Financial News

PaaS Stocks Boom as Demand from Small Businesses Increased

FN Media Group Presents Microsmallcap.com Market Commentary

 

New York, NY – September 13, 2021 – 91% of small businesses will engage in some form of digital marketing in 2021 in response to changing consumer behavior due to the COVID-19 pandemic. As small businesses seek to increase their digital marketing initiatives, they are turning to PaaS providers to increase their reach to consumers, thus pushing the demand for cloud-based services. In response, PaaS companies like Logiq Inc. (NEO:LGIQ) (OTCQX:LGIQ), Wix.com Ltd. (NASDAQ:WIX), Cardlytics (NASDAQ:CDLX), AcuityAds Holdings (NASDAQ:ATY), and Pinterest Inc. (NYSE:PINS) are providing tools and launching initiatives to support small businesses while providing value to shareholders and investors, as the PaaS market is expected to grow to $22.78 billion at a CAGR of 18.5% between 2021 and 2026.

 

Logiq Reports a Record Second Quarter as it Continues to Deliver Value to Customers

 

Ecommerce and fintech solutions provider Logiq Inc. (NEO:LGIQ) (OTCQX:LGIQ) reported a record second quarter with its revenues increasing sequentially by 3% to $8.3 million. Revenues from its Ecommerce marketing solution Data Logiq increased to 28.4% in Q2 2021 from 15.5% in Q2 2020.

 

The partnership with Mentalku in June was one of the operational highlights for Logiq. Through the partnership, Logiq will offer mobile payment services to driver license applicants across Indonesia. Logiq will integrate AtozPay™, its mobile payment solution, into Mentalku’s mobile app to make it easier for Indonesians to pay for the psychological tests required to obtain a driver’s license.

 

Logiq partnered with GumGum to provide Ecommerce marketers on Logiq Digital Marketing (LDM) platform with access to GumGum’s contextual intelligence solution, Verity™.

 

With Verity, Ecommerce marketers can take advantage of a powerful solution that scans an entire digital media environment to provide a clear understanding of the overall context through text, images, audio, and video.

 

Before the partnership with GumGum, Logiq expanded its LDM platform to bring affordable media buying to Asia Pacific. With this expansion, small and mid sized agencies and brands have access to international consumers in the APAC region.

 

In a comment about the expansion to APAC, LDM’s division president Manny Puentes said, “Our expanded reach to APAC with optimized time-to-delivery is another major value-add for our LDM clients, and reflects our ongoing efforts to further expand our global network.”

 

With this partnership, small and medium-sized agencies and brands can compete with large organizations at a fraction of the cost.

 

These Companies are Helping Small Businesses Build their Brands as they Recover From the Effects of the Pandemic

 

VisaPrint, a world leader in small business solutions for design, print, and marketing needs chose Wix.com Ltd. (NASDAQ:WIX), a SaaS provider, as the technology layer to help millions of VisaPrint’s customers to create, manage and grow their businesses online. The partnership will allow VisaPrint’s 17 million customers to utilize various tools on Wix to build their business brand and presence online and offline. This partnership also presents an opportunity for Wix to grow its subscriptions and work towards its goal of powering 50% of new things on the internet in the next five to seven years.

 

Digital advertising platform Cardlytics (NASDAQ:CDLX)  released its Q2 2021 financial results reflecting an increase in monthly active users to 167.6% million, a 7% increase from Q2 2020. With an increase in users came an increase in total revenue with Cardlytics reporting a 109% YoY increase to $58.9 million compared to $28.2 million in Q2 2020. The company’s average revenue per user for the quarter was $0.34, an 89% increase from Q2 2020 ($0.18). Cardlytics also recorded an increase of 111% in billings to $83.2 million while the Cardlytics platform revenues increased by 101% to $56.8 million.

 

AcuityAds Holdings (NASDAQ:ATY) also saw an increase in revenue for its 2021 second quarter. Acuity delivered total revenue of $30.3 million, a 54.9% increase YoY, and a 145% Adjusted EBITDA. The revenue growth was mainly due to the company’s advertising automation platform illumin which generated $5.2 million in Q2 2021, an increase of 60% from the first quarter. The company expects illumin to continue growing in the third quarter as the demand for the platform remains robust with its sales pipeline reflecting strong growth.

 

Pinterest Inc. (NYSE:PINS) has also shown its support for small businesses through collaboration with American Express to help small businesses through The Comeback Edit on Pinterest Shop. The Comeback Edit was developed to help Pinterest users support small businesses by featuring more than 20 merchants. Other than The Comeback Edit initiative, Pinterest also introduced new ways for creators to earn, partner with brands, and interact with their audiences in a positive environment.

 

Companies like Logiq continue to identify new ways to help small businesses and brands reach consumers by providing affordable services and tools to support their digital marketing initiatives.

 

For more information about Logiq Inc. (NEO:LGIQ) (OTCQX:LGIQ), click here.

 

DISCLAIMER: Microsmallcap.com (MSC) is the source of the Article and content set forth above.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

 

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Logiq Inc.

 

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

 

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

 

Media Contact:
FN Media Group, LLC
info@financialnews.com
+1(561)325-8757

 

Source: Microsmallcap.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • US News
  • Weather
  • State News
  • Events
  • Traffic
  • Sports
  • Dining Guide
  • Real Estate
  • Classifieds
  • Financial News
  • Fire Info
Feedback