All American Pet Company To Acquire Kuora In 200 Million Transaction
All American Pet Company, Inc. (AAPT) announces its acquisition of Kuora Industrial Interconnect Limited for USD 200 million. Kuora, established in 2018, is an e-technology platform that connects users with industrial technical experts. The platform has approximately 200,000 users and has seen increased demand for expertise due to the COVID pandemic. The acquisition is expected to enhance AAPT's position within the gig economy. Financial details will be disclosed post-acquisition, which is anticipated to conclude by month's end.
- Acquisition of Kuora expands AAPT's portfolio in the growing gig economy.
- Kuora has reached 200,000 vertical users and 3,000 enterprises, indicating a strong user base.
- The market for industrial technical expertise is largely underserved, presenting growth opportunities.
- None.
Las Vegas, Nevada, Sept. 24, 2021 (GLOBE NEWSWIRE) -- All American Pet Company, Inc. (OTC Pink: AAPT) ("AAPT" or the "Company") a Nevada holding corporation actively pursuing acquisitions announces it will be acquiring Kuora Industrial Interconnect Limited (“Kuora”) in a USD 200 Million transaction.
The Company is pleased to announce it is in the final stages of the acquisition process of its target candidate: Kuora Industrial Interconnect Limited. (“Kuora”).
Established in 2018, Kuora is an online services e-technology platform that connects companies and individuals looking for industrial technical expertise. Kuora’s revenues stem from B2B, B2C and C2C transactions on its e-technology platform. To date, Kuora’s platform has reached approximately 200,000 vertical users, over 1,000 experts and more than 3,000 enterprises.
In the wake of the COVID pandemic, access to labor, and more so industrial technical expertise, has become harder than ever. While the model for platforms such as Kuora is not new, the need for more flexible access to professionally qualified technical experts has grown exponentially. Kuora prides itself in currently being in a subset of the industry where there has historically been a skill gap.
Kuora’s Questions & Answers portal with a technical service user base is best described as the next iteration of a combined Quora, Upwork and Zhihu. Companies and individuals are able to post technical questions within a portal and then connect and hire professionally qualified technical experts, providing solutions both online and offline.
Current revenues of Kuora as well as projected revenue for the next year will be discussed following the closing of the acquisition, which is planned to be finalized before the end of the month.
"Kuora is positioned to be a key player in the Gig Economy. The niche it operates in is largely underserved. The geographic market is still unsaturated and as such, there is a significant growth within the Asian market without even including future planned markets. It is also an incentivized industry in the geographical region it currently operates in”, commented David Chong, Chief Financial Officer of All American Pet Company.
About All American Pet Company, Inc.
About All American Pet Company, Inc. a Nevada holding corporation actively pursuing acquisitions. All American Pet Company, Inc. is an OTC Markets listed issuer and trades under the ticker symbol "AAPT".
For more information about the Company visit:
Our OTC Markets Profile: https://www.otcmarkets.com/stock/AAPT/overview
Our website is: https://aaptmerger.com
Our Twitter account is: https://twitter.com/AAPTCo
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE: All American Pet Company, Inc.
All American Pet Company, Inc.
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