Fobi Launches Digital Marketing Agency and new PaaS (Platform As A Service) Revenue Model

VANCOUVER, B.C. July 20, 2022,  Fobi AI Inc. (FOBI: TSXV FOBIF: OTCQB) (the “Company” or “FOBI”), a leader in providing real-time data analytics through artificial intelligence to drive operational efficiencies and profitability, today announced the launch of their new digital and content marketing agency along with the launch of their platform as a service model. The platform as a service model will provide customers with a SaaS model with managed services for Fobi’s various Pass Pro and Wallet pass solutions as well as coupon marketing.

MANAGED SERVICES POSITION THE COMPANY TO INCREASE REVENUE AND SOLIDIFY ITS POSITION AS AN INDUSTRY LEADER IN WALLET PASS TECHNOLOGY, CPG COUPONS AND REAL-TIME DATA ATTRIBUTION

Fobi VP of Marketing Ian Cameron stated: “This launch is well-timed given the current labour shortages and technology proliferation which can make it difficult to adopt and manage new technologies. Businesses are eager and ready to take advantage of the latest technologies, but they often lack the resources and the manpower. That was the premise for the creation of Fobi’s Digital Managed Services team which is dedicated to providing clients with the latest tools, strategies, and execution needed to be successful online and offline. Thanks to the demand for these managed services the company has already acquired clients across every managed service category which all have high profitability rates built into the services model. We've helped clients optimize their utilization of our technologies, from wallet pass marketing and coupon marketing to custom development, ensuring our clients are getting the maximum engagement and ROI out of all of our platforms. Fobi’s managed services have already enabled clients to digitally transform their business and gain access to measurable insights with significantly less hassle and staffing resources.”

THE FOBI AGENCY LAUNCH ENABLES BUSINESSES TO LEVERAGE THE LATEST TECHNOLOGIES AND SCALE ON DEMAND

The Fobi Agency will now add a key significant area of growth for Fobi and we believe it is well timed given the current labour shortages and the challenges that companies are having hiring talent. The Fobi Agency is a full-service digital media and content marketing agency that will help their current and new customers implement the latest technologies and execute on their marketing goals / objectives.  In addition to Wallet Pass and Coupon campaigns, the new venture will offer clients a wide range of custom services, including copywriting, graphic design, email marketing, and content strategy.  The launch is particularly well timed with the launch of the new digital 8112 standard for Coupon campaigns happening this summer.

Rob Anson, CEO of Fobi stated, “With the launch of our Fobi Digital Agency and PaaS revenue / business model, this marks an important and key milestone for the company. Due to the numerous successful strategic acquisitions we have made over the last 18 months we drastically ramped up and increased the size and capacity of our engineering team. As a result of this significant investment and ramp up we have been able to successfully complete all of the needed integration work which has put us in a position of strength as we are now able to deliver a completely unified and interoperable tech stack.

Due to the forward-looking and strategic engineering design and architecture of our tech stack, we now greatly benefit from the ability to launch and maintain our various platforms with a more streamlined and very cost-efficient engineering team. We have been working on the transition and focus of the company over the last several months and as a result we have been able to go long and narrow while drastically reducing our operational burn rate. With this, there has been a shift in our team’s focus to direct sales and revenue growth through our new digital agency and PaaS business and revenue model.”

You can read more about Fobi’s Managed Services on their website here.

This press release is available on the Fobi website, and also on the Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement. 

About Fobi

Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.

For more information, please contact:

Forward-Looking Statements/Information:

This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, and results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.