VANCOUVER, British Columbia, Nov. 24, 2021 (GLOBE NEWSWIRE) — Fobi AI Inc. (FOBI:TSXV FOBIF:OTCQB) (the “Company” or “Fobi”), a leader in providing real-time data analytics through artificial intelligence to drive customer activation and engagement, is pleased to announce the Company has entered into a revenue share agreement with Caddle, the largest mobile-first insights marketplace app in Canada. The partnership agreement will benefit the Company by way of further advancing value in existing relationships and deliver potential new clients in the CPG & retail space while generating new product offerings for loyalty using Fobi’s mobile Wallet passes which complement Caddle’s suite of services.
FOBI TO GAIN ACCESS TO TIER 1 CLIENTS IN THE CPG & RETAIL SPACE
Caddle currently has relationships with several tier 1 CPG companies including Unilever, Nestle, and PepsiCo, as well as with Canada’s largest grocery chains and retailers such as Walmart, Loblaws, Sobeys and Canadian Tire. Fobi and Caddle will co-market their combined data solutions, wallet pass and coupon distribution services.
Caddle is a leading mobile-first data and insights platform that rewards its first-party panel members for sharing and engaging with brands. As a result, Caddle’s clients get access to data and insights faster, at larger scale, and more cost-effectively. Caddle’s solutions include custom and syndicated surveys, product trials, product reviews and receipt capture. The partnership delivers Fobi incremental Wallet pass downloads as Caddle adds more members to their panels to drive more insights into niche categories and new shopper segments.
Ransom Hawley, Caddle CEO stated: “We’re excited to work with Fobi and to be able to offer CPG and Retail brands the opportunity to access a richer data set for shopper insights, to drive new traffic, and to grow their market share. The importance of building a first-party data strategy is critical for all CPG’s and the combined value of what Caddle and Fobi collectively offer in a proven turnkey solution, solves this pain point for CPGs. We have already started mapping out the CPGs and retailers that we would like to target together, and I look forward to announcing our first deal together soon.”
FOBI AND CADDLE ARE WELL POSITIONED AS MARKETERS LOOKING TO DISCOVER MORE RELIABLE & BETTER FIRST PARTY DATA INTELLIGENCE SOURCES
Moving forward, with the decline of 3rd party data sets and tools, most CPGs are looking to build their own first-party data strategies. The drive for digital and data-based marketing is key right now for brands and retailers, and the opportunity is tremendous. Fobi and Caddle will work together to help brands collect, build and further optimize their first-party data strategy and platform.
The cost of third-party data is often very expensive and the data itself is sometimes unreliable, which is why 88% of marketers said that collecting first party data is a priority for 2021. The distinct advantage of first-party data ownership for CPG’s is the collection of consented, accurate, up-to-date and relevant customer insights. Shopper marketing programs can be better planned and executed with reliable shopper insights, beginning with the data collection and then extending to engagement and personalized marketing.
With the Fobi and Caddle agreement, joint first-party data collection will not only help CPGs reveal valuable insights, it will also reduce the cost of new customer acquisition, and help them focus on leveraging the spend of loyal customers. It will also enable marketers at Caddle’s large CPG clients to save time and money on value-add programs such as coupons delivered by Fobi’s recent acquisition Qples to increase shopping basket size informed by their customer’s spending habits and engage with them to promote new products and services. Fobi and Caddle will also be able to offer a “light” loyalty program to retailers and brands as the wallet passes can act as a loyalty card to offer programs or launch campaigns which can be redeemed and adjudicated through Caddle’s services.
Rob Anson, Fobi CEO stated: “We have partnered with some of the biggest names in the tech industry and I have been very impressed with the quality of product and level of service of which the team at Caddle has not just architected but executed and delivered to the market. The long list of Canada’s largest Retail and CPG customers simply speaks for itself. The launch of our combined solutions could not be better timed as the digital transformation push has now become front and centre for both brands and retailers and it has been very apparent in the reaction and interest in our early conversations that Retailers and CPG’s are actively looking for the best source and provider of consumer data intelligence and first-party data and I feel Caddle and Fobi collectively deliver that solution together.”
Caddle is one of the largest daily active member panels in the Canadian Market, with over 10,000+ daily active users, providing unmatched diversity as validated through third party providers. Caddle empowers brand and insight leaders to gain rapid access to data and insights from Canadians from all walks of life across the entire consumer journey, and to gain access to large Canadian representative samples and micro-niche audiences alike.
Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi’s unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.
For more information, please contact:
|Fobi AI Inc.||Fobi Website: www.fobi.ai|
|Rob Anson, CEO||Facebook: @ Fobiinc|
|T : +1 877-754-5336 Ext. 3||Twitter: @ Fobi_inc|
|E: [email protected]||LinkedIn: @ Fobiinc|
This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Fobi’s business and technology; the ability of Fobi to engage with industry participants to achieve its goals; the development of Fobi’s technology; and the viability of Fobi’s business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fobi’s control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Fobi believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Fobi does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Fobi should be considered highly speculative. There can be no assurance that Fobi will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.