NEW YORK, July 09, 2018 (GLOBE NEWSWIRE) -- Mobiquity Technologies, Inc. (OTCQB:MOBQ), a leading mobile location data intelligence company, today announced the issuance of the following shareholder letter from its Chairman, Thomas M. Arnost:
Dear Shareholders,
Thank you for being a Shareholder of Mobiquity Technologies. We believe that this is an exciting time for all of us. The purpose of this corporate update is to provide you with an overview of some of our recent accomplishments and our goals moving forward.
Over the last couple of years the tech world has rapidly evolved, creating significant new opportunities for companies that are able to meet the demands and challenges presented by the industry.
While our legacy businesses, Ace Marketing & Promotions and our beacon network still represent promising opportunities, the shift in the ad-tech industry created an enormous demand for location-based data. With this in mind, to better focus our resources and efforts to target a much larger opportunity, we successfully sold off Ace Marketing & Promotions and divested from our beacon networks business, both of which significantly reduced our overhead.
Recently, we have been concentrating on enhancing our location technology platform. We have built one of the largest portfolios of precise at-scale mobile location data on real world consumer behavior in the industry. This renewed focus has allowed us to create two revenue streams: data licensing and ad targeting. We expect both of these revenue streams to show rapid growth.
Our internal goal is to build one of the largest premium mobile location data intelligence companies in the USA and Latin America. We intend to accomplish this goal by focusing on increasing our client base through both direct sales and strategic partnerships going forward. We believe we are in a highly fragmented industry, which is ripe for consolidation, and we also believe there will be opportunities for us to be a consolidator in this market.
As a direct benefit of this enhanced business focus, we have been able to execute contracts and have formed strategic partnerships with:
- Barometric, an advanced cross-environment media tracking and measurement solution company; and,
- Advangelists, a leading media serving technology platform for programmatic advertising.
Revenue has already begun being generating from these agreements, and we expect it to increase quarter over quarter as we expand and add new strategic partnerships along the way.
Another exciting development we are excited to share was the strategic investment by Glen Eagles Acquisitions LP, a company focused on building and acquiring businesses within the Internet of Things (IoT), Artificial Intelligence (AI) and Mobile Technologies Industries. We see this partnership as a major growth initiative giving us the ability and resources to move quickly and take advantage of several strategic opportunities.
As we execute on our growth strategy, we look forward to continually sharing our achievements and progress.
We are excited by the opportunities ahead and executing on our plan over the next 12-24 months to increase Shareholder’s value. Thanks again for being a loyal Shareholder. We are glad to have you on this exciting journey with us.
Regards,
Thomas M. Arnost
About Mobiquity Networks ( www.mobiquitynetworks.com )
Mobiquity Networks, a wholly owned subsidiary of Mobiquity Technologies, Inc. (MOBQ), is a next generation mobile location data intelligence company. The company provides precise, unique, at-scale location data and insights on consumer’s real-world behavior and trends for use in marketing and research. With our combined exclusive data set and first party location data via our advanced SDK; Mobiquity Networks provides one of the most accurate and scaled solution for mobile data collection and analysis.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. Certain statements in this press release constitute “forward‐looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements express or implied by such forward‐looking statements. The forward‐looking statements are subject to risks and uncertainties including, without limitation, changes of competition, possible loss of customers, and the company’s ability to attract and retain key personnel. Media Contact: Mobiquity Technologies, Inc. Jed Weisberg 917-720-6504 jed@mobiquitynetworks.com
