Communications

Advertising Communications Graphic Design Internet Marketing Media Publishing SEO
News Release Digital Asset Direct

AI Digital Partners with KERV Interactive, Offering Brands a Differentiated Method to Engage Buyers via Video and CTV

AI Digital

AI Digital, a full-service, global programmatic consultancy helping advertisers enhance digital consumer experiences with an audience-first approach, has partnered with KERV Interactive, the leading AI powered interactive video advertising platform, to equip advertisers with differentiated capabilities to create and implement interactive and automated campaigns that drive consumer purchase behavior across video and connected TV (CTV). This partnership is focused on helping brands to unlock the power of video as a performance media channel. Bringing together KERV’s AI-powered technology – which transforms video content into interactive experiences – with AI Digital’s programmatic and trading expertise, brands will get superior performance for video and CTV campaigns through better campaign results and consumer experiences for high-value audiences. "As video and CTV channels become increasingly crowded, advertisers are struggling to break through the noise and establish meaningful connections with their target audiences," said Jay Wolff, CRO of KERV Interactive. "Combining AI Digital's programmatic and trading expertise with KERV AI's interactive video advertising technology now gives brands the ability to accelerate business outcomes and drive active attention from their static video assets.” AI Digital’s collaboration with KERV will also extend AI Digital's Center of Excellence initiative in the streaming category by providing an integrated suite of utilities designed to help marketers navigate and reach the modern streaming consumer and drive them to commerce, across all consumption channels including video, audio and out-of-home (OOH). “We are excited to be working with KERV and bringing innovation to streaming and programmatic. Streaming is fundamentally changing how people consume media in the home, out of the home and everywhere in between,” said Stephen Magli, CEO and founder, AI Digital. “We can’t think of the consumer solely on video anymore because their consumption is ubiquitous across screens in and out of the home. By capitalizing on turnkey ad formats that drive performance, we are helping brands to collapse the funnel and bring in customers through video and CTV channels in a whole new way.” Through its optimization, consumer insights and measurement platform, ELEVATE, AI Digital drives greater accountability for client spend and delivers optimized business outcomes with its distinct metric called the Accountability Score – a specifically designed metric to help brands identify growth areas and minimize ad fraud within media plans, and ensure brand safety and address invalid traffic. With ELEVATE, marketers on average see a 3% reduction in invalid traffic and fraud, a 9% improvement in unique audience delivery, and a 6% increase in brand lift. The platform serves all types of media buys across channels and provides brands with total access across data, inventory, scale, to target and reach consumers at all touch points across their bespoke consumer journeys. “This partnership with KERV signifies a commitment to our ELEVATE platform reimagining how brands and the industry can capitalize on bringing commerce solutions to programmatic,” said Magli. “AI Digital’s ELEVATE seeks to shift the programmatic definition of success away from traditional metrics of impressions, reach and clicks to more meaningful outcomes such as brand equity and lower funnel actions.” About AI Digital AI Digital is a programmatic consultancy that enables an advanced analytics-based and AI-optimized approach to programmatic technology which leads to better business outcomes for marketers. Leading with an audience-first approach, the company helps agencies and advertisers navigate the digital ecosystem by delivering hands-on, unrivaled data and technology access, outcome-based audience strategy, advanced analytics-driven campaign optimization and advanced measurement including detailed, real-time transparent campaign reporting. AI Digital is a priority Amazon Partner with access to over 150+ people-based data sources and in-platform optimization expertise to maximize value of all walled gardens including Google and Amazon’s data and tech stack, along with 10+ DSPs. AI Digital leverages technology through its proprietary platform ELEVATE and the expertise of its world-class, global team to drive a more ELEVATED consumer experience, measurable action, and brand and sales lift for more accountable results. Learn more about AI Digital at www.aidigital.io. About KERV Interactive Austin-based KERV Interactive is a digital advertising platform built on patented technology to create shoppable and immersive experiences within video. Using machine learning techniques and AI to drive speed and precision, only KERV’s technology recognizes depth, dimension, and objects in a video in real-time more accurately than the human eye. The platform’s ability to make shoppable video has shown to be successful across the web, mobile, social and CTV. Only KERV delivers a truly unique shopping experience for consumers and brands. For more information, please visit www.kerv.ai Contact Details Veronica Ruth +1 845-430-8743 aidigital@kitehillpr.com Company Website https://www.aidigital.io

