Deposit Insurance Corporation (hereinafter KDIC) held the "2020 KDIC Global Training Program" for employees of deposit insurance organizations in 22 countries on four continents, including Asia, Africa, South America, and Europe during November 24 to 26. From 2017 to 2019, participants from various countries visited South Korea. Due to the COVID-19, however, KDIC invited participants to the online via RemoteSeminar, a cloud-based webinar service.

RemoteSeminar is a web browser-based webinar service that allows you to easily and conveniently conduct online seminars without adopting of a separate transmission system or adding a live streaming service. It provides features optimized for webinars from event preparation to operation, visitors, and statistical analysis, and offers an intuitive user interface (UI) that allows experts as well as students and the general public to easily host webinars.

According to the KDIC, only about 20 participants were allowed to participate due to space constraints in the training center. This year, however, the number of participants increased to 200 thanks to the RemoteSeminar, the online webinar service. Through this event, overseas participants can experience the outstanding technology of Korean non-face-to-face webinar platform, as well as sharing the knowledge and experience of the deposit insurance system.

Hyung Su Seo, CEO of RSUPPORT, said, "We are very pleased to provide KDIC with RemoteSeminar for this significant international event". He also added "Collaborating with the trusted public institutions as KDIC and companies, RSUPPORT will lead the global non-face-to-face solution market."

About RSUPPORT Co., Ltd

Founded in 2001, RSUPPORT Co., Ltd has been one of the pioneers and led the global remote solution industry. RSUPPORT develops and delivers rapid and reliable remote services for consumers, small and medium businesses, and enterprises worldwide.

Based on its advanced remote technologies and accumulated know-how, RSUPPORT provides a comprehensive lineup of remote and non-contact solutions: RemoteMeeting for video conferencing, RemoteView for remote access and control, RemoteCall for remote troubleshooting and support, and RemoteSeminar for the online seminar. 

RSUPPORT delivers its outstanding remote services for more than 10,000 customers worldwide in various industries, including PC and mobile device manufacturers, telecommunications companies, financial companies, etc. That is how RSUPPORT has firmly established its market position and manages sales partners in many countries worldwide.

Related Links :

http://www.RSUPPORT.com

PR Newswire

Indosat Ooredoo partners with Comviva, the leader in mobility solutions to accelerate growth

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Comviva to deliver its next-gen real-time analytics platform

JAKARTA, Indonesia, Dec. 7, 2020 — Comviva, the global leader in mobility solutions and Indosat Ooredoo, Indonesia’s leading mobile operator announced a strategic partnership today.  

The partnership will help rapidly enhance Indosat’s customer first marketing capabilities through Comviva’s AI based advanced analytics and marketing automation solution. The MobiLytix™ Real Time Marketing platform will deliver contextual, in-the-moment, omni-channel marketing initiatives to enhance customer lifetime value in today’s hypercompetitive market.

MobiLytix™ Real Time Marketing is a powerful, digital real-time marketing automation platform with massive scale decisioning, artificial intelligence (AI) based complex event processing and multi-channel interaction capabilities to help telecom operators transform their Customer Value Management initiatives.

In a first of its kind, Indosat has also deployed Comviva’s MobiLytix™ Loyalty and Rewards solution which is an integrated Customer Loyalty & Value Management system to actively drive customer loyalty programs. The unified Realtime Marketing & Loyalty and Rewards platforms are an industry best solution to enhance customer engagement and drive digital transformation.

Vikram Sinha, Director and Chief Operating Officer, Indosat Ooredoo said, "We are delighted to partner with Comviva to deliver contextual marketing campaigns and loyalty programs to our 60 million subscribers. In addition to improving customer engagement, the solution has immense potential to increase revenue through data monetization, with the possibility to rapidly grow our digital service offerings. This will support our aim for digital leadership in the region."

