BEIJING, Dec. 27 2021 / PRNewswire / – Infobird Co., Ltd (Nasdaq: IFBD) (“Infobird” or the “Company”), a software as a service provider of innovative customer engagement solutions based on AI or intelligence artificial in China, today announced that it has entered into a capital transfer agreement to acquire a 51% stake in Shanghai Qishuo Network Technology Co., Ltd. (“Qishuo”). Qishuo is a consumer product and retail store digitization solutions provider to the retail footwear industry and major clothing brands. Qishuo’s core product, “Retail Rubik’s Cube”, empowers customers with the digital capability to better understand and improve operational and business performance. Qishuo’s Retail Rubik’s Cube has gained high recognition from its customers and the company has won the honor of “Best Retail Big Data Applications Practice Case in China“in 2018.
With several years of development, Qishuo has acquired an in-depth knowledge of retail store operations, especially in the clothing and footwear industry. Qishuo’s customer base includes several major clothing brands in China. Infobird believes that the acquisition of a 51% stake in Qishuo is an important complementary and synergistic strategic initiative and should allow Infobird to accelerate its expansion in the consumer products and retail sector. With the Qishuo transaction, Infobird plans to deliver more comprehensive and industry-specific SaaS solutions that focus on digitizing customer engagement and optimizing retail store operations.
Yimin wu, Managing Director and President of Infobird, said: “We believe that from China the consumer products and retail industry continues to have significant growth potential. Even though online shopping has experienced a period of rapid growth due to the changing shopping habits of consumers following the COVID-19 pandemic, physical stores are still considered a very important channel for consumers. companies to interact with customers and increase brand influence. Qishuo’s product, Retail Rubik’s Cube, offers an ideal solution for retailers who want to optimize the customer experience in their physical stores. By having a thorough understanding of customer store operations in from China Consumer products and retail industry, Qishuo aims to provide businesses with easy-to-use SaaS products that can provide in-depth insights on how to improve store performance and operations. With the integration of Qishuo, Infobird will also have the ability to offer a more comprehensive and industry-specific solution for customers, which will address both omnichannel customer engagement and digitized store operating solutions. We firmly believe that the era of digital transformation of from China the consumer products and retail industry are coming now and anyone who can bring real value to the market, can gain market share and create lasting barriers to entry. We are very excited about Qishuo’s expertise in the field, and believe that together we can accelerate our presence in the rapidly growing retail and consumer market. “
Gu Qi, Founder and CEO of Qishuo, said, “A company’s goal may change from time to time; however, the trend towards realizing data-driven value for businesses will not change. Data is the energy and power of the new economic age, and it is good business practice to use big data to empower the new retail industry. Based on our past experiences, many store management are primarily concerned with the results of their operations rather than the factors that could lead to the This is why our Rubik’s Cube Retail becomes very valuable to our customers. what is the result, we want to help our customers understand why and how. By performing multidimensional data analysis for store operation, our retail Rubik’s Cube is able to inform the store management team of what could have been improved based on operational data. We are very excited to join Infobird as we both share the same vision of delivering creative, value driven SaaS solutions to the consumer products and retail industry. We believe that Infobird’s international vision, strong technical capabilities and comprehensive product portfolio will provide us with strong support in the short and long term. We look forward to rapidly growing our business with Infobird and by leveraging Infobird’s technology, products and platforms, we believe more businesses will reap the benefits of our value-driven solutions. “
The integrated industry know-how of Infobird and Qishuo’s standardized SaaS solutions can provide a solid foundation for rapid expansion of business expansion in the consumer products and retail sector. After the acquisition, the combined company will have many more experiences in the industry and will be able to offer more products to optimize its existing standardized products to solve real business problems and create innovative solutions for better business results. Specifically, the combined company aims to support the growth initiatives of consumer and retail products businesses by strengthening omnichannel customer engagement, including customer marketing, customer acquisition and retention, and by improving and by optimizing the operations of physical stores. In addition, Infobird and Qishuo will work together on marketing campaigns, sales channels and customer resources to better seize cross-sell and up-sell opportunities.
Infobird, headquartered at Beijing, China, is a software-as-a-service provider of innovative AI-powered or enabled customer engagement solutions. The company’s mission is to enable businesses to have intelligent and personalized customer engagement solutions. Leveraging a self-developed cloud native architecture, AI and machine learning capabilities, patented voice over Internet protocol technologies, a codeless development platform and deep industry expertise, Infobird provides Holistic, value-driven customer engagement SaaS solutions to help businesses increase revenue, reduce costs, and improve customer service quality and customer satisfaction. For more information about the company, visit www.Infobird.com.
About Shanghai Qishuo Network Technology Co., Ltd
Shanghai Qishuo Network Technology Co., Ltd. is a provider of consumer products and retail store digitization solutions. At present, the company’s activities are mainly focused on the footwear and footwear industry, and have rich experience in serving the major clothing brands in China. With an in-depth understanding of how the clothing and footwear brand retail stores work, Qishuo has developed its main product “Retail Rubik’s Cube” to empower customers with digital means to better understand and improve the process of operation as well as store performance. Qishuo’s Retail Rubik’s Cube has gained high recognition from its customers and the company has won the honor of “Best Retail Big Data Applications Practice Case in China“in 2018.
This press release contains certain forward-looking statements, in particular statements regarding the initial public offering proposed by Infobird. Words such as “will”, “future”, “expects”, “believes” and “intend” or similar expressions, are intended to identify forward-looking statements. Forward-looking statements are subject to the uncertainties inherent in forecasting future results and conditions and no assurance can be given that the proposed initial public offering discussed above will be completed under the conditions described. The completion of the proposed initial public offering and the conditions thereof are subject to many factors, many of which are beyond the control of Infobird, including, without limitation, the failure of the closing conditions. customary and risk factors and other matters set out in the prospectus included in the registration statement in the form last filed with the SEC. Infobird does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Infobird Co., Ltd
Yimin wu, Managing Director and Chairman of the Board of Directors
Infobird Co., Ltd Investor Relations
SOURCE Infobird Co., Ltd