Infobird Co., Ltd - Ordinary Shares (IFBD)

Infobird (NASDAQIFBD), a software-as-a-service(“SaaS”) provider of innovative, AI-powered or artificial intelligence-enabled customer engagement solutions, today announced that it is amending the effective date for its reverse stock split. Due to an unanticipated delay in obtaining necessary regulatory clearances, the effective date was revised to Monday, March 4, 2024, where trading will begin at market open on a split-adjusted basis.

Infobird (NASDAQIFBD), a software-as-a-service provider of innovative AI-powered, or artificial-intelligence-enabled, customer engagement solutions, will be effecting a planned 1-for-8 shared consolidation of its ordinary shares. The share consolidation was approved at the company’s extraordinary general meetings of the shareholders, which was held on Feb. 20, 2024, in Hong Kong. Other items that were approved at the meeting include a capital reduction and share capital reorganization. According to the announcement, the company’s ordinary shares will begin trading on a post-share consolidation basis with market open on Feb. 27, 2024. The move was approved as the company is focused on regaining compliance with NASDAQ market requirements. When the share consolidation takes effect, every eight ordinary shares of a par value of $0.5 each will be consolidated into one ordinary share of a par value of $4 each. The announcement also noted that the capital reduction will become effective when the Grand Court of the Cayman Islands grants a court order approving the move. “After the capital reduction and reorganization, our ordinary shares will have the same voting rights and rights to dividends and distributions and will be identical in all other respects to our ordinary shares now authorized,” the company stated in the press release. “The share consolidation and the capital reduction and reorganization was approved by the company’s board of directors on Jan. 10, 2024, and its shareholders on Feb. 20, 2024.”

Infobird (NASDAQIFBD), a software-as-a-service provider of AI-powered customer engagement solutions in China, is announcing that its management team has decided not to carry out any financing activities in the next three months. The company has raised some operating funds in previous financing activities that will help Infobird expand its business. The decision follows consultations with previous investors and is intended to better protect the interests of the company’s small and medium shareholders, Infobird said in the announcement. Infobird’s management team expressed its appreciation for potential investors’ continued attention and interest in the company.

Infobird (NASDAQIFBD ), a software-as-a-service (“SaaS”) provider of AI-powered customer engagement solutions in China, has entered into a new business contract with an information technology system company. According to the announcement, the new contract, which is valued at $1.8 million, involves a collaboration in software and IT system development. The principal business of the counterparty is a gig economy platform of localized life services, and the contract calls for Infobird to “intensify the investment in research and development of SaaS systems and software technologies.” Infobird will also explore more SaaS-technology applicable scenarios designed to help clients with business expansion. “Infobird will expand its business to the SaaS-segmented scenarios, to penetrate the call center SaaS business into specific scenes and seek better opportunities,” stated the company in the press release. “[The] company has already identified new business models and obtained R&D achievements in several sectors, and prefers to focus on high-margin market segmentation with more competitive advantage and positive cash-flow generation.”

Infobird (NASDAQIFBD), a software-as-a-service (“SaaS”) provider of AI-powered customer engagement solutions in China, has received notification from NASDAQ that is has regained compliance with the market’s minimum bid price requirement. The company has been working since September to regain compliance, which it lost after failing to maintain a minimum closing bid price of at least $1 per share for 30 consecutive trading days. Those efforts included the company announcing a 1-for-20 share consolidation, effective Nov. 15, 2023. The Dec. 5, 2023, NASDAQ notice stated that the company “evidenced a closing bid price of its ordinary shares at or greater than $1 per share for at least 10 consecutive business days from Nov. 20 through Dec. 4, 2023. Accordingly, the company has regained compliance with NASDAQ Listing Rule 5550(a)(2), and NASDAQ considers the matter closed.”