Ritesh Singh, Chief Marketing Officer, Indosat Ooredoo said "Our partnership with Comviva has enabled us to empower our customers on their digital journey, and improve customer satisfaction and retention through personalised customer offers and interactions. Not only it enables a better experience for our customers, but also helps generate significant incremental revenue for Indosat."

Manoranjan (Mao) Mohapatra, Chief Executive Officer, Comviva said, "Comviva has designed its next generation analytics platform MobiLytix™ keeping in mind the challenges of its telecom operator partners. We are excited to partner with Indosat Ooredoo to support their digital transformation journey and provide great experiences for their customers. "

Comviva’s MobiLytix™ Real Time Marketing is a next generation real-time interaction management platform that leverages advanced artificial intelligence (AI) and Machine Learning algorithms to drive incremental revenue for enterprises. The platform utilises real-time transactional data in conjunction with a rich unified customer profile to maximize the value of individual customers and their micro-moments of interaction with the service provider.

MobiLytixÔ Loyalty and Rewards is a comprehensive loyalty management solution supporting the complete loyalty program lifecycle and reward partner ecosystem.

For further enquiries, please contact:

Sundeep Mehta
PR & Corporate Communications
Comviva Technologies Ltd.
Email: pr@comviva.com

Logo: https://mma.prnasia.com/media2/995982/Comviva_Logo.jpg?p=medium600  
Logo: https://mma.prnasia.com/media2/1359783/Indosat_Ooredoo.jpg?p=medium600

PR Newswire

OtterBox Hong Kong acquires Roxfit, with aim to reach new audiences

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HONG KONG, Dec. 7, 2020 — OtterBox Hong Kong, a subsidiary of Otter Products LLC, the No. 1 most-trusted case in smartphone protection*, has acquired Roxfit, a UK based mobile accessories brand primarily tailored for Sony’s smartphone devices founded in 2010 by Mr. Malcolm Stapleton, a veteran in designing and manufacturing mobile custom fit protective accessories.

Through this acquisition, Roxfit will allow OtterBox Hong Kong to reach new demographics and new audiences throughout Asia Pacific and European markets.

"We are extremely excited to add Roxfit to our portfolio of brands, as it is an important next step as we continue to expand the products and services that we offer to our customers and partners. This is also exciting as it is the first time that we acquired an entity in the APAC region," said Charlie Parke, Managing Director of OtterBox Hong Kong. "The possibilities are infinite, as we have the opportunity to create an entirely new portfolio of mobile phone cases and accessories to address areas of the market that we have yet to explore with our OtterBox or LifeProof brands."

"I am very pleased with this transition," said Malcolm Stapleton, "I believe in Otter Products and this is certainly the right step forward for Roxfit to continue and thrive in this exciting and ever-evolving region."

The relaunch of Roxfit will take place in early 2021.

About OtterBox Hong Kong

OtterBox Hong Kong, a subsidiary of Otter Products, LCC., boldly innovates and designs premium protective cases for smartphones and tablets. From its humble beginnings in a Fort Collins, Colo., garage, OtterBox has evolved its product lines to meet the needs of today’s mobile consumer to become the No. 1 selling smartphone case in the U.S*.

*Source: The NPD Group/ U.S. Retail Tracking Service: Cell Phone Device Protection/Units Sold/Jan. 2017 – Jul. 2020

 

 

Related Links :

http://www.otterbox.asia

PR Newswire

CooTek to Announce Third Quarter 2020 Unaudited Financial Results on December 15, 2020

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SHANGHAI, Dec. 5, 2020 — CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), a fast-growing global mobile internet company, today announced that it will report its unaudited financial results for the third quarter 2020 ended September 30, 2020, before the open of U.S. markets on December 15, 2020. CooTek’s management team will host an earnings conference call at 8:00 AM U.S. Eastern Time on December 15, 2020 (9:00 PM Beijing Time on the same day).

