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Raw materials platform Zaraye raises $2.1m in Tiger Global’s first pre-seed investment in Pakistan

Zaraye

Karachi based business-to-business raw materials marketplace Zaraye raises $2.1mn in their pre-seed round from Tiger Global and Zayn Capital. Other investors include +92 Ventures, Alan Rutledge, Jack Rizvi, and current and former Careem employees holding key positions in their tenures. This is Tiger Global’s first pre-seed investment in Pakistan. Founded in late 2021, Zaraye helps manufacturing businesses procure raw materials and finance the working capital. It is currently serving clients across textile and construction industries, with over 300 partners and suppliers spread out in 20+ cities. Pakistan’s industrial manufacturing sector contributes to 20% of the country’s economy with a $35bn raw material market annually with raw materials contributing 60-65% of the total costs for the manufacturers. In conditions where net margins are thin, finding efficiency in costs becomes critical for these businesses to win orders and sustain against competition locally and globally. Additionally, SMEs have always found acquiring financing a huge battle for their businesses from financial institutions, and are forced to turn to informal markets with ~2.5x premiums. Ahsan Ali Khan, co-founder and CEO of Zaraye commented: “We aim to strengthen the backbone of the country’s economy by helping the entrepreneurs in finding avenues to optimize and scale. Zaraye will help our partners to compete locally and globally as they find more savings in time and money to create the best products. With the confidence of amazing investors in Zaraye, we are geared to supercharge our mission to reach millions of users”. Traditionally a manufacturer would connect with a handful of intermediaries or directly with the suppliers with a tedious process of going through multiple phone calls, and wait for them to furnish rates. This process is longer, tedious and brings very limited options for the buyers to make a decision. With Zaraye, buyers of raw materials can simply post their requirements for the required product and the relevant suppliers can furnish quotes in real time making the information for buying decisions vast and quick. At the same time, the suppliers can access consolidated demand volumes with the vast network of buyers on Zaraye’s platform. Faisal Aftab, Managing Partner & Co-Founder of Zayn Capital BitRate Fund commented: “Procurement in the manufacturing industry is a massive problem with similar models showing immense success in comparable markets. We believe in the Zaraye team and their capabilities in solving this problem in Pakistan. We’re super excited to be a part of their journey.” Zaraye is available across platforms with their iOS, android and web app. The platform helps buyers of raw materials connect with multitude of suppliers who furnish their quotes in real-time making the process faster and hassle free. Zaraye was founded by IBA class fellows Taha Iqbal Teli, Hashair Junaid Ahmedani and Ahsan Ali Khan who worked together at multiple instances throughout their academic and professional careers. Taha and Ahsan have been part of the tech ecosystem for the past 5 years with experience at giants like Careem and Swvl. Ahsan led Swvl’s Travel category for Pakistan in his last stint, while Taha led the TaaS product for Karachi before launching the Daewoo Adda, a logistics product for transportation’s leading player Daewoo. Meanwhile, Hashair after completing his post-graduate degree at the University of Bath, where studied with Taha he returned to Pakistan to join his family business in Karachi. Hashair soon found his passion in the hospitality industry introducing Czech and Levantian cuisine to Pakistan with two successful ventures while building an FMCG brand for imported coffee from Latin Amercia. Hashair Junaid Ahmedani, co-founder of Zaraye added: “Small and medium business owners have been trapped in a cycle of high competition and lack of financing options- Zaraye aims to help these businesses scale as they find the efficiencies in procurement and financing options to make better decisions for their businesses.” Taha Iqbal Teli, co-founder of Zaraye said “Our goal is to help these entrepreneurs focus on manufacturing and selling their products. Zaraye will handle the entire procurement process, all the way from getting quotes, assuring quality, delivering to their doorsteps with any after-sales assistance our partners might require. Our partners remain at the heart of all our endeavors and we believe this massive problem cannot be solved without a world class team. As we build great solutions for our customers, we are always on the lookout for great talent and I would encourage everyone who feels passionately about building solutions at scale that make lives easy and loved by customers to apply away.” Having worked together on multiple projects, the three came together to solve one of the biggest problems faced by the manufacturing industry in emerging markets. Hashair’s experience while working with his family business was critical in understanding the problems faced by the businessmen and how they operate. The team amalgamates context from legacy businesses and building modern solutions at scale. Zaraye has built a strong team with experience from Swvl, PWC UK chapter, Daraz and Louis Dreyfus and their tech team is led by Asif Ali, ex-CTO Cheetay. About Zaraye Founded in late 2021, Zaraye helps manufacturing businesses procure raw materials and finance the working capital. It is currently serving clients across textile and construction industries, with over 300 partners and suppliers spread out in 20+ cities. Zaraye is available across platforms with their iOS, android and web app. The platform helps buyers of raw materials connect with multitude of suppliers who furnish their quotes in real-time making the process faster and hassle free. About Tiger Global Management Tiger Global Management is an investment firm focused on public and private companies in the global internet, software, consumer,and financial technology industries. Tiger Global has been an investor in companies such as Facebook, Stripe, Uber, Coinbase, Byju’s, Instacart, LinkedIn, Nextdoor, Postmates, Quora, Spotify and others. About Zayn Capital Zayn Capital is an investment firm providing debt and equity financing to start-ups in Pakistan with occasional opportunistic bets in the region. It was founded by Faisal Aftab and Faisal Chowdhry who both serve as managing partners of the Venture Capital firm. Zayn Capital has made 20 investments with lead investments in Nayapay, Bagallery, Krave Mart and Bookme.pk among others. Their team is made up of seasoned executives, investors, founders, and operators who partner and support startups in Pakistan. For more information, please visit https://www.zayn.capital/ Contact Details Zaraye Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website http://www.zaraye.co/

