Adcore to Expand Presence in China with Opening of Shanghai Office
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TORONTO, ON / ACCESSWIRE / March 15, 2021 / Adcore Inc. (the "Company" or "Adcore") (TSX:ADCO)(FSE:ADQ), a leading e-commerce advertising management and automation platform to leverage digital marketing in an effortless and accessible way ("Effortless Advertising") today announced that it will expand its presence in China with the opening of a corporate office in Shanghai later this month. The establishment of this office follows the opening of Adcore's regional headquarters in Hong Kong in early 2020, and reflects the Company's commitment to the rapidly growing digital advertising market in the Asia-Pacific region.
Omri Brill, CEO of Adcore, stated, "Following the immense success the company experienced from launching our Hong Kong office nearly a year ago, we are excited to strengthen our foothold in China with the opening of a mainland office in Shanghai. When we announced the opening of our Hong Kong office, we noted the growing importance of digital advertising in China, which is expected to be $128 billion in 20211. To provide some additional context, according to a study by McKinsey & Co, before COVID-19, China was already a digital leader in consumer facing areas, accounting for 45% of global e-commerce transactions, and consumers and businesses in China have accelerated their use of digital technologies as a result of the pandemic2. With our wide-reaching platform, Adcore is well-positioned to partner with Chinese companies seeking to reach a global customer base and we have already seen tremendous interest in our marketing technologies coming from China. The expansion of our presence to the Mainland puts us closer to our Chinese clients and provides a local team that's fluent in Mandarin, which we believe will accelerate our growth, open new opportunities and drive further penetration of this valuable market." Mr. Brill added: "I couldn't be more thrilled about the launch of our Shanghai office as I believe China will be a major growth engine for our company in 2021 and beyond."
Gal Itkin, General Manager of Adcore Greater China, commented, "Shanghai is a technology hub where both retailers and consumers rely heavily on digital advertising to sell products to the global market as part of their day to day commerce. As more companies look to expand their digital marketing reach, Adcore offers the ideal solution to leverage platforms such as Google, Facebook and Microsoft that are not directly accessible from China. We believe our presence on the Mainland, backed by our regional headquarters in Hong Kong, together with our platform's capabilities, will allow us to heighten our marketplace recognition and attract a larger share of the vital and growing businesses located in this region."
Adcore is empowering entrepreneurs, advertisers, and the future of e-commerce through its advertising management and automation platform. By combining extensive industry knowledge and experience with its proprietary artificial intelligence engine, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising, and monitoring and analyzing the performance of their advertising budget to ensure maximum Return on Investment. In addition to being named numerous times on Deloitte's Fast 50 Technology list, Adcore is a certified Google Premier Partner, Microsoft Partner, Facebook Partner and TikTok Partner.
Established in 2006, the Company employs over fifty people in its headquarters in Tel Aviv, Israel and satellite offices in Toronto, Canada, Melbourne, Australia and Hong Kong, Greater China.
For more information about Adcore, please visit https://www.adcore.com/investors/
This press release contains certain forward-looking statements, including statements about the Company. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information please contact:
Martijn van den Bemd,
GM North America
U.S. Investor Relations:
John Nesbett/Jennifer Belodeau
IMS Investor Relations
Canada Investor Relations
Virtus Advisory Group
ADCORE INC. https://www.adcore.com/investors/
2 Source: McKinsey & Company, China consumer report 2021, Understanding Chinese Consumers: Growth Engine of the World
SOURCE: Adcore Inc.
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