Zoomd Technologies Announces Appointment of Ido Almany as CEO

Rhea-AI Summary

Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) announces the appointment of Ido Almany as CEO, effective December 8, 2022. Almany succeeds Ofer Eitan, who was CEO since the 2017 merger with Moblin. Almany brings significant experience, including a successful tenure at American Express in Israel, generating US$140M in annual revenue. He aims to leverage his expertise to drive growth and strengthen Zoomd's market position. In connection with his appointment, Almany received 3.16 million stock options with performance and time vesting conditions.

Positive

• Ido Almany's appointment is expected to bring fresh perspectives and strategic growth.
• Almany has a proven track record of generating substantial revenue growth.

Negative

• Transitioning leadership may present continuity risks as the company adjusts to new management.

VANCOUVER, British Columbia, Dec. 8, 2022 /PRNewswire/ -- Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) and its wholly-owned subsidiary Zoomd Ltd. (collectively, "Zoomd" or the "Company"), the marketing technology (MarTech) user-acquisition and engagement platform, is pleased to announce the appointment of Ido Almany as the new CEO of the Company. Ido Almany will succeed Ofer Eitan, who in July of 2022, previously announced that he was stepping down as CEO once a suitable successor has been identified. Mr. Eitan, a Co-founder of the Company, has been the Company's CEO since its merge with Moblin in 2017 and will remain a director of the Company.

Mr. Almany will be joining Zoomd after half a decade of leading American Express in Israel as its General Manager, and the CEO of the local exclusive licensee, Premium Express LTD.  Mr. Almany charted a new strategic direction for Amex in Israel, developed new distribution channels and partnerships, and revitalized the product offering, creating sustainable and high-margin growth amounting to US$140M in annual revenue. Mr. Almany also served as a management team member for the Isracard Group, Premium Express' parent company and the largest payments company in Israel, taking part in the Group's successful IPO in 2019.

Prior to joining American Express in Israel, Mr. Almany was the Head of Digital Products and Business Development for Discount Bank, one of the largest banks in Israel, Head of Fintech and Innovation for Discount Bank, and a strategy consultant for TASC Consulting & Capital.

"Ido has a proven track record of achieving growth targets", said Ofer Eitan, "Zoomd's journey is now at the stage of continuing growth and strengthening the Company's current advantages in the marketplace and product offering. We welcome Ido with huge applause, big expectations, and are certain that he will continue the path of success while reaching new milestones for the Company."   

"Ido brings to Zoomd a strong combination of experience with growing technology businesses through partnerships and an established track record in driving profitable revenue growth" commented Amit Bohensky, Chairman of the Board of Directors of Zoomd. "We look forward to leveraging his wide business experience in technology and capital markets as Zoomd progresses in its efforts to become a market leading tech company".

Mr. Almany holds a BSc in Industrial Engineering and Management with honors (summa cum laude), from the Technion – Israel Institute of Technology.

Mr. Almany commented, "I am thrilled to be joining Zoomd as its new CEO. I am grateful for the Board of Directors' support and confidence in me. I am excited to bring my experience and expertise to Zoomd and am certain that together with the capable and dedicated Zoomd team we can continue to grow and thrive."

In connection with his appointment as the Company's new CEO, Mr. Almany was granted 3,164,071 stock options pursuant to the Company's stock option plan approved by the Company's shareholders on August 5, 2020. The options have an exercise price of C$0.13 per share (being the closing price of the Company's shares on the day prior to the grant date, adjusted to reflect the maximum permitted discount), and will expire five years from their grant date. 1,318,363 options are subject to performance vesting conditions, with the remaining options being subject to time vesting conditions over a three year period from Mr. Almany's start date.

About ZOOMD

Zoomd (TSXV: ZOMD) (OTC: ZMDTF), founded in 2012 and began trading on the TSX Venture Exchange in September 2019, offers a site search engine to publishers, and a mobile app user-acquisition platform, integrated with a majority of global digital media, to advertisers. The platform unifies more than 600 media sources into one unified dashboard. Offering advertisers, a user acquisition control center for managing all new customer acquisition campaigns using a single platform. By unifying all these media sources onto a single platform, Zoomd saves advertisers significant resources that would otherwise be spent consolidating data sources, thereby maximizing data collection and data insights while minimizing the resources spent on the exercise. Further, Zoomd is a performance-based platform that allows advertisers to advertise to the relevant target audiences using a key performance indicator-algorithm that is focused on achieving the advertisers' goals and targets.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer IN REGARD TO Forward-looking statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect Zoomd's future success and the ability of Mr. Almany to successfully grow the Company.  Forward-looking statements are based on our current assumptions, estimates, expectations and projections that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, technological, legal, privacy matters, political and social uncertainties (including the impacts of the COVID-19 pandemic), the extent and duration of which are uncertain at this time on Zoomd's business and general economic and business conditions and markets. There can be no assurance that any of the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.

The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.

For further information please contact:

Company Media Contacts:
Amit Bohensky
Chairman
Zoomd
ir@zoomd.com 
Website: www.zoomd.com 

Investor relations:
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
ZOMD@lythampartners.com

Logo: https://mma.prnewswire.com/media/1039696/Zoomd_Logo.jpg

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SOURCE Zoomd Technologies Ltd.

FAQ

Who is the new CEO of Zoomd Technologies as of December 2022?

Ido Almany has been appointed as the new CEO of Zoomd Technologies.

What was Ido Almany's previous role before joining Zoomd Technologies?

Ido Almany was the General Manager of American Express in Israel.

What significant revenue did Ido Almany generate at American Express?

Ido Almany generated US$140M in annual revenue during his leadership at American Express.

What stock options were granted to Ido Almany upon his appointment?

Ido Almany was granted 3,164,071 stock options with an exercise price of C$0.13, subject to vesting conditions.

What was the role of Ofer Eitan in Zoomd Technologies prior to this change?

Ofer Eitan was the CEO of Zoomd Technologies since its merger with Moblin in 2017 and will remain a director.