September 13, 2023 09:00 AM Eastern Daylight Time

The Solid Tumors Market Is Expected To Be Worth $901.27 Billion By 2029, And Oncotelic Therapeutics (OTCQB:OTLC) Is Leading The Charge

Benzinga

By Faith Ashmore, Benzinga Solid tumors are abnormal clumps of cells that form in various tissues or organs of the body. Unlike liquid or cystic tumors, solid tumors do not contain any liquid components. They can occur in bones, muscles and organs, and can be either benign or malignant. Solid tumors can arise from different types of cells, such as epithelial cells that line the outer surface of the skin and the covering and lining of organs and internal passageways. Solid tumors are generally considered more aggressive and difficult to treat compared to other types of tumors. This is because they have a tendency to grow, invade nearby tissues, and metastasize to other parts of the body. The characteristics that make solid tumors more challenging to treat include their ability to resist traditional cancer treatments — such as chemotherapy and radiation therapy — and their complex genetic makeup, which can vary from patient to patient. Additionally, the location of solid tumors within the body can also contribute to treatment difficulties, as certain areas may be more difficult to access or treat effectively. In order to improve treatment outcomes for solid tumors, researchers and medical professionals are continuously exploring new therapeutic approaches and personalized treatments tailored to the specific characteristics of each tumor. By gaining a better understanding of the underlying biology and genetic abnormalities of individual solid tumors, targeted therapies can be developed to selectively attack cancer cells while minimizing damage to healthy tissues. Oncotelic Therapeutics, Inc. (OTCQB: OTLC) is a biopharmaceutical company focused on the development of innovative treatments for cancer, with a particular emphasis on solid tumors. The primary product being developed by Oncotelic, through its joint venture is OT-101, also known as Trabedersen. OT-101 is a novel antisense oligodeoxynucleotide designed to target transforming growth factor beta 2 (“TGF-β2”) overexpression in various malignancies, including pancreatic carcinoma, malignant melanoma, colorectal carcinoma and high-grade glioma. Oncotelic aims to address the aggressive nature of solid tumors and their resistance to conventional treatments. In April 2022, Oncotelic’s joint venture (JV) with Dragon Overseas Capital Limited, an affiliate of Golden Mountain Partners, LLC. The JV initial focus is on the development and commercialization of OT-101, the transformative cancer drug that Oncotelic licensed to the JV for a 45% ownership. Dragon Overseas invested cash of $27.6 million for a 55% ownership of the JV. The JV is planned to be headquartered in Hong Kong. Oncotelic could potentially receive up to $50 million following the sale of the RPD voucher once OT-101 has received marketing approval for diffuse intrinsic pontine gliomas. The JV is expected to launch an initial public offering (IPO) on the Hong Kong Stock Exchange in 2024, and CEO Dr. Vuong Trieu has said he expects the IPO to be highly successful. “I am excited to announce that, together with our partner Dragon Overseas, we have formed a JV for the discovery, development, and commercialization of TGF-β therapeutics against all pharmaceutical indications,” said Dr. Vuong Trieu, CEO and Chairman of Oncotelic. “This JV unburdens the Company of the high cost of drug development, which the JV will be responsible for, while the Company will participate in its upside through appreciation in the value of its shares in the JV.” The solid tumors market was valued at $209.61 billion in 2021, and it's expected to reach $901.27 billion by 2029. Oncotelic's focus on developing therapies specifically for solid tumors puts them in a very strong position to be a leader in a growing market. The company's research and development efforts in this area demonstrate its commitment to bringing fresh energy and potential breakthroughs into the treatment of solid tumors, offering new possibilities for patients. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 13, 2023 09:00 AM Eastern Daylight Time