Dial-in details for the earnings conference call are as follows:

United States:

1-888-346-8982

Hong Kong:

800-905-945

China:

4001-201-203

International:

1-412-902-4272

Passcode:

CooTek

Please dial in 15 minutes before the call is scheduled to begin and provide the passcode to join the call.

A telephone replay of the call will be available after the conclusion of the conference call until 7:59 AM ET on December 22, 2020:

United States:

1-877-344-7529

International:

1-412-317-0088

Passcode:

10150445

A live and archived webcast of the conference call will be available on the Investor Relations section of CooTek’s website at https://ir.cootek.com/.

About CooTek (Cayman) Inc.

CooTek is a fast-growing mobile internet company with a global vision, offering mobile applications. Our mission is to empower everyone to enjoy relevant content seamlessly. The Company’s user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users’ ever-evolving content needs and helps it rapidly attract targeted users. CooTek has developed and brought to market content-rich mobile applications, focusing on three categories: online literature, scenario-based content apps and casual games.

For more information on CooTek, please visit https://ir.cootek.com/ or contact:

CooTek (Cayman) Inc.

Mr. Robert Cui
E-mail: ir@cootek.com 

ICA (Institutional Capital Advisory)

Mr. Kevin Yang
Phone: +86-021-8028-6033
E-mail: cootek@icaasia.com

PR Newswire

Website Builds Calculator Showing How Long It Will Take You to Afford Mahomes’ KC Mansion – My Home vs Mahomes

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ISELIN, N.J., Dec. 4, 2020 — Mahomes’ recent signing with adidas to create a personalized shoe in honor of his old high school got us thinking about the young athlete’s meteoric rise. Although it is not one hundred percent known what the twenty-five year old athlete’s net worth is, it is known how much he bought his Kansas City mansion for. With that in mind, World Sports Network (WSN), has created a calculator to find out how many years it would take the average earner to purchase his mansion on their own salary.

"We built the tool thinking it would be fun to see how long the average worker would have to save to afford a pro athlete’s house. For instance, assuming the average salary in the USA is sixty-five thousand dollars a year, and assuming that you have no other expenses, it would take you twenty-nine years to afford Mahomes’ KC mansion. That is nothing in comparison to Tiger Woods’ house, which would take the average worker eight hundred and thirty-one years to afford!" –Evan Henningsen, an Editor as WSN. 

Also on the list of major athletes whose mega mansions one can compare against are Serena Williams, Floyd Mayweather, Tom Brady, LeBron James, and many more.

WSN prides itself on reporting on the sports, news, guides, picks, and tools that sports fans need in their daily lives as they interact with the teams and leagues they love the most. The Mahomes calculator is one of many fun tools provided by WSN.

Media Contact:
Gustave Seeberg
Phone: +4526608652
Email: gustave.seeberg@wsn.com

PR Newswire

Dye & Durham to Enter Australian Market with $87 Million Acquisition of SAI Global Property Division

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  • The acquisition provides a large footprint into the Australian market and creates the opportunity to build a larger Australian business through future M&A that may unlock substantial synergy potential
  • Acquisition of a predictable business model with a diversified B2B customer base using a deeply embedded cloud-based workflow software
  • Delivers near-term cash flow, at an attractive valuation multiple, with room for multiple expansion through synergies

TORONTO, Dec. 5, 2020  — Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, today announced that it has entered into a definitive agreement to acquire SAI Global’s Property Division for Aus$91 million, or approximately Cnd$87 million1, in cash.  The transaction is expected to close in early 2021, subject to required regulatory approvals.

SAI Global’s Property Division provides its large B2B customer base, which includes conveyancers, solicitors and the financial services sector, with all the necessary workflow software, systems and information products to facilitate and complete the transfer of property.

The business is also an approved ASIC, PPSR and AFSA information broker, providing its large customer base with the mission critical workflow software and public records required to complete many business and commercial transactions. SAI Global is owned by Baring Private Equity Asia.

