Alfi Announces Digital Advertising Tablet Rollout in Rideshare Vehicles in Austin and Las Vegas and 2.0 Driver Portal

Rhea-AI Summary

Alfi announces the rollout of its AI-enabled digital tablets for rideshare drivers in Austin and Las Vegas, following successful deployments in 14 U.S. cities.

The company has launched a revised driver portal for improved payment and service management across all markets. Increased advertising demand is noted, driven by partnerships and events like SXSW and the NFL Draft. Out-of-home advertising revenue rose 38% in Q3 2021, with digital OOH growing by 56%, presenting a favorable environment for Alfi's solutions.

Positive

• Expansion into Austin and Las Vegas enhances market presence.
• Successful deployment in 14 markets indicates operational capability.
• Increased advertising demand from agencies signifies robust market interest.
• Recent upgrades to the driver portal improve user experience and payment processing.
• Rideshare audience demographics are attractive for advertisers, with high engagement rates.

Negative

• None.

Intelligent digital tablets now in 16 major U.S. markets with plans for two more cities in late Q12022
Driver portal version 2.0 launched to support payment, monitor activity, and manage service
Growing scale of Alfi digital tablets driving increased advertising demand from agencies and brands

MIAMI BEACH, FL / ACCESSWIRE / February 22, 2022 / Alfi (NASDAQ:ALF) ("the Company"), an AI enterprise SaaS advertising platform, announced today plans to commence the rollout of its AI-enabled intelligent tablets to rideshare drivers in two major U.S. markets, Austin and Las Vegas. The Company has initiated the next phase of its digital tablet installations in rideshares after having successfully deployed in 14 major U.S. cities, established a partnership with a major programmatic exchange, Vistar Media, and in response to an increasing demand from agency and direct advertisers for Alfi's Digital Out-of-Home (DOOH) technology that can provide effective insights and analytics in a privacy-compliant manner. Alfi has also launched an upgraded version of its driver portal to provide enhanced support and facilitate ease of payment to rideshare drivers across all 16 markets.

"Alfi's SaaS computer vision with machine learning technology goes well beyond geo-targeted ads by providing ride-sharing audiences real-time curated adsusing contextual targeting powered by AI to get the right ads in front of the right people at the right time, said Ron Spears, Alfi Chief Revenue Officer. "Such personalized experiences strengthen customer loyalty and relationships and help brands improve their ROI. With the next phase of our intelligent tablet deployment underway and the establishment of critical mass of digital tablets in our first 14 markets, brands can access our technology to optimize the performance of their campaigns and create compelling and dynamic customized content in real-time to our growing rideshare audience."

Rideshare Audience Represents Attractive and Growing Demographic for Advertisers

• Nearly 90% of riders are between the ages of 18 and 44.
• Approximately 52% are highly engaged millennials between the ages of 25 and 34.
• Riders have an average household income of more than $90K.
• Average rideshare trip is 23 minutes.

Sources: https://news.gallup.com/poll/237965/snapshot-uses-ride-sharing-services.aspx; http://www.schallerconsult.com/rideservices/automobility.pdf

For brands and content providers, rideshares represent a fast-growing advertising marketplace that is complicated by the narrow window of connection with a consumer on the go. Alfi can provide brands valuable insights into audience data-driven experiences, audience matching, and analytics.Additionally, being able to measure how a campaign performs allows advertisers to put their dollars where it matters most. Utilizing Alfi's machine learning analytical approach to advertising, brands now have powerful tools to analyze vast amounts of information to proactively take steps in real-time that will positively impact their campaigns.

Key Events Driving Increased Advertising Demand in Austin and Las Vegas:

• Austin: South by Southwest (SXSW)
• Las Vegas: NFL Draft, Grammys, Return of Conventions and NFL Super Bowl 2023

Alfi is actively engaged with both brands and agencies eager to utilize its AI-powered tools to better serve relevant ads and information to users at these upcoming events.

"Since commencing our initial digital tablet rollout, we have focused our technical and service teams on refining our driver communications and payment platform while building our pipeline of advertisers. With the recent launch of our enhanced driver portal, the scaling of our presence in the rideshare market, and growing interest from advertisers to utilize our platform, now is the right time to begin our next phase of deployment," said Peter Bordes, Alfi Interim CEO and Board Member. "As more DOOH dollars transact programmatically in 2022, buyers and sellers will increasingly demand to understand - at the individual transaction level and for all transaction types - the end-to-end economics. Alfi answers this challenge with its computer vision AI machine learning technology that delivers audience matching and performance measurement capabilities, allowing advertisers to leverage data, measurement and precision in their DOOH advertising campaigns."

Out of Home Digital Advertising Growth Leading the Way

Out of home (OOH) advertising revenue increased 38 percent in the third quarter of 2021 compared to the previous year, accounting for $1.75 billion, based on figures released by the latest Out of Home Advertising Association of America (OAAA) OOH Ad Revenue Report findings.

Digital OOH is leading the industry's recovery, and the segment jumped 56 percent compared to Q3 2020. Year-to-date, OOH ad revenue totals $5.1 billion which is an increase of 10 percent over 2020. The growth in OOH advertising revenue, particularly digital, supports recent research findings from Alfi showing the following:

• 96% of senior advertising executives believe data from DOOH ads is fueling greater ad campaign creativity and enabling brands to engage with an even more defined audience
• 58% state the quality of the evaluation/measurement tools available is ‘very important' (e.g., who was receptive to an advertisement, how it was received, and how it affects the behavior of an individual as they go about their daily lives)
• 55% say the ability to deploy campaigns with ultimate flexibility and immediacy - by the day or even the hour - due to the detail OOH technology provides- is also ‘very important' in driving growth in the DOOH market.

Brands can click https://www.getalfi.com/presentations/to learn more about Alfi's Marketing Solutions. Drivers can click https://app.getalfi.com/ for access to the new driver portal or click https://drivers.getalfi.com/ for information on how to join the Alfi rideshare network.

About Alfi Inc.

Alfi, Inc. provides solutions that bring transparency and accountability to the digital out-of-home advertising marketplace. Since 2018, Alfi, Inc. has been developing its artificial intelligence advertising platform to deliver targeted advertising in an ethical and privacy-conscious manner. For more information, please visit: https://www.getalfi.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Alfi Inc. Investor Relations

TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com

Alfi Inc. U.S. Media Contacts

Danielle DeVoren / Jenny Robles
KCSA Strategic Communications
Alfi@kcsa.com

SOURCE: Alfi Inc.

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FAQ

What new markets is Alfi expanding into with its digital tablets?

Alfi is expanding into Austin and Las Vegas with its digital tablets for rideshare drivers.

What recent updates have been made to Alfi's driver portal?

Alfi has launched an upgraded driver portal version 2.0 to support payment processing and monitor activity.

How has demand for Alfi's advertising technology changed?

There is increased advertising demand from agencies and brands seeking to utilize Alfi's digital out-of-home (DOOH) technology.

What are the key events driving advertising demand in Austin and Las Vegas?

Key events driving demand include South by Southwest (SXSW) in Austin and the NFL Draft and Grammys in Las Vegas.

What is the significance of the recent growth in out-of-home advertising revenue?

Out-of-home advertising revenue increased by 38% in Q3 2021, indicating a strong recovery and growth opportunity for Alfi's business.