Growth Stage Funding Is the New Series A Says Liquidity Group Exec

Benzinga

In the backdrop of dwindling venture capital (VC) funds and economic volatility, firms are re-evaluating equity and debt financing strategies. "We've seen companies bypassing the usual Series A, B, C approach. Instead, they're embracing what's now termed as 'growth stage funding'," notes Yaron Primovich, head of credit solutions at Liquidity Group. Most growth-stage funding comes in the form of non-dilutive investment - an investment that focuses on revenue and success rather than risk. The Anatomy Of Growth Stage Funding Growth stage funding is often the step after seed funding. Here, companies that have ticked off milestones, like significant revenue streams and achieving product-market fit, are looking to expand. Unlike in earlier stages, where firms might rely on equity, now they often opt for debt sourced from banks or similar institutions. Such financing gives businesses the ability to ramp up their operations. The idea, as one CEO puts it, is to "throw gasoline on the fire." These firms, already having shown promise, are now on a less risky pedestal for investors. This isn't to say that this is the last funding bout for firms. Some will continue to look for equity rounds post this phase. But it's observed that many are marching directly to Initial Public Offerings (IPOs) after a successful growth-stage round. The Significance Of Long-term Financial Stability For startups seeking growth-stage funding, a sturdy financial backbone is pivotal. In many instances, lenders demand detailed financial documentation – a rigorous process that some CEOs might find overwhelming. But this scrutiny often streamlines operations, prepping them for further growth. "Establishing financial stability to a non-dilutive lender is gold for future investments. It indicates the company's capability to generate steady returns and manage its debts," said Primovich. The role of working capital is also paramount. It ensures the business keeps running smoothly, fulfilling its daily operational needs. This is especially true in sectors like artificial intelligence and biotech, where there's immense potential for growth, which makes managing finances prudently indispensable. Challenges And Navigation Acquiring growth-stage funding, even with a proven market presence, can be an uphill task. Attracting the right investors who see the vision and potential of the company becomes crucial. Building a robust relationship with potential stakeholders and exuding credibility are fundamental. As companies morph from startup to growth stage, their financial appetite surges. However, affordable capital is key. A company's financial health, its growth trajectory, and prevailing market conditions can swing the cost pendulum. Building a compelling business case and forging strong ties with potential investors often fetches favorable financing terms. Consistent revenue streams bolster a company's growth potential. Startups that can show they're on this path have a better shot at securing additional rounds of funding. Startups need to be cognizant of the current regulatory framework around non-dilutive capital. Non-compliance can be costly, causing delays or even sinking potential investments. This means being alert to securities laws, tax obligations, and more. Expert legal advice often becomes essential. Finding The Right Growth-Stage Partners Aligning with the right investors during the growth stage is a linchpin for success. They're not just financial backers but also mentors and guides. Depending on the need, businesses can look at various potential investors. “Finding a great growth-stage partner is as important as finding the right equity investor,” said Primovich. “Luckily, most non-dilutive funders take hours - not months - to make a decision so the opportunities are promising.” With innovation at its peak and a surge in growth-stage funding, there's a vast potential for industry disruption. For investors and tech companies alike, the future is luminous. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 13, 2023 09:00 AM Eastern Daylight Time

Locality Expands Partnership with FreeWheel to Reach Local CTV Audiences at Scale