The acquisition creates a platform in Australia that is highly aligned with Dye & Durham’s existing product lines in Canada and the United Kingdom. The Australia platform is expected to generate meaningful cash flow through its deeply embedded B2B cloud-based workflow software that connects users to more than 3,270 data sources including government registries on a national, state and local council level, to support their regulatory and business compliance processes.

"The acquisition of the SAI Global Property Division opens up a natural geography for Dye & Durham to keep building on its strategy of acquiring, integrating and operating technology businesses in its sector to drive EBITDA growth," said Matt Proud, Chief Executive Officer of Dye & Durham. "It also provides a clear path to build a larger Australian platform in the near term."

The acquisition price is consistent with valuation multiples paid for other recent transactions completed by Dye & Durham.  

Dye & Durham’s advisors for this transaction were Canaccord Genuity and Dentons.

1 Based on an Australian Dollars to Canadian Dollars exchange rate for December 4, 2020 of Cnd$0.95

About Dye & Durham

Dye & Durham Limited is a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada and the United Kingdom, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations

Additional information can be found at www.dyedurham.com.

Forward-looking Statements

This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company’s current expectations regarding future events, including with respect to the proposed time of closing of the transaction and the Company’s acquisition strategy. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the prospectus supplement of the Company dated November 18, 2020 to the short-form base shelf prospectus of the Company dated November 18, 2020. Dye & Durham does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Related Links :

https://dyedurham.com/

PR Newswire

How New Technology Can Help Businesses Adapt to Changing Trends to Bring Convenience to Modern Consumers

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SHENZHEN, China, Dec. 4, 2020 — In 2020, consumer habits have changed dramatically; reflected by the adaptation seen throughout businesses and organisations across the globe. With more and more people turning to online services, the reliance on mobile internet has accelerated.

This is evident with the growth of online on-demand home services, such as food delivery, which grew by 25% in Gross Merchandising Value (GMV) to about US$195 billion just this year alone. Customers clearly look towards having convenience as part of their modern lifestyle, having the services delivered to their homes rather travelling to retail stores on their own. This is observed globally, with China leading the growth. China now has the largest and fastest-growing market for online On-Demand Home Services, with forecasted compound annual growth rate of 15% to US$181 billion in 2024.

While we can partly blame this on the global pandemic, it is also worth considering the overall context of the last few years. These behaviours have occasionally spelled problems for organisations struggling to reach new customers, thanks to technology, but it has also opened some exciting opportunities for those ready to explore a more digital world. 

The changing world of the lifestyle industry

From food delivery to wider lifestyle industries, businesses are having to adapt to this change to stay relevant and successful in consumer’s lives. Notably, successful businesses in the industry and lifestyle sectors are using technological advances to progress.

In 2019, food delivery accounted for about 80% of all food orders, however, only contributed to around 30% of gross profit. Food delivery has been so popular in recent years that in 2017, the US saw 70% of all deliveries related to food products. Since 2017, food delivery services have had to identify weaknesses and continuously adapt to remain competitive.

These changing consumer trends are shaping how online organisations conduct their business. Individuals are increasingly looking to their smartphones to find, browse and order food and other products, creating an appetite for high-quality and tailored platforms such as Meituan. Notably, Meituan demonstrates how lifestyle applications can adapt and thrive in an evolving consumer market. The superapp is now the number one lifestyle shopping and service platform, with an estimated market value of US$250 billion in October. The platform succeeds because it shows a willingness to accept digital change and offers a service that consumers love.

Other on-demanded services are also seeing competitive growth in all sectors. For example, Meituan reports that it serves around 400 and 60 million users, and supports 6.3 million merchants for services such as hotel and flight bookings, online retail and other new services.

As well as generating more demand overall, consumers are growing more familiar with new technology such as Machine Learning (ML) and digital assistants and so are looking for online platforms that integrate these capabilities.