Infobird (NASDAQIFBD) is a software-as-a-service provider of innovative AI-powered, or artificial intelligence-enabled, customer engagement solutions. The company today announced that the annual general meeting of the shareholders held on Wednesday, Nov. 15, 2023, approved the proposed 1-for-20 share consolidation of its ordinary shares of US$0.025 par value each (the “share consolidation”) and increase of the company’s authorized share capital (the “increase of authorized shares”) immediately after the share consolidation takes effect. Effective with the opening of trading on Nov. 20, 2023, the company’s ordinary shares will begin trading on a post-share consolidation basis on the Nasdaq Capital Market under the same symbol, IFBD, but under a new CUSIP number of G47724128. The objective of the share consolidation is to enable Infobird to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market.

Infobird (NASDAQIFBD), a software-as-a-service (“SaaS”) provider of AI-powered customer engagement solutions in China, is relocating its operations from Beijing to the Hong Kong Special Administrative Region. The company’s board of directors made the decision to move based on the “current business situation and economic environment, as well as the company’s commitment to expand globally.” In addition to relocating to Hong Kong, the company anticipates recruiting more local employees in the region. According to the announcement, the company plans to continue its focus on becoming a global player in the SaaS space and catering to the diverse needs of customers worldwide by establishing offices in other key locations, including Singapore, other parts of southeast Asia and Europe. The announcement also noted the company’s intention to focus on SaaS-segmented “high-margin market segments,” specifically the finance, real estate and hotel-management sectors, to enhance its competitive advantage and generate positive cash flow. “Our relocation to Hong Kong marks a significant milestone for Infobird as we embark on an exciting journey towards global expansion,” said Infobird CEO Cheuk Yee Li in the press release. “We are confident that this strategic move will enable us to better serve our international clientele and pave the way for innovations.”

Infobird (NASDAQIFBD), a software-as-a-service provider of AI-powered customer engagement solutions in China, today announced that it plans to implement a 1-for-5 share consolidation of its ordinary shares, effective on May 15, 2023. According to the update, the company’s ordinary shares will begin trading, effective with market opening on May 15, on a post-share consolidation basis on the Nasdaq Capital Market. The ordinary shares will trade under the same symbol IFBD, but under a new CUSIP number of G47724110. The company’s objective of the share consolidation is to enable it to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market.

Infobird (NASDAQIFBD), a software-as-a-service provider of AI-powered customer engagement solutions in China, announced it has filed its annual report on Form 20-F for the fiscal year ended Dec. 31, 2022, with the U.S. Securities and Exchange Commission (“SEC”). The report, which contains Infobird’s audited consolidated financial statements for the fiscal year ended Dec. 31, 2022, can be accessed through the SEC’s website or Infobird’s website . In addition, Infobird will provide a hard copy of its annual report containing audited consolidated financial statements free of charge to its shareholders upon request. Requests should be directed as detailed in the announcement.

Infobird (NASDAQIFBD), a leading provider of AI-powered customer-engagement solutions in China, recently integrated ChatGPT in its ongoing commitment to upgrade its artificial intelligence customer service system. According to the announcement, ChatGPT is a leading AIGC technologies that has been widely applied in fields such as natural language processing and machine learning. The company noted that the integration of new technology marks an important milestone for Infobird as it has become one of the first batch of companies that have ChatGPT-empowered customer engagement system in China. In the process of integrating the tech, Infobird studied industry-specific material and common-sense responses to ensure the integration with its existing intelligent customer service robot. “The introduction of ChatGPT will completely change the working method of the customer service system and make it more intelligent and efficient,” said the company in the announcement. “It will also provide more business opportunities for the company, such as capturing user needs through intelligent customer service systems, optimizing product design, and improving user satisfaction. As a leading AI SaaS software service provider in China, [we are] committed to making our clients’ customer engagement smart and personalized. Through comprehensive intelligent product systems such as cloud call center, AI Chatbots, intelligent cloud customer service, and intelligent quality inspection, we empower clients with standard and intelligent software products for the whole customer engagement process.”

