- On April 20, Infobird Co. Ltd debuted on the Nasdaq Capital Markets under the trade symbol ‘IFBD’, with WestPark Capital, the offering’s book-running manager, later announcing the closing of the IPO
- 6,250,000 ordinary shares were sold for a total of $25 million prior to fees and expenses
- Per the offering’s prospectus, the company is eying significant expansion, with the proceeds of the offering likely to be channeled into the expansion plans
As Nasdaq opened on Tuesday, April 20, a new era beckoned for Infobird (NASDAQ: IFBD) since it was the day Infobird officially listed on the Nasdaq Capital Markets. In a later communique, WestPark Capital Inc., the book-running manager for the offering, announced the closing of the IPO wherein 6,250,000 ordinary shares were sold, grossing $25 million in proceeds before fees and expenses (https://ibn.fm/qigjT).
A leading software-as-a-service (“SaaS”) company based in Beijing and offering AI-enabled end-to-end customer engagement products in China, Infobird has a long history of delivering value-driven software solutions that save on costs, increase revenue, and improve service quality, as well as customer satisfaction. These solutions are tailored for all stages of its clients’ sales processes, including pre-sales, in-sales, and post-sales customer support. Moreover, the company offers AI-powered cloud-based sales management software packages that perform intelligent quality inspections and training to help clients monitor, access, and improve the performance of agents.
The successes of Infobird’s multiple software solutions are anchored on its patented Voice over Internet Protocol (“VoIP”) application technologies, artificial intelligence (“AI”) and machine learning functionalities, proprietary cloud computing architecture, a no-code development platform and its many years’ experience.
This, coupled with its commitment to its clientele captured in its mission statement, “to make your customer engagement smart and personalized,” has guided the company through the past years, helping it build a reputation as a premier provider of the various AI-powered software solutions. But for Infobird, it does not stop at that. The company is targeting market dominance (https://ibn.fm/QVywo), and the IPO can be seen as a step towards fulfilling this goal.
In its final prospectus (https://ibn.fm/Vsi8t), IFBD emphasized continual innovation as a way of attracting new clients and retaining existing clientele. This underpins research and development as a crucial focus for the company.
The prospectus also detailed that Infobird intends to increase its client base and market share by expanding its sales team, launching offline and online advertising campaigns, improving its website and social media accounts, enhancing its client lifecycle management, and continuing to organize and participate in forums and seminars.
Further, IFBD is keen on expanding the AI and machine learning capabilities of its applications to facilitate a comprehensive customer engagement experience that is proactive and predictive. To achieve this, the software solutions will consolidate omnichannel and intelligent interactions with customers from telephone, email, social media platforms, websites and text messages throughout the whole customer journey, and predictions of their intentions and behaviors.
The fulfillment of such strategies costs money, meaning the proceeds from the closing of the IPO provide the necessary impetus for the company to advance to the next phase of its operations, as outlined by its plans. With the stage already set for this advancement to occur, more revenue and profits are in view.
For more information, visit the company’s website at www.Infobird.com/en/index.html
NOTE TO INVESTORS: The latest news and updates relating to IFBD are available in the company’s newsroom at https://ibn.fm/IFBD
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