Locality

Locality, the industry’s preeminent local television solutions provider, today announced an expanded partnership with FreeWheel, a global technology platform for the television advertising industry, to reach local audiences at scale across all DMAs. By working with FreeWheel, Locality can now offer the ability to better plan, forecast, activate and report on local audiences activations across streaming television inventory to provide advertisers the value and impact their brands expect. The two companies’ expansion of this tailored solution comes as interest, growth and spending in the local TV streaming ad sector is rising. Per research from BIA Advisory Services, the medium is one of today’s “fastest-growing local media channels,” with double-digit year-over-year ad revenue growth since 2019, and is anticipated to reach $3.4 billion by 2026. Locality’s deep relationships with premium streaming TV providers powered by FreeWheel’s comprehensive ad serving technology offers advertisers a transparent and brand-safe approach to local CTV advertising. Locality reaches relevant, local audiences more efficiently and effectively by unifying its supply of premium streaming TV inventory while using more sophisticated technology for targeting and insights. “Going targeted, at scale, is a must-have and a critical advantage in local advertising,” said Keith Kazerman, President of Streaming at Locality. “FreeWheel’s technology gives us unparalleled access to reach across local markets. It is our intent that this collaboration further demonstrates our commitment to unlocking the tremendous power of local and driving dollars to local video providers nationwide.” “This collaboration is well timed on many fronts,” said David Dworin, Chief Product Officer, FreeWheel. “We’ve seen growing advertiser and consumer interest in this space, as well as a proliferation in streaming TV, in recent years. By partnering with Locality, we’ve developed a solution that uncovers new audiences and sources of growth, all while addressing some of the industry’s biggest roadblocks along the way.” To learn more about the new solution, visit https://locality.com/. About Locality Locality is the industry’s preeminent local television solutions provider, committed to addressing the evolving needs of advertisers by unlocking the power of local and driving dollars to the local video marketplace. Locality brings together the best talent in both broadcast and streaming helping brands tap into the mindset of the local consumer and precisely reach optimal markets, nationally. Having served more than 1,500 ad agencies and 4,500 advertisers, to date, Locality offers the best premium inventory that the industry has to offer to help brands optimize their spend and target audiences at scale. Our team resides in 11 office locations across the U.S. designed to strategically service 100% of DMAs. For more information, please visit www.locality.com. About FreeWheel FreeWheel empowers all segments of The New TV Ecosystem. We are structured to provide the full breadth of solutions the advertising industry needs to achieve their goals. We provide the technology, data enablement and convergent marketplaces required to ensure buyers and sellers can transact across all screens, across all data types, and all sales channels, in order to ensure the ultimate goal – results for marketers. With offices in New York, San Francisco, Chicago, London, Paris, Beijing, and across the globe, FreeWheel, A Comcast Company, stands to advocate for the entire industry through the FreeWheel Council for Premium Video. For more information, please visit freewheel.com, and follow us on Twitter and LinkedIn. Contact Details Kerriann Becker +1 631-235-7796 kerriann@kitehillpr.com

September 13, 2023 09:00 AM Eastern Daylight Time

Aniview and NEW ID Forge a Partnership to Revolutionize Free Ad-Supported TV Channels