Infobird (NASDAQIFBD) is a leading and long-standing software-as-a-service (“SaaS”) provider in serving large enterprises in the finance industry in customer engagement with over 10 years of experience in China. The company today announced the pricing of its registered direct offering of 3,846,000 units, with each unit consisting of one ordinary share and 0.65 warrant to purchase one ordinary share. Each unit was sold at a price of $1.30. The warrants will be exercisable immediately upon the date of issuance at an exercise price of $1.30 and will expire five years from the date of issuance. Each warrant in the offering will become exercisable for one ordinary share under the cashless exercise provision upon satisfaction of certain conditions. Concurrently with the offering, Infobird is conducting a private placement with the investors for additional unregistered warrants to purchase 2,884,500 ordinary shares. The unregistered warrants will be exercisable six months after the date of issuance at an exercise price of $1.30 and will expire five and a half years from the date of issuance. Infobird is expected to secure approximately $5 million in gross proceeds from the offering and concurrent private placement. Subject to customary conditions, the offering is expected to close on Feb. 28, 2023. Maxim Group LLC is acting as the sole placement agent in connection with the offering and concurrent private placement. In connection with the offering, ArentFox Schiff LLP, Washington, DC, acted as counsel to the company, and Hunter Taubman Fischer & Li LLC, New York, NY, served as counsel to Maxim Group LLC.

Infobird (NASDAQIFBD ), a leading provider of AI-powered customer-engagement solutions in China, has received a notification letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC noting that the company has regained compliance with the market’s minimum-bid price requirement; the letter noted that the matter is now closed. Infobird received notice in March 2022 that it had failed to meet the $1 per share minimum closing bid price for 30 consecutive trading days. The company has been working since then to regain compliance. The letter stated that as of Oct. 6, 2022, Infobird has evidenced a closing bid price of its ordinary shares at or greater than $1 per share from Sept. 9, 2022.

Infobird (NASDAQIFBD ), a leading provider of AI-powered customer-engagement solutions in China, has partnered with a widely recognized taxi enterprise in China. Working with the client, IFBD plans to provide a personalized intelligent customer-reception platform that will offer digital capabilities designed to improve the customer experience and ensure service efficiency. The company called the new engagement an “important milestone” in the company’s focus on expanding its customer base in the transportation industry. According to the announcement, demand for travel in urban Chinese areas is growing as more residents are moving to the cities. However, the government strictly controls cab licenses, and the supply of cabs is not meeting the demand. IFBD’s planned software solution will bring together intelligent artificial intelligence (“AI”) chatbot customer-service agents, an intelligent ticketing system and customer service agents to offer a comprehensive digital customer-service platform. According to the company, “after the platform is launched, the AI chatbots can assist human customer service agents, realize 7×24 full-time reception, respond to inbound calls, automatically record the contents of the answer and generate work orders, which is convenient for customer service personnel to inquire, and ensure the connection rate while eliminating the occurrence of missed connections. . . . Whether it’s a complaint, a praise or a lost-item search, Infobird’s intelligent AI chatbot customer service agent can reply enthusiastically and intelligently, quickly solving the caller’s problems and improving the customer service experience.”

Infobird (NASDAQIFBD ), a leading provider of AI-powered customer engagement solutions in China, is deploying its exclusive Retail Rubik’s Cube, a digital Software as a Service (“SaaS”) solution; IFBD is working with a globally recognized multinational enterprise in that process. Developed by Infobird subsidiary Shanghai Qishuo Network Technology Co., Retail Rubik’s Cube empowers the digital operational analysis of offline stores; the announcement noted that the collaboration is a “new customer win” and “an important milestone for Infobird” as it represents the company’s first client in the food-service distribution industry. According to the company, the new multinational customer has operations in more than 10 different sectors, including agriculture products, retail, finance, food-service distribution and real estate, and is one of the largest foreign-invested enterprises with the most investment projects in China. “As a leading AI SaaS software service provider in China, Infobird is committed to making our clients’ customer engagement smart and personalized,” the company stated in the press release. “Through comprehensive intelligent product systems such as cloud call center, AI chatbots, intelligent cloud-customer service, and intelligent quality inspection, we empower clients with standard and intelligent software products for the whole customer engagement process. Our subsidiary, Shanghai Qishuo Network Technology Co. Ltd, broadens our market expansion potential in the retail and now the food-service distribution industry, as we are able to provide a more comprehensive online and offline customer-engagement solution to clients.”

