FOBI Completes Integration With Lightspeed To Provide Real-Time POS Data Aggregation And Analytics To Lightspeed Customers
September 07 2021 - 5:00AM
Fobi AI Inc. (formerly Loop Insights Inc.) (TSXV: FOBI) (OTCQB:
FOBIF) (the "
Company" or "
Fobi"),
a global leader in providing real-time data analytics through
artificial intelligence to drive customer activation and engagement
is pleased to announce a data aggregation and analytics partnership
with Lightspeed Commerce Inc., the one-stop commerce platform for
merchants around the world to simplify, scale and create
exceptional customer experiences.
- Fobi integration with the Lightspeed commerce platform is now
complete.
- Fobi App has now launched within the Lightspeed ecosystem and
is available for download by Lightspeed customers.
- Fobi will be the “Featured Partner” for the month of
October.
With the recent acquisitions of Vend and NuORDER, Lightspeed has
greatly increased its global footprint and total customer locations
worldwide to become a global leader in the commerce space. Having a
referral partnership with the Lightspeed sales team will be
invaluable to the success of this partnership.
HISTORY OF EARLY SUCCESS BODES WELL FOR FUTURE OF FOBI
AND LIGHTSPEED On August 10th, 2020, Fobi (Loop Insights
at the time) announced a referral partnership and API integration
with Vend, a leading global POS company. The announcement came with
the partnership’s first sale to a 30-location franchise. Through
the reseller partnership, Fobi worked with Vend’s global team to
onboard new customers monthly.
On August 20th, 2020, Vend and Fobi (Loop Insights at the time)
announced a 20-store pilot that successfully concluded on November
4th, 2020 with an agreement to deploy its insights platform at 550
‘Your CBD’ locations across 41 states, the largest CBD retailer in
the United States. With the acquisition of Vend by Lightspeed
approximately five months later and the integration of Fobi into
Lightspeed just five months after that, both companies are very
confident and excited about their anticipated success going
forward.
Lightspeed’s GM of Partnerships & Hospitality Peter
Dougherty stated: “Lightspeed is committed to providing
innovative tools that will help our retailers succeed. We are
excited to offer Fobi’s integration in the Lightspeed partner
ecosystem, as this will empower our customers with more tools to
grow and scale their business.”
Fobi CEO Rob Anson stated: “Lightspeed’s
support of Fobi’s integration to their platform cannot be
understated as it speaks volumes about their confidence in Fobi as
a premiere retail data solution provider. With our integration now
complete, both Fobi and Lightspeed are positioned to generate new
sales opportunities through this successful partnership. And, being
selected as their “Featured Partner” in the Lightspeed ecosystem
for the month of October is another validation of the value that
Fobi brings to Lightspeed retailers.”
FOBI INTEGRATION AND APP WILL PROVIDE SEVERAL KEY
BENEFITS FOR LIGHTSPEED RETAILERS
The key benefits of the Fobi Integration and App for Lightspeed
retailers are as follows:
- Helps retailers save time. Retailers can see aggregated online
and in-store data in real-time across multiple POS systems and
Lightspeed accounts. There is no need to spend time exporting and
consolidating data.
- Gives Lightspeed retailers real-time insights. Retailers can
make informed data-driven business decisions based on powerful
micro-trend, demographic, macro-level data and retail metrics.
- Helps Lightspeed retailers grow and scale their business. With
visualization of every data touchpoint, retailers can view their
sales history and see year over year growth across their entire
business operations to help forecast and plan the future of their
business with AI data forecasting and segmentation.
INTEGRATION WITH LIGHTSPEED PROVIDES FOBI WITH A
SIGNIFICANT ADVANTAGE IN THE FAST-GROWING GLOBAL CLOUD POS MARKET -
ONE OF THE FASTEST GROWING IN THE WORLD
According to a recent report published by Allied Market
Research, the global cloud POS market size was valued at $2.24
billion in 2020, and is projected to reach $13.24 billion by 2028,
registering a CAGR of 24.5 % from 2020 to 2028. This makes the
global cloud POS market one of the fastest growing markets in the
world, and one that Fobi and Lightspeed will now be able to target
together.
This Press Release Is Available on the Fobi Website and the FOBI
Verified Forum On AGORACOM For Shareholder Discussion And
Management Engagement.
About Lightspeed
Powering the businesses that are the backbone of the global
economy, Lightspeed's one-stop commerce platform helps merchants
innovate to simplify, scale and provide exceptional customer
experiences. The cloud solution transforms and unifies online and
physical operations, multichannel sales, expansion to new
locations, global payments, financing and connection to supplier
networks. Founded in Montréal, Canada in 2005, Lightspeed is
dual-listed on the New York Stock Exchange and Toronto Stock
Exchange (NYSE: LSPD) (TSX: LSPD). With teams across North America,
Europe and Asia Pacific, the company serves retail, hospitality and
golf businesses in over 100 countries.
For more information, see www.lightspeedhq.comFollow us on
social media: LinkedIn, Facebook, Instagram, YouTube, and
Twitter
About FobiFobi 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:
Fobi AI Inc. |
|
Fobi Website: www.fobi.ai |
Rob Anson, CEO |
|
Facebook: @ Fobiinc |
T : +1 877-754-5336 Ext. 3 |
|
Twitter: @ Fobi_inc |
E: ir@fobi.ai |
|
LinkedIn: @ Fobiinc |
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, 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.
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