April 14, 2022 07:00 AM Eastern Daylight Time

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NAMEPA receives grant from Cargill to implement program for educating students to become Marine Environment Protectors

North American Marine Environment Protection Association

The North American Marine Environmental Protection Association (NAMEPA) has received funding from Cargill to implement an afterschool enrichment program for youth in grades 6-8 in underserved communities in the greater Miami area with a goal to educate and activate students to be “Marine Environment Protectors”. The project will help “Save Our Seas” by encouraging this generation to become responsible stewards of the marine environment through hands-on educational programs and projects. NAMEPA’s Marine Environment Protectors program increases ocean literacy among underrepresented youth, highlights workforce development in marine fields, allows for long-term scientific research, and creates a framework for similar projects to expand across North America. “Cargill believes in being strong community partners and actively supports valuable programs that protect and promote our planet,” explained Jan-Willem van den Dijssel, Cargill’s Americas Lead for Ocean Transportation. “We are partnering with NAMEPA to help foster ocean literacy amongst students of today and steer them to become ocean ambassadors of tomorrow. This program supports this goal and will drive lasting positive change.” NAMEPA Co-Founder and Executive Director Carleen Lyden Walker commented, “ NAMEPA is grateful to Cargill Cares Community Fund for providing opportunities for organizations such as NAMEPA to engage with students in local communities to be better overall stewards. Marine Environment Protectors will provide hands-on educational programming by utilizing the natural environment, scientific instrumentation, and immersive classroom instruction. This funding allows NAMEPA to continue our educational outreach toward the goal of activating communities to ‘Save Our Seas’.” CARGILL - Cargill’s 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive. We combine 157 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. Side-by-side, we are building a stronger, sustainable future for agriculture. NAMEPA - The North American Marine Environment Protection Association (NAMEPA) is a marine industry-led organization of environmental stewards preserving the marine environment by promoting sustainable marine industry best practices and educating seafarers, students and the public about the need and strategies for protecting global ocean, lake and river resources. Visit us at www.namepa.net. Contact Details NAMEPA Carleen Lyden Walker +1 203-260-0480 executivedirector@namepa.net Company Website https://namepa.net/

April 12, 2022 03:47 PM Eastern Daylight Time

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Cooper Standard Names Quinn Vice President, Chief Commercial and Strategy Officer

Cooper Standard Holdings Inc.