Aniview

Aniview, a leading global ad tech and media company, and NEW ID, a pioneering force in technology-based content services in Asia, have united forces in an innovative partnership that promises to reshape the landscape of free ad-supported TV (FAST). Over the past two years, the two companies have been working together to jointly develop a CTV ad server and dynamic ad insertion (DAI) solution to target the monetization of FAST channels. This partnership also marks the launch of the first CTV ad server and dynamic ad insertion (DAI) platform specifically designed for the Asian market. NEW ID will exclusively introduce Aniview's solutions to the Korean and Japanese markets initially, followed by a rollout throughout Asia where FAST is expected to grow. By combining Aniview's cutting-edge CTV ad server & dynamic ad insertion (DAI) technology with NEW ID's playout solution, this groundbreaking partnership aims to create a comprehensive and compelling ad-supported TV channel experience for viewers. The result is a win-win scenario for both content creators and consumers, as this innovative approach ensures maximum engagement and monetization opportunities. With over 200 premium Asian FAST channels available across more than 30 major global platforms, NEW ID leads the FAST industry as both a content distributor and media tech company with the capacity to create, brand, build, schedule, and monetize FAST channels. This year NEW ID released its own CTV app, “BINGE Korea” to target viewers in the US. Variety has recognized NEW ID as the top content distributor of International FAST channels in the U.S. in its most recent FAST report. With a presence across North America, LATAM, Europe, and Asia, NEW ID has established its own network of advertising partners worldwide to monetize its impressive portfolio of channels. Aniview has been at the forefront of ad tech innovation since its inception in 2013. The company has developed a patented video player technology, a high-performance ad server, and a robust video marketplace that have collectively propelled it to being a driving force in the global video advertising ecosystem. Aniview's solutions seamlessly cover various formats, including desktop, mobile, in-app, connected TV, and over-the-top (OTT), making it an ideal partner to revolutionize the delivery of ad-supported TV channels. June Park, CEO of NEW ID, expressed her enthusiasm about the partnership: "Our collaboration with Aniview marks a significant step towards realizing our vision of enhancing the value of Asian content on a global scale. By leveraging Aniview's state-of-the-art unified technology, we are poised to provide a seamless and captivating ad-supported TV channel experience that aligns with the evolving preferences of modern viewers." Alon Carmel, CEO at Aniview, commented: "We are excited to join forces with NEW ID and embark on a journey that redefines free ad-supported TV channels. By combining our expertise and technology, we are confident in our ability to set new industry standards and deliver unparalleled value to content creators, advertisers, and audiences alike." About Aniview Aniview is a global ad tech and media company whose platform is playing an increasingly central role in delivering efficient and effective video advertising across the open web. The company’s end-to-end solutions are highly flexible and transparent, and they operate on desktop, mobile, in-app, connected TV, and over-the-top (OTT) formats. Founded in 2013, Aniview’s patented video player technology, high-performance ad server, and video marketplace provide flawless video delivery to publishers worldwide and power many of the world’s largest web publishing groups. For more information, please visit www.aniview.com. About NEW ID Founded in 2019, NEW ID specializes in technology-based content services. Currently, the company is the largest FAST channel operator in Asia and offers a complete solution to connecting domestic content to global platforms. NEW ID currently has 4 domestic patents for live broadcasting, automatic programming, and encoding. The company pioneers new areas of technology-based distribution by partnering with 30 major global platforms / 40 ad-tech partnerships / AI localization solutions and specializes in CTV-based B2B solutions. Learn more about NEW ID at www.its-newid.com. Contact Details Aniview Vaibhav Pandey info@aniview.com

September 13, 2023 08:15 AM Eastern Daylight Time

Experienced SaaS CEO Junior Gaspard joins Logitix’s Board of Directors

Logitix

Logitix, the leader in live event ticketing technology and analytics, announced that Junior Gaspard has been named to the company’s Board of Directors. Gaspard is an experienced SaaS CEO and past recipient of Sports Business Journal’s Forty under 40 award. As a member of Logitix’s board, Gaspard will support the company’s overall strategy, business development, marketing, organizational design, and culture. Logitix manages millions of tickets for teams and properties from the MLB, NFL, NBA, NHL, and NCAA, plus live event properties across the music, performing arts, and entertainment industries. Its unique platform analyzes millions of real-time data points, providing up-to-the-minute insights within the live event marketplace. Logitix optimizes ticket sales outcomes for all partners through proprietary dynamic pricing and distribution. Gaspard joins an impressive Board of Directors and advisors, which includes the Chair of the PBS Board of Directors Larry Irving, sports industry and e-commerce executive Danielle Maged, entertainment executive and former Harlem Globetrotters CEO Kurt Schneider, Logitix CEO Stu Halberg, ZMC Managing Partner Jordan Turkewitz, ZMC Partner Ripan Kadakia, and Co-Founder and former CEO of Tessitura Network Jack Rubin. “Junior is a dynamic executive who joins an all-star group of leaders on the Logitix board,” said Halberg. “We are fortunate to have such incredible minds to support and grow our business and ultimately bring the best ticketing technology and analytics to our clients.” Through his role as CEO of Experience, Gaspard established himself as a well-respected leader in the sports and entertainment industries, having partnered with over 200 of the nation’s top professional and collegiate teams. Experience was a mobile commerce platform that was acquired by Cox Enterprises. Its clients included some of the largest brands in the MLB, NBA, NFL, NHL, NCAA, and LiveNation. Its mobile upgrade and subscription ticketing technology was used by 2 million fans annually at 65,000 events. About Logitix Logitix is the preeminent monetization engine and ticketing platform for the live event industry, combining optimized pricing, distribution, and inventory management with real-time insights to help sellers and buyers respond to a rapidly changing market environment. The Logitix vision is to automate the entire ticket life cycle and provide data-driven insights to serve the diverse needs of its clients. The company is backed by ZMC and is privately held. For more information about Logitix, visit Logitix.com or find them on LinkedIn. Contact Details Eric Nemeth +1 602-502-2793 nemeth@ericpr.com Company Website https://logitix.com/

