CloudCommerce Rapidly Transforming into a Tech Company
CloudCommerce, Inc. (CLWD) announced a significant capital infusion that will enable the transformation of its AI-driven SWARM solution into a fully functioning software as a service (SaaS) platform. CEO Andrew Van Noy emphasized the shift from traditional advertising to a technology-focused model, aiming to optimize digital marketing with data-driven campaigns. The company plans to leverage this transition by seeking acquisitions and partnerships while continuing to provide high-performing advertising solutions to clients. CloudCommerce is also pursuing a name change to AiAdvertising, Inc.
- Capital infusion will facilitate the development of the AI-driven SWARM solution into a SaaS platform.
- The shift towards a technology-driven business model can enhance operational efficiency.
- SWARM's effectiveness in digital advertising promises to reduce advertising costs by up to 50%.
- Transitioning from traditional services may present operational challenges.
- Future success depends heavily on securing acquisitions and licensing partners.
The recent infusion of additional capital allows the Company to acquire, license and internally develop the technology needed to transform its AI-driven SWARM solution into a fully functioning, AI-driven software as a service (SaaS) platform
SAN ANTONIO, April 20, 2021 (GLOBE NEWSWIRE) -- CloudCommerce, Inc. (CLWD), a technology driven provider of digital advertising solutions, today announced that its recent infusion of additional capital allows the Company to acquire, license and internally develop the technology needed to transform its AI-driven SWARM solution into a fully functioning, AI-driven software as a service (SaaS) platform.
“We are rapidly transforming our business from a traditional advertising agency services provider into a true technology driven company,” said Andrew Van Noy, CloudCommerce CEO. “While we are extremely pleased that our SWARM solution continues to deliver advertising results beyond client expectations, our dream was always to develop SWARM into a fully functioning software as a service (SaaS) platform. Our recent infusion of additional capital allows us to begin the process of turning that dream into a reality.”
Successful B2B companies like Salesforce, Snowflake and Square use the SaaS model to sell software to other businesses as a service. These cloud-based services help organizations run more efficiently or automate internal functions. Many businesses rely on these services to optimize their marketing, sales, customer service, and operations efforts. Once established in the marketplace, SaaS companies usually benefit from exceptionally high gross profit margins.
“Our AI-driven SWARM solution struck a raw nerve in the advertising industry,” Mr. Van Noy continued. “Today, more than half of all advertising dollars spent in the U.S. are spent on digital forms of advertising. As a result, successful campaigns must be data driven. However, waste and inefficiency still persist. To reduce advertising costs by as much as
Mr. Van Noy concluded,” Our plan is to use the agency services side of our business to continue offering our SWARM solution to major brands, while at the same time developing SWARM into an AI-driven SaaS platform. We are aggressively searching for acquisitions, licensing partners and talent that can help us achieve this goal. Our pending corporate name change to AiAdvertising, Inc., will help make our intentions clear.”
For more information about AiAdvertising, please visit the Company’s new website at www.AiAdvertising.com.
About CloudCommerce
CloudCommerce is a technology driven provider of digital advertising solutions. Our flagship solution, SWARM, analyzes a robust mix of audience data to help businesses find who to talk to, what to say to them, and how to market to them. We do this by applying advanced data science, behavioral science, artificial intelligence, and market research techniques to discover, develop and create custom audiences for highly targeted digital marketing campaigns. For more information about the Company, please visit www.CloudCommerce.com.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual report on Form 10-K for the year ended December 31, 2019. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Press Contact:
CloudCommerce, Inc.
Tel: (800) 673-0927
communications@cloudcommerce.com
FAQ
What recent development has CloudCommerce announced regarding their SWARM solution?
How does CloudCommerce plan to transform its business model?
What is the expected impact of the capital infusion on CloudCommerce's operations?
What is the goal of CloudCommerce's upcoming name change to AiAdvertising, Inc.?