Infobird (NASDAQIFBD ), a leading provider of AI-powered customer engagement solutions in China, has announced plans to implement a one-for-five share consolidation of its ordinary shares. Infobird says the plan will be effective beginning with the opening of trading on Sept. 9, 2022. At that time, IFBD ordinary shares will begin trading on the NASDAQ on a post-share consolidation basis; the shares will trade under the same IFBD symbol but will have a new CUSIP number: G47724201. According to the announcement, by implementing the share consolidation, the company hopes to regain compliance with Nasdaq Marketplace rules and maintain its listing on the Nasdaq Capital Market. The consolidation, which has been approved by the Infobird board of directors and shareholders, calls for every five issued and outstanding ordinary shares to be converted into one issued and outstanding ordinary share with no fractional shares being issued. The announcement noted that the share consolidation impacts all shareholders uniformly and “will not alter any shareholder’s percentage interest in the company’s outstanding ordinary shares, except for adjustments that may result from the treatment of fractional shares.”

Infobird (NASDAQIFBD) is a leading provider of AI-powered customer engagement solutions in China. The company today announced that it has been engaged by Shanghai Ximalaya Technology Co. Ltd (“Ximalaya”), a leader in China’s online audio industry, to leverage Infobird’s “Intelligent Interactive Training” solution to optimize Ximalaya’s service quality and improve customer experience. The agreement represents Infobird’s entry into the expanding online audio industry in China, opening a new chapter for both parties to work together to deepen cooperation and promote high-quality user services. With a rich ecosystem, Ximalaya is the leading online audio platform in China, bringing together approximately 340 million pieces of content in its library containing 101 categories. The Ximalaya platform’s mission is to empower people to share wisdom and embrace a better life via voice.

Infobird (NASDAQIFBD), a leading provider of AI-powered customer engagement solutions in China, today announced its entry into a channel partner agreement with Singapore-based Harbor Private Limited, which focuses on providing software services to enterprises. Under the agreement, Harbor Private Limited will be responsible for the sales of Infobird’s intelligent interactive training SaaS products in the Singapore market. According to the update, the cooperation marks the official entry of Infobird’s products into the international market. As the product provider, Infobird will leverage its experienced team of technical experts and consultants to provide consulting, training and technical support to Harbor Private Limited. Harbor Private Limited will utilize its resources and team to promote Infobird’s intelligent interactive training product into the Singapore market and provide efficient localization services to local customers.

Infobird Co. Ltd. (NASDAQIFBD ), a leading provider of AI-powered customer engagement solutions in China, is now providing services to a leading global pharmaceutical and vaccine manufacturer’s subsidiary. According to the announcement, Infobird will be utilizing its AI chatbots and impressive experience in the healthcare industry to support the client’s digital and intelligent customer-engagement initiative, including its patient notification process regarding COVID-19, HPV and other childhood vaccines. The new client is one of the world’s leading professional human-vaccine development and production companies and is committed to producing high-quality, safe vaccines. The partnership will use Infobird’s AI chatbot SaaS product to enable the vaccine manufacturer to offer its customers with professional, attentive and convenient vaccination notification services. “Under this cooperation, Infobird’s intelligent outbound call solution primarily includes AI Chatbot outbound call, which will be responsible for the client’s vaccination notification, such as COVID-19 vaccine, HPV vaccine and various childhood vaccines,” the announcement states. “The entire process is operated by AI without human involvement, which can help to reduce the staff’s burden while improving customer experience and helping the client to increase the vaccination rate. At the same time, since vaccines are one of the most effective measures to prevent and control the COVID-19 epidemic at present, utilizing Infobird’s intelligent outbound call method is expected to help the client to notify users of the second and third doses of COVID-19 vaccine in advance, which is expected to largely increase the number of COVID-19 vaccinations for the client.”