September 13, 2023 07:45 AM Eastern Daylight Time

News Release

Unlocking digital success: How MediaValet drives 34% revenue growth in digital asset management

MediaValet

MediaValet CEO Robert Chase joined Steve Darling from Proactive to unveil a significant rebranding effort, featuring a new logo and a fully redesigned website. Chase shared the details of this relaunch and discussed the company's strong second-quarter financial performance. The rebrand includes a modernized logo, reflecting the company's evolution and growth, and a revamped website that showcases the MV DAM platform's capabilities and highlights why MediaValet was ranked as the number 1 Enterprise DAM platform by G2 Crowd. Regarding the company's financial results, MediaValet reported robust 2Q growth, with revenue reaching $4 million, representing a 30% increase from 2Q 2022 and a 5% sequential increase from 1Q 2023. Chase attributed this growth to both new customer acquisitions and the favorable exchange rate, as the strength of the U.S. dollar relative to the Canadian dollar played a role. Importantly, gross margins remained strong at 81%. Chase explained that this margin percentage was influenced by factors such as higher support personnel costs, a greater proportion of professional services revenue, and the timing of customer adoption ahead of revenue expansion. Overall, the rebranding and positive financial performance underscore MediaValet's commitment to providing cutting-edge DAM solutions and its continued growth in the digital asset management market. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com

September 12, 2023 02:03 PM Eastern Daylight Time

Video

How Clean Energy Jobs are Driving the Economy

YourUpdateTV

The Inflation Reduction Act (IRA) is the largest investment in climate and clean energy in U.S. history, and within the last year, companies have created more than 170,600 new clean energy jobs nationwide. Recently, Lori Lodes, the Executive Director of Climate Power, and Gina McCarthy, Former White House Climate Advisor, participated in a nationwide satellite media tour to discuss how families are benefitting from the law and how clean energy jobs are reshaping the economy. A video accompanying this announcement is available at: https://youtu.be/rrfT-Kddz7I?si=1S6U7FzbYqvQhh-a Clean energy projects created 170,606 new jobs in 44 states between August 16, 2022 and July 20, 2023. There are 272 new clean energy projects in small towns and big cities nationwide, totaling $278 billion in new investments. Plans include 91 new battery manufacturing sites in places like Tucson, Arizona; Rochester, New York; and Florence County, South Carolina. So far, companies have announced plans for 65 new or expanded electric vehicle manufacturing facilities in Savannah, Georgia; Montgomery, Alabama; Auburn Hills, Michigan — and more. A further 84 plans were announced to develop wind and solar manufacturing in cities including Cochranton, Pennsylvania; Pensacola, Florida; and Georgetown, Texas. The majority of projects are in five states — Michigan, Georgia, South Carolina, California, and Texas. The jobs being created across the country are good-paying opportunities for electricians, mechanics, construction workers, technicians, support staff, and thousands of others. Many of these clean energy jobs come with higher wages and good benefits without requiring a four-year degree — meaning they’re accessible to most Americans. For more information, visit climatepower.us About Lori Lodes Lori Lodes is the executive director of Climate Power, a strategic communications operation focused on building political will and public support for bold climate action. It was founded going into the 2020 US presidential election and played a key role in establishing climate as a core message for the Biden campaign and Build Back Better agenda. Before stewarding Climate Power, Lori spent a handful of years in corporate communications at Apple. She was deputy director of communications for Hillary Clinton's campaign in 2016, and she spent many years working on communication initiatives for the Affordable Care Act and healthcare.gov. About Gina McCarthy The first White House National Climate Advisor and former U.S. EPA Administrator, Gina McCarthy, is one of the nation’s most respected voices on climate change, the environment, and public health. As head of the Climate Policy Office, McCarthy’s leadership led to the most aggressive action on climate in U.S. history, creating new jobs and unprecedented clean energy innovation and investments across the country. Her commitment to bold action, supported by the climate and clean energy provisions in the Bipartisan Infrastructure Law and the Inflation Reduction Act, restored U.S. climate leadership on a global stage and put a new U.S. national target to cut greenhouse gas emissions by 50-52 percent below 2005 levels by 2030 within reach. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