Cooper Standard (NYSE: CPS) today announced the appointment of Shannon B. Quinn to vice president, chief commercial and strategy officer. In her new role, Quinn will be responsible for the global commercial group and corporate strategy, and will report to Patrick Clark, senior vice president and managing director – global automotive. Based at the Company's world headquarters in Northville, Quinn will also join Cooper Standard’s Global Leadership Team. “With more than 25 years of experience spanning a wide range of functions and product areas, Shannon is a great fit for her new role as chief commercial and strategy officer and member of our Global Leadership Team,” said Clark. “She is a creative, proactive and an enthusiastic leader with an established record of improving performance. We are pleased to welcome Shannon to Cooper Standard and I am confident that she will be a key contributor in the continued growth and progress of the Company.” Prior to joining Cooper Standard, Quinn served as president, consumer original equipment (OE) North America for Bridgestone Corp. from 2017 to 2022. In this role, she was responsible for leading business development, commercial negotiations, program management, strategy and the overall profit and loss for the business unit. She also led the new initiative to expand Bridgestone’s overall business with new OE’s and new mobility players. Previously, she held titles of increasing responsibility at Adient and its predecessor Johnson Controls, serving as vice president, Ford business unit, where she was responsible for leading all new business pursuit opportunities and generation of revenue plans supporting overall business projections. She joined the global automotive supplier as managing director for the Ford business unit in 2011. From 2000 to 2011, Quinn held several strategic commercial positions with Visteon Corp. She began her career as a product engineer at Ford Motor Co. in 1991. Quinn earned a Bachelor of Science degree in industrial engineering from Purdue University in West Lafayette, Indiana and a Master of Business Administration from Eastern Michigan University in Ypsilanti. She has also completed multiple exclusive executive leadership development programs. She has served as an OESA (Original Equipment Supplier Association) director and an Automotive Hall of Fame board director. Quinn currently serves as a board director for Vista Maria and the Board Development Committee. About Cooper Standard Cooper Standard, headquartered in Northville, Mich., with locations in 21 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard's approximately 23,000 employees are at the heart of our success, continuously improving our business and surrounding communities. Learn more at www.cooperstandard.com or follow us on Twitter @CooperStandard. # # # CPS_G Contact Details Chris Andrews +1 248-596-6217 candrews@cooperstandard.com Company Website http://www.cooperstandard.com/

April 11, 2022 08:30 AM Eastern Daylight Time

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Volatus Aerospace Provides Intelligence, Surveillance, and Reconnaissance Drones to Support Ukraine

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV:VOL, OTCQB:VLTTF) ("Volatus" or "the Company") is pleased to announce that it has begun delivery of intelligence, surveillance, and reconnaissance (“ISR”) drones to a consortium of organizations that are focused upon the three critical areas of support to Ukraine: medical supplies, non-lethal military equipment, and assistance to displaced persons. In addition to the ISR unmanned aircraft, Volatus is providing anti-drone systems and training. Under the terms of various supply agreements, Volatus has made initial shipments to humanitarian organizations like Mriya Aid, and Second Front Ukraine Foundation - a registered Canadian not-for-profit corporation working with trusted partners across North America and in Ukraine to deliver goods necessary to protect the lives of Ukrainians in the face of Russian aggression. To meet the growing need for this equipment, Volatus is prepared to fulfill continuing requirements for its products. Volatus CEO, Glen Lynch, commented: "We are honoured and proud to support Second Front, Mriya Aid, and others. This technology provides accurate real-time intelligence while reducing risk to the people who have chosen to serve, and, as recent videos have highlighted, civilians who are at significant risk." Source: Volatus Aerospace Corp. TSXV: VOL About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, Latin America and most recently in Europe. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Information: This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the business plans and expectations of the Corporation; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Corporation’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information 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 information. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Volatus Aerospace Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

April 11, 2022 07:45 AM Eastern Daylight Time

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Accelerate Maryland Partners (AM Partners) Applauds Center for Regional Analysis Report Highlighting Economic Boon Bringing $12.6 Billion to Maryland and the Washington, DC Region.

