Big Data - Wikisoft’s Big Vision

Rhea-AI Summary

Wikisoft Corp. (OTCQB: WSFT) has made significant strides since its inception in 2017, evolving into a key player in the big data technology sector. The company aims to support businesses worldwide by creating a comprehensive company information database. Notable highlights include the global big data market projected to grow from $41.33 billion in 2019 to $116.07 billion by 2027, and an expected $215.7 billion spending on business analytics solutions in 2021. Key executive Carsten Falk emphasizes the company's growth and strategic investments to maximize opportunities in this booming market.

Positive

• Secured a $20M Common Stock Purchase Agreement with White Lion Capital LLC.
• Uplisted to OTCQB in August 2021, enhancing visibility and liquidity.
• Launched an investor site and relaunched Wikiprofile platform to leverage big data.

Negative

• None.

SAN FRANCISCO, CA, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Wikisoft Corp. (the "Company," "we," and "our") (OTCQB: WSFT) -- In 2017, the fledgling Wikisoft had a big vision – help businesses large and small in a big way. Our founders’ goal was to create a company information database and then share the information to help small companies grow big.

Since then, the company has grown, added world class executives to the C-level team and invested heavily into Big Data technology to fulfill the founders’ vision. It seems the strategy was well-chosen. Here are three facts to justify it: 

1. The global big data technology market size was $41.33 billion in 2019 and is projected to reach $116.07 billion by 2027, at a CAGR of 14.0% in forecast period according to a report published by Fortune Business Insights, titled “Big Data Technology Market Size”.
2. According to International Data Corporation (IDC), worldwide spending on big data including business analytics (BDA) solutions is forecast to reach $215.7 billion this year and shows that BDA spending will gain strength over the next five years as the global economy recovers from the COVID-19 pandemic. The compound annual growth rate (CAGR) for global BDA spending over the 2021-2025 forecast period will be 12.8%. 
3. In 2020 the European Commission renewed its Data strategy (Communication: A European strategy for data 2020) and identified Data as an essential resource for economic growth, competitiveness, innovation, job creation and societal progress.

Former Domino´s CEO, Carsten Falk who took over just over a year ago commented: “The company has come a long way since the inception, in just the last year we have launched the Wikisoft investor site and relaunched our flagship Wikiprofile platform which uses big data to accelerate opportunities globally for businesses and business  professionals. We followed that entering into a Common Stock Purchase Agreement with White Lion Capital LLC for $20M and uplisted to OTCQB in August. We believe we are in the right business at the right time.”

In an in depth recent interview Proactive Group, Carsten Falk, Wikisoft’s CEO discusses how the company use the power of big data. Wikiprofile.com has a company data set exceeding 175 million business profiles that are continuously updated.

ABOUT WIKISOFT CORPORATION
In line with increasing globalization, we believe that there is a growing demand for access to credible company and employee information worldwide. Wikisoft's flagship online platform, Wikiprofile.com, aims to be a powerful solution with tools and resources for businesses and business professionals. Our vision is to create opportunity globally for business people and companies to make informed career and hiring decisions. Manifesting this vision requires scaling information technology with high data validity across the key pillars: business professionals, businesses, job opportunities and professional skills. By pursuing this vision, we believe Wikisoft Corp. can enable users to connect to business opportunities on a global scale. In line with increasing globalization, there is a growing demand for access to credible business and employee information worldwide.

FORWARD-LOOKING STATEMENTS
This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

CONTACT
WikiSoft Corp.
315 Montgomery Street, San Francisco,
CA 94104, USA
Phone: +1-800-706-0806
Email: investor@wikisoft.com
Investor site: www.wikisoft.com
SOURCE: WikiSoft Corp.
 

FAQ

What recent developments occurred at Wikisoft Corp. (WSFT)?

Wikisoft Corp. has launched an investor site, relaunched the Wikiprofile platform, and entered a $20M Common Stock Purchase Agreement with White Lion Capital LLC.

What is the current market outlook for big data technology according to WSFT's press release?

The global big data technology market is expected to grow from $41.33 billion in 2019 to $116.07 billion by 2027, indicating strong future potential.

How much is expected to be spent on business analytics in 2021 according to WSFT?

Worldwide spending on business analytics solutions is forecasted to reach $215.7 billion in 2021.

What leadership changes have occurred at Wikisoft Corp. recently?

Carsten Falk, former CEO of Domino's, has been leading Wikisoft Corp. for over a year, overseeing significant strategic developments.