September 12, 2023 01:16 PM Eastern Daylight Time

Video

Wallabing Is The Airbnb Of RVs Without The High Fees – And It’s Already Raised Over $55,000 On Wefunder

Benzinga

By Rachael Green, Benzinga Learn more about Wallabing’s current crowdfunding raise and how to invest here Wallabing is a peer-to-peer RV rental platform where owners make more, and renters pay less. That’s the company motto and the overarching goal of the startup who is entering the $820 million RV rental market. As its platform continues to grow, it’s launched a Wefunder campaign to raise additional capital while giving investors a chance to be part of that growth. Wallabing Offers Low-Cost RV Travel To Renters And Lets Owners Turn Unused RVs Into Passive Income The average RV owner spends between 28 and 35 days each year using their RV. That means their RV is sitting unused for over 330 days out of the year. Meanwhile, 44% of people who go RVing don’t own their own RV. They prefer to rent – often because it’s too expensive to justify buying a big-ticket asset that they will only use roughly one month out of the year. That’s where Wallabing comes in. As the Airbnb of RVs, it gives owners a way to earn extra cash on their unused RV during those 330 or so days each year that they aren’t using it. And for renters, it’s a safe, low-cost way to find the perfect RV for their next trip. For renters, the platform provides a low-cost way to get on the road and explore the outdoors without the high cost of RV ownership. Wallabing also adds 24/7 roadside assistance, mobile check-in/checkout, and comprehensive insurance. For owners, it’s free to list on Wallabing and free to rent out their RVs. All renters go through a driving record check and are required to have Wallabing’s insurance that will cover the RV. Making the platform fee-free for owners is great for those renting out their RVs and lowers the barrier of listing the RV in the first place. That could give Wallabing a competitive edge when scaling the number of listings on the site. “I found that most of the companies, if not all, would charge an owner to list their RV, whether it was 3% up to 25%,” said Wallabing CEO Jason Carlson in a recent interview on RV Out West. Owners who would otherwise be interested in renting out their RV might be less willing to risk paying a listing fee or might decide their take-home profit after the platform’s cut just isn’t worth it. Its low-fee model could also give it an advantage in attracting renters. Those same platforms that charge fees to owners tend to double down by charging fees to the renters, too. But renters on Wallabing pay just one 10% fee that’s charged on the nightly rate only–not on any cleaning fees or additional equipment they might be renting along with the RV. To make those low fees possible, Wallabing focuses on making its service as cost-efficient as possible. “I looked everywhere we could trim things,” said Carlson. That included carefully choosing a great insurance partner and roadside assistance service. That model is already starting to pay off. In the first half of 2023, the platform has increased its listings by 25% and added thousands to its user base. Since June 15th alone, it gained over 30,000 new users. On the capital raising side, Wallabing also made headway. After raising over $1 million in an initial family and friends funding round, it’s already added over $55,000 more from investors through its Wefunder campaign. Looking ahead, Wallabing plans to grow its inventory to 150,000 RVs within the next five years. Click here to learn more about Wallabing’s mission to revolutionize RV rentals and how to invest. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 12, 2023 09:00 AM Eastern Daylight Time

1 ... 58 59 60 61 62 ... 315