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Venzee Technologies Inc. (TSXV: VENZ) has entered into a software right-of-use agreement with Digital Commerce Payments Inc. for CDN$4,250,000. This strategic partnership will enhance Venzee's e-commerce software offerings by acquiring the DCP Software, expanding market capabilities, improving management functionality, and providing AI-enabled product description recommendations.
The integration of the DCP Software is expected to automate the connection of retail channels within customer ERP systems, enable digital shelf capability, and offer multi-lingual and order information return features. The Purchase Price will be satisfied in Shares at CDN$0.22 per Share, resulting in the issuance of 19,318,182 Shares. DCP and its Joint Actors are expected to hold approximately 41.62% of the issued and outstanding Shares on a partially diluted basis following the completion of the Transaction.
Venzee Technologies announced the activation of its Mesh Connector™ for a major client in the home improvement sector. This marks significant growth in Venzee's SaaS revenue model, enhancing the efficiency of product data transmission to large retailers. The AI platform reduces data syndication time from half a year to just 30 days, leveraging over 400 available connectors. Venzee aims to capitalize on more than 7,000 pipeline opportunities, positioning itself as a leader in the automated retail data industry.
Venzee Technologies, operating under the ticker VENZF, reported strong performance in Q2 2021, selling 792 Mesh Connectors™—a 117 unit increase from Q1. Revenues surged 55% to $13,595 as more connectors were activated. The company has a robust pipeline with over 7,000 active sales opportunities, reflecting a 40% increase quarter-on-quarter. Despite these gains, Venzee faced a net loss of $932,917, compared to a loss of $397,252 in Q2 2020. The company also expanded its retail channels and appointed new leadership to facilitate growth.
Venzee Technologies announces a strategic partnership with a top Product Information Management (PIM) and Digital Asset Management (DAM) provider, enhancing its global presence and capabilities. This collaboration aims to leverage Venzee's AI-driven data syndication technology alongside the partner's established client base of over 700 brands in 175 countries. The partnership is anticipated to increase sales of Venzee's Mesh Connectors, facilitating efficient product data management and distribution. CEO John Sexton Abrams highlights the opportunity for rapid revenue growth through tailored solutions for diverse customer needs.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) announced it will release its Q2 2021 financial results on August 30, 2021. A conference call will follow on August 31, 2021, at 8:30 A.M. EST, hosted by CEO John Sexton Abrams and CFO Darren Battersby. Venzee, known for its AI platform for product data, aims to streamline supply chain processes. The company highlights its innovative Mesh Connectors™, enhancing automation in product information syndication to over 400 major retailers, advancing its mission to reduce friction in market distribution.
Venzee Technologies has appointed Joel Carstedt as Senior Director of Sales to enhance its sales department and accelerate growth. The company is focusing on developing strategic partnerships to boost revenue. Carstedt's extensive experience in sales and data synchronization software is expected to positively influence Venzee's ability to convert consumer brands into customers. Venzee's innovative Mesh Connectors™ aim to simplify the distribution of product information across retail and e-commerce platforms.
Venzee Technologies (TSXV:VENZ) (OTCQB:VENZF) is set to present at the SNN Network Summer Virtual Event 2021 on August 18 at 11:30 AM EST. CEO John Sexton Abrams will lead the presentation and engage with investors. Access the live event through a webcast link. The event will also offer opportunities for 1-on-1 investor meetings via secure video conference. Venzee's AI platform aims to streamline product data processes for global brands, enhancing supply chain efficiency and unlocking shareholder value.
Venzee Technologies Inc. (OTCQB: VENZF) announced a partnership with a major US retailer in the furniture sector, expanding its services to over 200 suppliers. This follows successful implementation of Venzee's Mesh Connector™ technology for a global brand, enhancing product data delivery. CEO John Abrams emphasized the potential for scaling operations through this partnership, describing the 'Venzee Network Effect' as a means to broaden its client base. The unique, machine-driven platform automates data distribution, streamlining supply chains and increasing efficiency.
Venzee Technologies Inc (OTCQB: VENZF) reported strong performance in Q2 2021, exceeding all quarterly Key Performance Indicators (KPIs). The company sold over 790 Mesh Connectors™, a 17% increase from Q1 2021, and achieved a 40% growth in its active sales pipeline with more than 7,000 opportunities. With a goal of 2,000 Mesh Connectors™ sold by year-end and forecasted monthly recurring revenue of $195,000, Venzee's client churn remains at zero. The company continues to expand its retail channels, enhancing its competitive advantage in the product data automation space.
Venzee Technologies Inc (TSX-V:VENZ, OTCQB:VENZF) will present live at VirtualInvestorConferences.com on August 5, 2021, at 2:00 PM ET. CEO John Sexton Abrams will lead the session, allowing real-time Q&A with investors. A recorded archive will be available post-event for those unable to attend live. Venzee offers AI-driven solutions to enhance product data management, optimizing supply chain processes for global brands.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) held its annual meeting on June 25, 2021, with 40,650,430 shares represented, accounting for 17.99% of the total shares. Shareholders approved all resolutions, including the re-election of the board of directors consisting of John Sexton Abrams, Peter Montross, Sean Copeland, Tom Linden, Marc Bertrand, and John Sviokla. Key appointments include John Sexton Abrams as CEO and Darren Battersby as CFO. Venzee's technology aims to streamline product data distribution for consumer brands, enhancing supply chain efficiency.
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What agreement did Venzee Technologies Inc. enter into with Digital Commerce Payments Inc.?
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