AM Partners

Earlier this week, The Center for Regional Analysis (CRA) at George Mason University released a new preliminary assessment report with the following; highlighting a new report that found building a new American Legion Bridge and expanding the Washington DC region's network of managed toll lanes into Maryland will generate $12.6 billion in construction related economic activity, support 43,400 job-years of employment (a job-year is one job lasting for one year) and boost regional labor income by more than $3.3 billion. The proposed project will construct a new American Legion Bridge across the Potomac River and add 37 miles of highway improvements from the south side of the bridge as part of the I-495/I-270 corridor to Frederick MD. This project will connect Maryland with the expanding managed toll lane network in Northern Virginia. Phase north of the project along I- 270 from I-370 to I-70, is part of an ongoing, federally required environmental study which considers an array of highway improvements to address roadway congestion. “Building this important regional mobility asset will cost about $6 billion. The economic impacts of that spending will be mostly realized in the Maryland suburbs but will be felt across our region,” said Terry Clower director of the CRA. “The jobs supported by this project will boost regional labor income by more than $3.3 billion.” Accelerate Maryland partners (AM Partners) is the private entity in a new Public-Private-Partnership (P3) with the state of Maryland to finance and build the project without local or state tax dollars. Transurban whose North American headquarters is located in Tysons and currently operates 53 miles of managed to lane facilities known as express lanes in Northern Virginia is leading the AM Partners team along with Macquarie Group. Managed toll lanes, a fast-growing approach to traffic management that has been successfully implemented in major cities around the world, allows drivers the choice of paying a dynamically priced toll to use restricted access lanes. Using a free-market approach, the value of the toll varies to encourage or discourage the number of users so that traffic flows on the managed lanes remain relatively unencumbered. The proposed managed toll lanes would allow transit and high occupancy vehicles three or more passengers to use the managed lanes at no cost. “The new roads and bridge are crucial to promoting regional economic competitiveness, Clower added. “State and local leaders recognize that mobility is a key determinant of economic success,” he said. “This will generate economic contributions to the region for decades to come.” The full report and additional information about the study may be found here. (Information contained in this release was from a release posted by the Center for Regional Analysis on Monday, April 4, 2022. The full release may be found here ). ### About AM Partners The AM Partners consortium is led by Transurban and Macquarie Capital, whose collective experience spans more than 90 successful P3 projects globally, including Virginia’s 495, 95 and 395 Express Lanes network – the largest urban P3 toll network in the U.S. with all segments delivered on time and on budget. The consortium seeks to extend the benefits of Virginia’s neighboring Express Lanes network that has saved more than seven million drivers a total of 17 million hours of time, while generating an estimated $7 billion in economic impact and 46,000 jobs in the Greater Washington Area through its development and construction since 2012. AM Partners was selected in February 2021 as Maryland’s preferred Developer for the American Legion Bridge I-270 to I-70 Relief Plan. AccelerateMarylandPartners.com Contact Details Karyn Le Blanc +1 202-497-4572 karyn.leblanc@kglcommunications.com Company Website https://www.acceleratemarylandpartners.com/

April 06, 2022 02:51 PM Eastern Daylight Time

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Dayco Goes Full Throttle In 2022 With More Than 20 Racing Sponsorships