Infobird (NASDAQIFBD), a leading provider of AI-powered customer engagement solutions in China, announced its entry into a cooperation agreement with a leading global fintech service provider. Under the agreement, Infobird will leverage its AI Chatbots and years of experience in the financial industry to provide strong support for the client’s digital and intelligent customer engagement. In an era focusing on efficiency and effectiveness, fintech companies are increasingly seeking to leverage intelligent solutions to better reach and contact their customers. Traditional methods of connecting through human customer service agents can be quite costly and ineffective. This is especially true for companies with a large customer base, where difficulties of efficient customer management and the associated personnel costs can increase significantly. Infobird’s AI voice/text Chatbot products can support many client scenarios, including notification, marketing, customer activation and satisfaction surveys, etc. In addition, during solution implementations, Infobird’s business consultants can help clients design processes that are more suitable for customer engagement scenarios with the goal of truly integrating its solutions into the operations of the customer to maximize the effect of its AI applications.

Infobird Co. Ltd. (NASDAQIFBD ), a software-as-a-service (“SaaS”) provider of AI-powered, customer-engagement solutions in China, is working to transform how dental practices engage with patients throughout the complete customer journey. The company offers SaaS solutions designed to provide digitalized customer engagement to enhance working efficiency and customer experience as well as increase customers lifelong value. These solutions are ideally suited for digitizing and improving existing customer-engagement processes that are core to dental and medical practices. When health-care professionals rely on these solutions to support basic components of customer interaction, they can focus their efforts on providing high-quality health care, which often results in improved experiences for patients. Infobird is targeting the dental industry because of its potential for growth and has begun working with many domestic leading dental brands. The company notes that, with the rapid rise of the dental industry in China and the strong foundation it has established in the space, it anticipates growth in market share. Specifically, Infobird enables dental practices to provide personalized service through its digital customer engagement, which is essential in long-term customer retention and also helpful in attracting new customers. Infobird provides digital customer-engagement solutions that support dental offices in three significant areas: marketing, customer service and management. Current Infobird clients include leading dental institutions in China, such as Jinsong Dental, Guanmei Dental, Jiamei Dental, and Zhongke Leader among many others.

Infobird (NASDAQIFBD), a software-as-a-service (“SaaS”) provider of AI-powered customer engagement solutions in China, today announced it has filed its annual report on Form 20-F for the fiscal year ended Dec. 31, 2021, with the U.S. Securities and Exchange Commission (the “SEC”). The annual report, which contains Infobird’s audited consolidated financial statements, can be accessed through the SEC’s website at www.SEC.gov or Infobird’s website at www.Infobird.com . “Fiscal year 2021 marks a very important milestone to us. We successfully became a public listed company on Nasdaq and set the course for our business transition to standard cloud-based services as our key strategy for the near future. We have accumulated deep experiences in serving large enterprises in the past with high security and service levels. Part of our growth strategy revolves around leveraging our valuable know-how and capabilities to serve more clients of different sizes,” said Yimin Wu, chief executive officer and chairman of the Infobird board of directors. “Therefore, we believe our strategic transition from customized cloud-based services to standard cloud-based services will not only help us to expand the size of our addressable markets by accessing additional potential customer groups, but also empower more clients to transform their customer engagement in a more intelligent and digitalized way. To achieve this goal, we have set a clear go-to-market strategy to target both small to medium-sized businesses and mid-to-large enterprises with our telemarketing team and regional and industry sales teams while building a more solid foundation as an organization for standard cloud-based services expansion since 2021.”

