Infobird Co Ltd - IFBD STOCK NEWS

Infobird Co., Ltd (Nasdaq:IFBD) has entered a strategic partnership with SaSa Cosmetics (China) Co., Ltd. to enhance customer service and marketing in beauty retail. This marks a significant validation of Infobird's SaaS products in the retail sector. The Company anticipates 2021 revenue between $22 million and $25 million, projecting over 50% growth. The collaboration aims to optimize SaSa's customer interaction and management efficiency through mobile and data-driven solutions. Infobird's shift to standardized SaaS is gaining momentum, with plans to expand across various industries.

Infobird Software (Nasdaq: IFBD) has entered a cooperative agreement with China Electronic System Technology Co., Ltd. (CESTC) to enhance China's digital economy. This partnership will leverage Infobird’s AI-powered customer engagement solutions alongside CESTC’s expertise in digital city construction. The collaboration aims to integrate technologies like cloud call centers and intelligent quality inspection into digital economy initiatives, promoting technological advancement and resource interaction.

Infobird Co., Ltd (Nasdaq: IFBD) has filed its annual report on Form 20-F for the fiscal year 2020, revealing total revenues of approximately $14.5 million, a decline of 20.4% from 2019. This decrease is attributed to COVID-19's impact and a major customer changing its telemarketing strategy. Despite this, new clients in the finance and healthcare sectors contributed to revenue diversification. The company reported a net income of $4.1 million, down 20.4%, with a net profit margin of around 28%. Infobird aims to shift to standard cloud-based services, forecasting revenues between $22-$25 million for fiscal year 2021.

Infobird Co. Ltd. (NASDAQ: IFBD) highlights the challenges and opportunities in China's SaaS market, as they adapt their no-code platform to cater to both mid-to-large enterprises and SMEs. This strategy aims to balance customization needs against revenue stability. The company plans to expand its standardized SaaS modules following a successful IPO and positioning as a leading provider of AI-powered customer engagement solutions. Infobird aims to leverage its expertise in delivering tailored solutions for large banks to capture a broader market share.

Infobird Co. Ltd. (NASDAQ: IFBD) is highlighted in an editorial by NetworkNewsWire, focusing on the SaaS market in China. The country's cloud infrastructure spending rose from $107 billion in 2019 to $142 billion in 2020, marking over 32% growth in Q4 2020. Infobird aims to capture a significant share of this expanding SaaS market, which is currently fragmented with the top 10 vendors holding only 35% of the market. Infobird has extensive experience serving leading enterprises across various industries. For detailed information, visit this link.

Infobird Co., Ltd, a China-based software-as-a-service provider, has announced plans to file its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the U.S. SEC by May 15, 2021. The filing will include audited consolidated financial statements, which will be accessible on the SEC's website and Infobird's official site. This disclosure aims to maintain transparency regarding the company's financial performance and compliance with regulatory requirements.

WestPark Capital has successfully closed the initial public offering (IPO) for Infobird Co., Ltd, raising $25 million in gross proceeds by selling 6,250,000 ordinary shares on Nasdaq under the ticker symbol IFBD. The IPO included a 45-day option for underwriters to purchase an additional 937,500 shares. The SEC declared the registration statement effective on March 31, 2021. Infobird, a provider of AI-powered customer engagement solutions, is headquartered in Beijing and offers innovative services tailored for the Chinese market.

Infobird Co., Ltd has successfully closed its underwritten initial public offering of 6,250,000 ordinary shares at a price of $4.00 per share, raising $25 million in gross proceeds. The shares are now listed on The Nasdaq Capital Market under the ticker symbol IFBD. The offering was managed by WestPark Capital, which also holds an option to purchase an additional 937,500 shares to cover over-allotments. The registration statement for this offering was declared effective by the SEC on March 31, 2021.

Infobird Co., Ltd has announced the pricing of its initial public offering (IPO) of 6,250,000 ordinary shares at $4.00 per share, aiming for total gross proceeds of $25 million. The shares are set to begin trading on Nasdaq under the symbol IFBD on April 20, 2021, with the offering closing on April 22, 2021. Underwriters have a 45-day option to purchase 937,500 additional shares. The IPO registration was declared effective on March 31, 2021.