Dayco

Dayco, a leading engine products and drive systems supplier for the automotive, industrial and aftermarket industries, has announced a comprehensive North American racing program for 2022 that will provide almost 20 teams and drivers with access to Dayco’s full line of racing products and technical expertise. With a longstanding history of racing involvement, Dayco’s technical team is focused on providing a range of products engineered to help extreme sports enthusiasts perform at their peak. In drag racing, Dayco continues its partnership with Don Schumacher Racing (DSR) for the 4 th season and serves as the sole supplier of Dayco’s 11mm blower belts at the track. Dayco has also invested in five up-and-coming teams racing in various circuits – from the PDRA and NMCA circuits to small tire racing, factory stock and pro-mod. Team sponsorships include Gillig Motorsports, Watson Racing, Chris Duncan Race Cars, Angel Performance and Seher Shultetus Racing. Between March and October, several of these drivers will put Dayco’s all-new 8mm blower belt, CVT belts and newly launched supercharger belts through the paces. Dayco’s tech team is honed in on showcasing the R&D and performance capabilities of Dayco products in intense driving conditions on the drift circuit. Sponsorships include Chad Anderson Motorsports, Mike Steele of Steele Brothers Racing, husband and wife team Mike and Ashley Messineo and Scherzer Racing. All drivers will be racing in vehicles outfitted with Dayco parts and logos during the April-November season. In the world of powersports and off-road racing, Dayco’s sponsored drivers are wrapping up their snowcross and ice oval racing seasons in early April. This small engine market is growing in popularity and with Dayco’s full line of CVT belts that can handle extreme racing, Dayco continued its support of the Canadian Snowcross Racing Association and served as lead sponsor of February’s 1-500 race. Not only is Dayco the Official Belt of CSRA, but also backs winning teams and motorsports organizations across both snowcross and ice oval racing, including Bailey Motorsports, MPH Racing, Beach Racing, Sterne Racing, Postula Motorsports, She Shreds Mountains, Steve St. Onge and Cameron Wachtler. For more information about Dayco’s motorsports program, visit this link or to learn about Dayco’s high performance aftermarket products, click here. About Dayco Dayco is a global leader in the research, design, manufacture and distribution of essential engine drive systems and aftermarket services for automotive, truck, construction, agriculture and industrial applications. Through its expertise in transferring power quietly and efficiently, Dayco has emerged as the leading global system solutions provider for hybrid electric vehicles. Dayco’s 100+ years of experience in drive systems allows the company to equip all customer applications around the world with the most effective drive systems to meet customer specific performance requirements. Dayco’s world class global distribution network services the aftermarket industry with a full offering of kits and products to meet each local market’s need. Dayco accomplishes this with a dedicated global team that respects one another, shows humility through continuous learning and acts like owners in everything they do. Dayco has more than 40 locations in 22 countries and over 3,600 associates. For more information about Dayco, visit the company’s website at www.dayco.com. Contact Details Dayco Sativa Ross +1 248-292-9564 sativa@srprconsulting.com Company Website https://www.daycoaftermarket.com/en/

April 06, 2022 09:30 AM Eastern Daylight Time

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Agora Data’s CTO Chad Stilwell to Present at Auto Intel Summit 2022

Agora

Agora Data’s Chief Technology Officer, Chad Stilwell, will speak at the 2022 Automotive Intelligence Summit in Raleigh, N.C., April 12-14. His breakout session, titled “Using Data to Predict Subprime Auto Performance,” will start at 1:30 p.m. on April 12. Stilwell is responsible for all data science initiatives at Agora, including artificial intelligence (AI), modeling, and analytics. During his presentation, Stilwell will share how data science helps today’s auto industry better predict – and even improve – the performance of subprime loans. This underserved, underbanked, and previously considered risky segment is rapidly becoming a viable asset class. Stilwell will explain what this means for the future of subprime and how these latest innovations impact lenders, dealers, and consumers. “Closing the deal is only half the battle for today’s independent auto dealers and finance companies. Long-term success in this business relies heavily on how a loan performs after the deal is closed,” Stilwell said. “I look forward to discussing the treasure trove of data analytics now available to dealers and finance companies – and how to best use this information to maximize the performance of their portfolios.” Stilwell brings to the conversation a diverse background of industry firsts. He played a crucial role in launching Agora’s crowdsourced securitizations, their line of credit with reducing interest rates, and their technology platform that provides a book value for subprime auto loans. With over a decade of technology and development expertise, Stilwell previously served as the Director of Analytics & Insights for a top Fortune Global 500 company. He has a passion for using cutting-edge technology to solve today’s challenges. Currently, he leads the Agora team of developers to bring personalized business intelligence and expert analytics to Agora users. Stilwell looks forward to demystifying subprime auto finance for Auto Intel Summit attendees while sharing the game-changing significance of in-depth portfolio analytics. Company representatives will also be on hand at the NIADA Convention & Expo in Las Vegas in June to help further Agora’s mission of empowering independent auto dealers and finance companies. About Agora Data, Inc: Agora Data’s platform delivers a suite of tools to empower independent dealers and finance companies to finance their subprime customers. Agora’s family of auto finance products provides a wide range of critical funding paths so originators can obtain the cash they need to fuel growth, compete, and build wealth. Powered by patent pending technology, originators now have access to robust data analytics and planning resources to help optimize the performance of their portfolios. Agora Data made history by closing the first-ever Crowdsourced Subprime Auto Securitization in 2020 and followed that up with its second transaction in early 2021. For more information, visit agoradata.com or contact us at 877-592-4672. Contact Details Shelly Vandeven +1 682-282-4130 media@agoradata.com Company Website https://agoradata.com/

