VERB Technology Highlights Favorable Livestream E-Commerce Trends in Recent Conference and Investor Presentations

Rhea-AI Summary

VERB Technology Company (NASDAQ: VERB) showcased its livestream ecommerce tool, verbLIVE, at two recent virtual conferences. CEO Rory J. Cutaia highlighted shifting consumer behaviors and the potential for livestream shopping in the U.S., drawing comparisons to China's booming market. Notably, livestream influencers generated substantial sales during events like Singles Day. VERB's platform aims to enhance customer engagement and drive sales conversion rates with interactive technology. The company anticipates growth in the livestream direct selling sector, bolstered by pandemic trends.

Positive

• VERB's verbLIVE platform capitalizes on the increasing trend of livestream shopping in the U.S.
• Successful presentations at VirtualInvestorConferences.com and A.G.P.'s Virtual Emerging Growth Technology Conference.
• Potential for significant sales growth as seen in China's successful livestream shopping events.
• Interactive features of verbLIVE enhance customer engagement and drive sales.

Negative

• Risks associated with competition and market conditions may affect future performance.
• Dependence on consumer behavior shifts due to the pandemic creates uncertainty.

verbLIVE, VERB’s best-in-class livestream ecommerce and webinar tool, positions the company to capitalize on changing shopping trends and consumer behavior, accelerated by the pandemic

NEWPORT BEACH, Calif. and SALT LAKE CITY, Feb. 08, 2021 (GLOBE NEWSWIRE) -- VERB Technology Company, Inc. (NASDAQ: VERB) ("VERB" or the "Company"), a leader in interactive video-based sales enablement applications, including interactive livestream ecommerce, webinar, CRM and marketing applications for entrepreneurs and enterprises, today recapped successful presentations at two virtual events last week. Rory J. Cutaia, CEO of VERB, presented its sales enablement software-as-a-service platform at VirtualInvestorConferences.com, a live, interactive online event. The February 4 presentation is now available as an archived webcast here. Additionally, Mr. Cutaia had a full day’s schedule of one-on-one meetings with institutional investors at A.G.P.’s Virtual Emerging Growth Technology Conference.

At these events, Mr. Cutaia discussed the rapidly changing consumer behavior and online shopping trends. Specifically, he cited the ecommerce transformation in China, which is leading the world in the adoption of livestream shopping. On Singles Day (or “Double 11”) in 2019, the largest annual shopping festival in China held on November 11, leading social media influencer Li Jiaqi generated over $145 million in sales by livestreaming and spending only five minutes on each product. In 2020, Li Jiaqi and Viya, another top livestream influencer, kicked off the festival at midnight on October 21 and together generated $1.2 billion in sales for that evening alone. Another sales window took place from November 1 to 3, with the main event on November 11. From November 1 to November 11, ecommerce giants Alibaba and JD.com also reported combined sales of approximately $115 billion during the event.

Mr. Cutaia highlighted that the U.S. is primed for a similar livestreaming sales explosion, and that VERB’s sales enablement platform positions the Company to capitalize on this growth, as it provides the unique technology and infrastructure for both enterprises and individuals to conduct livestreamed selling events. verbLIVE, a powerful and easy-to-use livestream ecommerce application, allows viewers to directly engage with retailers during the session through clickable in-video icons to buy, receive additional product information, set up appointments, and other customizable interactive features. The app creates a friction-free, video-based setting to increase customer engagement and drive sales conversion rates, while offering real-time viewer interaction analytics.

“During last week’s conferences, I am truly excited to see the positive investor and audience response to our solutions platform and the favorable trends supporting industry growth,” said Mr. Cutaia. “Our applications are ideal tools for livestreamed direct selling, which we expect will grow in popularity, driven by the pandemic. We are also seeing social media influencers increasingly play a role in this transformation, as their millions of followers form an immediate audience for an event. Being able to create engagement, and not just track it, sets the VERB platform apart from other sales tools. Looking ahead, we’re seeing clear signals for the rapidly emerging convergence of entertainment and ecommerce, think “shoppable entertainment,” and we intend to apply our technology to usher in this new paradigm shift. It should be an exciting year for ourselves and our shareholders.”

About VERB
VERB Technology Company, Inc. (Nasdaq: VERB) transforms how businesses attract and engage customers. The Company’s Software-as-a-Service, or SaaS, platform is based on its proprietary interactive video technology, and comprises a suite of sales enablement business software products offered on a subscription basis. Its software applications are available in over 60 countries and in more than 48 languages to large enterprise and small business sales teams that need affordable, easy-to-use, and quick-to-get-results sales tools. Available in both mobile and desktop versions, the applications are offered as a fully integrated suite, as well as on a standalone basis, and include verbCRM (Customer Relationship Management application), verbLIVE (Interactive Livestream eCommerce and Video Webinar application), verbTEAMS (a Self On-boarding version of verbCRM with built-in verbLIVE and Salesforce synchronization for small businesses and solo entrepreneurs), and verbLEARN (Learning Management System application). The Company has offices in California and Utah. For more information, please visit: www.verb.tech.

FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements that involve risks and uncertainties, including statements about the closing of the offering of common stock. These forward-looking statements involve risks and uncertainties. If any of these risks or uncertainties materialize, or if any of our assumptions prove incorrect, our actual results could differ materially from the results expressed or implied by these forward-looking statements. These risks and uncertainties include risks associated with: the COVID-19 pandemic and related public health measures on our business, customers, markets and the worldwide economy; our plans to attract new customers, retain existing customers and increase our annual revenue; the development and delivery of new products, including verbLIVE; our plans and expectations regarding software-as-a-service offerings; our ability to execute on, integrate, and realize the benefits of any acquisitions; fluctuations in our quarterly results of operations and other operating measures; increasing competition; general economic, market and business conditions; and the risks described in the filings that we make with the Securities and Exchange Commission (“SEC”) from time to time, including the risks described under the headings “Risk Factors” and “Management Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K, which was filed with the SEC on May 14, 2020, as amended by Amendment No. 1 on Form 10-K/A to our Annual Report on Form 10-K, which was filed with the SEC on June 4, 2020, and which should be read in conjunction with our financial results and forward-looking statements contained therein, and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, which was filed with the SEC on November 16, 2020, which should be read in conjunction with our financial results and forward-looking statements contained therein. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Investor Relations Contact:
888.504.9929
investors@verb.tech

Media Contact:
855.250.2300, ext.107
info@verb.tech

FAQ

What is verbLIVE and how does it work?

verbLIVE is a livestream ecommerce and webinar tool that allows users to engage directly with retailers and purchase products during live sessions.

How much sales did influencers generate during China's Singles Day event?

During the Singles Day event in 2020, influencers generated $1.2 billion in sales.

What challenges does VERB face in the current market?

VERB faces challenges related to competition and changing market conditions, especially influenced by the pandemic.

What was discussed during VERB's recent virtual conferences?

CEO Rory J. Cutaia discussed the potential for livestream shopping in the U.S. and highlighted the successes seen in China.

How does verbLIVE enhance sales conversion rates?

verbLIVE enhances sales conversion rates through interactive features that engage viewers and allow for real-time analytics.