Infobird (NASDAQIFBD), a leading provider of AI-powered customer engagement solutions in China, today announced its entry into a cooperation agreement with Taikang Healthcare Industry Investment Holdings Co. Ltd. A wholly-owned subsidiary of Taikang Insurance Group, Taikang Healthcare Investment Holdings specializes in investment and development, asset management and operation services for the medical care and health industry. Through the cooperation, Infobird will provide its full suite of digital contact center solutions to assist Taikang Healthcare Investment Holdings telemarketing and customer service department, home care service center and high-quality elderly care community and create an omni-channel intelligent contact solution to comprehensively enhance the efficiency and quality of customer service. Infobird will collaborate with Taikang Healthcare Investment Holdings to upgrade and transform its digital contact center management and intelligent services in two phases. In the first stage, Infobird will provide cloud telemarketing and cloud customer service solutions to enable more efficient customer service and lead management and, at the same time, optimize outbound calling. In the second stage, Infobird’s omni-channel call center will serve Taikang Healthcare Investment Holdings Home Care Service Center to provide service reservations and scheduling for the entire community.

Infobird (NASDAQIFBD), a leading provider of AI-powered customer engagement solutions in China, today announced its preliminary revenue guidance for the year ended Dec. 31, 2022. In addition, Infobird provided an update on its strategic priorities, to be further discussed on a company hosted investor call scheduled to begin at 9:00 a.m. ET on Tuesday, March 15, 2022. Among the highlights, the company expects full year 2022 preliminary revenue to be approximately US$16 million. “We have found enormous opportunities in the customer engagement market in China, and the interest in our SaaS service is accelerating across many verticals,” said Yimin Wu, chief executive officer and chairman of Infobird. “In conjunction with our valued customers, we believe we have developed a clear strategic vision and solution that empowers them to transform their customer engagement strategy. Our goal is to provide real business value-driven solutions deploying industry-specific upgradeable modules to our clients. 2021 was an important year to build our foundation both in terms of potential client base and the organization for accelerated growth. With these valuable foundations, we are excited with 2022 and the years ahead.”

Infobird (NASDAQIFBD ), a software-as-a-service (“SaaS”) provider of AI-powered customer-engagement solutions in China, has signed a cooperation agreement with a subsidiary of Nippi Shanghai to increase its sales and grow its market share as a supplier of collagen raw materials to the Chinese market. The contract with Nippi (Shanghai) Trading Co. Ltd. calls for Infobird to deliver comprehensive digital marketing solutions designed to provide Nippi Shanghai with a multichannel, intelligent marketing system to enhance its marketing efficiency and effectiveness. Nippi Shanghai is operating in a rapidly growing market, with collagen becoming one of the most widely used raw materials for food supplements and beauty products. Nippi is the number-one collagen supplier in Asia and the second largest in the world. Infobird brings its vast experience in the field of digital marketing to the partnership, along with expertise in improving customer operations and services. According to the announcement, Infobird anticipates that its relationship with Nippi Shanghai will strengthen moving forward and that its recognition as a provider of digital solutions in the growing health and wellness industry will also increase.

Infobird (NASDAQIFBD ), a software-as-a-service (“SaaS”) provider of AI-powered customer-engagement solutions in China, is accelerating its marketing and sales initiatives in the rapidly growing electric vehicle (“EV”) sector. According to the company, its digital solution focuses on the entire user journey to help car manufacturers promote omni-channel digital marketing and customer engagement. Infobird made the decision after working with HYCAN, a China-based rising new energy vehicle (“NEV”) manufacturer that has been using IFBD’s digital solution. The company noted that its entry into the NEV field represents an important growth initiative and is projected to enhance its cross-industry service capabilities as well as contribute to Infobird’s business development and growth opportunities. “Automotive consumers attach great importance to experience and service,” said Infobird CEO and chair Wu Yimin in the press release. “Whether manufacturers understand the profile of the consumer groups, how to reach these consumer groups, and whether they can keep these consumers loyal are the key factors for new energy vehicle manufacturers to achieve a great outcome in marketing. With the development of new energy vehicle towards intelligence and networking, digital customer engagement is becoming more and more important. In response to the marketing needs of the new energy vehicle industry, Infobird believes a digital solution based on the entire user journey will best support a car manufacturer’s omni-channel digital marketing and customer engagement.”