April 06, 2022 09:03 AM Eastern Daylight Time

DESPITE RESTRICTIONS TRAVEL TECHNOLOGY COMPANIES LEADING GLOBAL RECOVERY

Travel Tech

The US Travel Technology Association (Travel Tech), the voice of the travel technology industry, and eu travel tech today released comprehensive research reports from Phocuswright, the world’s leading travel industry research authority. The research shows travel industry innovators, including global distribution systems (GDS), online travel agencies (OTA) and metasearch companies, travel management companies (TMC), and short-term rental (STR) platforms (in the United States and Europe) bring competition and consumer choice to the marketplace and are leading the COVID-19 economic recovery. According to the Phocuswright research, independent travel intermediaries have a key role in the travel sector rebound. Despite a 61% gross travel revenue drop in 2020 attributable to the COVID-19 pandemic, consumers are much more likely to return to trusted platforms to assist with travel planning and shopping. “Independent distribution facilitated by GDSs, OTAs, Metasearch and TMCs, is paramount to supporting and growing a travel economy that is affordable and accessible to travelers worldwide”, explains Steve Shur, President of US Travel Tech. “This important analysis highlights the value of the travel marketplace for consumers and suppliers. Today’s travel and tourism economy relies on the access, competitive environment and reach facilitated by independent distributors. Their technology, innovations, and marketing expertise foster economic growth for travel and tourism providing consumers with competitive shopping experiences.” “Transparency is critical to making informed booking decisions”, stated Emmanuel Mounier, Secretary General of eu travel tech. “From effective comparison shopping to finding the right accommodation for an itinerary, independent distributors are key contributors to building consumer confidence and reigniting the global travel economy. These entities are particularly important during the inspiration and shopping stages. By creating an environment where travelers can easily compare product features, obtain relevant information about safety and regulations for travel and shop prices, they foster a competitive landscape where suppliers must compete for consumers, based on price, services, amenities and offerings.” The research shows a global consensus that the most successful travel suppliers in the COVID-19 recovery era will be those who best partner with travel intermediaries. In addition to gaining broader distribution, it will mean more options, competitive prices, and better service to travelers. Travel suppliers increasingly value the continuing role of independent travel intermediaries in supplementing distribution efforts in a cost-effective manner. Smaller suppliers value the reach, visibility, and additional bookings they can gain from working with the right travel intermediaries. All recognize the significant benefits of travel intermediaries’ pay-per-performance business model for driving supplemental revenue. Some other findings from the research include: Travelers value travel intermediaries for reducing friction by facilitating the easy comparison and booking of multiple, multi-brand options in a single location. In turn, travel intermediaries feature prominently in both the inspiration and shopping stages for travelers, with 39%, 45% and 44% of US consumers using indirect channels to make their latest leisure air, hotel and car rental bookings respectively. Vacation rentals have experienced a strong resurgence, with city dwellers, no longer tied to the office, seeking getaway alternatives – whether in the mountains, beach, suburbs, or countryside. Short-term vacation rental companies are benefiting from this trend. In Europe, in 2020 the hotel sector took leadership positions in terms of market share, representing 41% of gross revenue. The European hotel sector is primarily made up of smaller, independently owned and operated properties (38% of rooms in 2018). Such properties often struggle to gain adequate visibility in front of potential customers, and travel intermediaries, especially OTAs, help bridge the gap between smaller hotels and consumers. This drives the independent hotels revenue and helps them compete better against their branded peers. OTA gross revenue in the US grew from less than $36 billion in 2009 to more than $79 billion in 2019, falling back to $32 billion in 2020. Despite this steep drop, OTAs accounted for 21% of total travel revenue in the U.S. during the 2020 crisis. Phocuswright’s U.S. Corporate Travel Report 2020-2024 estimates that corporate travel revenue fell 71% to $39 billion in 2020 compared to the previous year. The meetings and events spaces were hit harder, with more than 95% of events canceled or postponed. However, a rapid recovery is underway, and gross revenue is expected to grow in the US to $289 billion in 2022 with full recovery expected by 2025. Suppliers in Europe and the US are concerned with the potential entry of big tech into the travel distribution space. Most feel that these companies would quickly evolve into powerful, and perhaps even dominant players, and some fear Google would potentially evolve into the super app of travel. As several of the large tech platforms are increasingly leveraging their scale, deep pockets, and in-depth customer knowledge to enter the travel space and rapidly grab significant market share, they are forcing suppliers and intermediaries alike to spend ever-increasing amounts on pay-per-click advertising to maintain visibility. ### About US Travel Tech The Travel Technology Association (Travel Tech) is the voice of the travel technology industry, advocating for public policy that promotes transparency and competition in the marketplace to encourage innovation and preserve consumer choice. Travel Tech represents the leading innovators in travel technology, including global distribution systems, online travel agencies and metasearch companies, travel management companies, and short-term rental platforms. About eu travel tech eu travel tech represents the interests of travel technology companies. eu travel tech uses its position at the centre of the travel and tourism sector to promote a consumer-driven, innovative and competitive industry that is transparent and sustainable. Our membership spans Global Distribution Systems (GDSs), Online Travel Agencies (OTA), Travel Management Companies in business travel (TMCs) and metasearch sites. For a copy of the research reports, or to schedule an interview with a US or EU Travel Tech spokesperson, contact Jackie Hampton of kglobal. Contact Details Jackie Hampton +1 443-814-0693 jacqueline.hampton@kglboal.com Company Website https://www.traveltech.org

