Company to position itself to benefit from an expected Post-COVID 23% growth in Indian online advertising, appoints Parthiban Vairamudi as India regional manager
Vancouver, British Columbia, March 25, 2021 – Zoomd Technologies Ltd. (TSXV: ZOMD, OTC: ZMDTF) and its wholly-owned subsidiary Zoomd Ltd. (collectively, “Zoomd” or the “Company“), the marketing tech (MarTech) user-acquisition and engagement platform, announced today that it has opened operations in India to promote its online advertising and user acquisition services.
The Company is also pleased to announce that it appointed Parthiban Vairamudi, an experienced digital and business development executive with more than 18 years of regional market experience, as Zoomd’s ‘Man on the Ground’ in India to leverage on the Indian and regional market opportunity. According to a report published by Business Standard in February 2021, the Indian ad spend is expected to rise by 23% in 2021 after experiencing a 21.5% drop in 2020. Zoomd seeks to position itself to benefit from the Indian market recovery in 2021 by purposefully expanding into the Indian market and offering its unique services there.
“India is a massive market,” says Ofer Eiten, CEO of Zoomd, adding “we wanted to collaborate with Indian publishers and advertisers for some time now and the strong market recovery we have seen in this quarter made it a final decision for us. We intend to onboard new customers and publishers over the course of the year and become a meaningful player in the Indian ad space. We welcome Parthiban to lead our efforts in this region.”
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 of India’s post-COVID growth rate, Zoomd being able to benefit from such growth, Zoomd’s successful expansion into the Indian market and its ability to attract customers and publishers. 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.
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