Zoomd Technologies (TSX-V: ZOMD) (OTC: ZMDTF) a growing leader in the marketing technology industry has announced that through the company’s wholly-owned subsidiary Zoomd Ltd., ZOMD will be increasing its customer base of its marketing platform as it targets small and medium businesses. ZOMD will be opening its user-acquisition campaign management system to small and medium businesses which will give these SME’s exposure to over 600 media channels through over 200 million devices. Amit Bohensky, Co-Founder and Chairman of ZOMD stated "We are excited to open up the opportunity to small and medium businesses to use our wide-reaching and objective-enabling dashboard,". Mr. Bohensky further stated “Our platform's flexibility and wide-reaching nature will allow app-based, SME digital marketers to realize their goals, opening up new horizons for Zoomd in the app business community”. This is a strategic move by ZOMD to increase its already strong revenues of $36 Million per year as the company will acquire more customers for its platform and add to its robust client list which include McDonalds, Etoro, NordVPN, PokerStars and more.
According to a collaborative report on the Martech industry by BDO, WARC and the University of Bristol, the report has highlighted that the marketing technology market is expected to reach $121.5 billion globally. In addition to the report, they stated that companies in the United Kingdom and North America are spending approximately 26% of their budgets on marketing technology and “Martech spend has almost doubled in just two short years in more developed markets such as North America and the UK”.
We first brought ZOMD to investors on May 19th 2020 in our article titled “Zoomd Technologies: From Start up to Blue-Chip Clients” at $.32 cents, and in the following weeks, ZOMD rose 115% hitting $.69 cents on June 9th 2020. Since then shares of ZOMD drifted downward on lower volume, however ZOMD is trading at what we believe is a discounted valuation since ZOMD is trading at a market cap of $26.1 Million with revenues of CAD $36 million per year. With additional customers set to be on boarded in the coming weeks and months, ZOMD is a great opportunity to invested in a growing technology company on a great discount.
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