April 06, 2022 08:45 AM Eastern Daylight Time

Ukraine and Libya conflicts microcosms for upending today's world order

Morgan Marketing & Communications

Speakers JASON PACK ( Senior Analyst at the NATO Foundation and President of Libya-Analysis LLC ) and Ambassador Jonathan Winer (Former US Special Envoy to Libya and Non Resident Fellow at the Middle East Institute) will be illuminating today's dis-order in today's geopolitics at the National Press Club in Washington, DC on the occasion of the launch of Mr. Pack's new work, Libya and the Global Enduring Disorder, being held on Monday, April 11th from 3-5PM in the Zenger Room. The world seems to have gone directly from a hegemonic US-led international system to an interregnum in global order. The traditional phase of multipolarity—or a restoration of the balance of power, or even a struggle among rival systems of order, has been skipped. Jason Pack's Libya and the Global Enduring Disorder (Hurst/Oxford University Press) presents the Libya and Ukraine conflicts as an ideal microcosms for examining the collective action failures typical of our new geopolitics. Jonathan Winer's Afterword contextualizes what the Libya conflict reveals about today's international arena. Their talk is an examination of the current state of the world and American and Western policy towards key geostrategic hotspots framed in light of Jason Pack's Enduring Disorder concept. Broadening out from the discoveries of his core research on Libya, he will discuss how the West's response to the Ukraine crisis highlights where today's geopolitics seem to be headed -- bringing into sharp focus the need for a Western-led, rules-based global order. For more background on the book's main argument and its applicability to the current Ukraine crisis consult, Jason's recent pieces in New Lines Magazine Why Putin Is Playing Poker, Not Chess or with Foreign Policy ' Libya’s Chaos Is a Warning to the World '. For Mr Pack's, argument for a more robust transatlantic approach to order the current disorder, see his: When the US shrinks from the stage, things fall apart --- lead article Boston Globe IDEAS Section. For more information on the event, go to https://www.press.org/events/ukraine-libya-and-global-enduring-disorder Morgan Marketing and Communications is a client-based, retained marketing and communications agency in the maritime industry committed to providing its clients with the highest quality professional marketing and communications services available. Our mission is to partner with our clients to meet their needs, and exceed their goals. Contact Details Morgan Marketing & Communications Carleen Lyden Walker +1 203-260-0480 c.walker@morganmarketcomm.com Company Website https://morganmarketcomm.com/

April 05, 2022 04:12 PM Eastern Daylight Time

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