Huawei offers business the opportunity to create a more seamless services for their customers

With more food outlets and online e-commerce platforms rising to the challenge of using mobile-based online delivery services to reach more customers, competition is rife. Ordering food and necessities online offers consumers the chance to save time and energy, with an often-huge selection of different choices available to them at the swipe of finger. Huawei assistance provides the technology needed to stay competitive and relevant within this market. To start, it provides consumers with more direct access to local restaurants and food outlets, as well as connect with e-commerce platforms; they can swipe through the different choices hassle-free.

The same technology is used to provide regular food and delivery updates and notifications, as well as giving users the chance to make direct reservations and bookings to visit nearby restaurants. This extends to online e-commerce shopping and delivery as well. Without the need to exit the platform, Huawei users can order a taxi to the restaurant, use the same payment details and even follow direct guidance on restaurant entrances to help to navigate to the exact, accurate location. Compared with the traditional GPS positioning error of 10 metres, Huawei Assistance can achieve a positioning error margin of only one metre.

The opportunities don’t end there, however, as Huawei’s ML Kit can also be integrated to help quickly identify online coupons for those wishing to order from their favourite restaurants. Beyond the world of food delivery and eating out, Huawei Assistance also helps other lifestyle vendors to grow their business through technology. Huawei assistant can even recommend flights and hotels to its users, covering travel, lifestyle, entertainment, work and family scenarios.

Huawei technology helps businesses champion new technology to succeed

Over the next few years, the need for on-demand Home Services will continue to grow, offering the businesses that are able to adapt great potential and opportunities.

In order to succeed, businesses who first focus on scale and efficiency will take the lead, clearly able to demonstrate their adaptations to their existing customer base as well as reaching new individuals. The accelerated change seen throughout 2020 has shown this, how those businesses able to adapt to the change in consumer lifestyle can thrive.

As the online lifestyle and food delivery industry continues to grow, Huawei is committed to helping businesses of all shapes and sizes keep up with the ongoing changes in the sector and champion new technology to succeed in today’s progressively online world. 

Gavin Kinghall Were, VP, Global Head of BD Solutions at Huawei, discussed the topic in detail during Huawei’s #EmpowerInnovations masterclass, ‘Empowering lifestyle, with Huawei AppGallery’ on 3 December, as part of the annual Web Summit tech conference. The session can be viewed here: https://consumer.huawei.com/en/partners/videolibrary/lifestyle-websummit/

PR Newswire

CooTek to Participate in December and January Investor Conferences

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SHANGHAI, Dec. 4, 2020 — CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), a fast-growing global mobile internet company, today announced that the Company will present and meet with institutional investors at the following virtual investor conferences. For more information on CooTek presentations, please visit investor relations website https://ir.cootek.com, or contact ir@cootek.com.

  • ICA BEST of Asia Discovery Conference on Thursday, December 10, 2020, HKT.
  • ICA Insight Series
    Presentation on Tuesday, December 22, 2020, HKT.
    Registration: https://rb.gy/ypgtaf
  • Needham Growth Conference 2021
    Presentation on January 11, 2021, EDT.
  • ICR Conference 2021
    Presentation on January 11-14, 2021, EDT.

The Company’s management will participate in virtual meetings with institutional investors throughout these events. For additional information, please contact your respective institutional sales representative at each sponsoring bank.

About CooTek (Cayman) Inc.

CooTek is a fast-growing mobile internet company with a global vision, offering mobile applications. Our mission is to empower everyone to enjoy relevant content seamlessly. The Company’s user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users’ ever-evolving content needs and helps it rapidly attract targeted users. CooTek has developed and brought to market content-rich mobile applications, focusing on three categories: online literature, scenario-based content apps and casual games.

For more information on CooTek, please visit https://ir.cootek.com.  

For more information, please contact:

CooTek (Cayman) Inc.
Mr. Robert Cui
ir@cootek.com  

ICA (Institutional Capital Advisory)
Mr. Kevin Yang
Phone: +86-021-8028-6033
E-mail: cootek@icaasia.com

Related Links :

https://ir.cootek.com