- Collaboration to focus on intelligent image and video-based
search, targeted brand advertising for sharing economy apps
HONG KONG, Feb. 8, 2018 /PRNewswire/ -- Sharing Economy
International, Inc. ("SEII" or "the Company") (NASDAQ: SEII) today
announced that its wholly-owned subsidiary, EC Technology &
Innovations Limited ("ECTI"), has entered into an exclusivity
agreement with the shareholders of Pandoodle Corporation
("Pandoodle"), regarding a potential acquisition by ECTI of not
less than 51% of Pandoodle.
Pandoodle provides video and imaging solutions that increase
advertising value through artificial intelligence ("A.I."), video
and image analysis and recognition technologies. Pandoodle offers
Dolo, a Software-as-a-Service (SaaS) platform that automates the
analysis and insertion of branded content, providing advertisers
and publishers with personalized branding in real-time. Pandoodle's
custom software solutions, deep analytics, and image and video
capabilities allow content owners to incorporate brand placement
slots within their videos.
"I was so excited when I first met with Pandoodle and learned
about their technologies. Their intelligent video and imaging
analysis and recognition technologies provide very targeted
solutions, both in intelligent search and matching and the brand
advertising market," said Parkson
Yip, COO of SEII. "With intelligent image and video
recognition technologies from Pandoodle, users on our sharing
economy apps and platforms can search by image or video and we can
provide them with the best matches available. With the
proliferation of video and image content available today, video and
image-based searching provide a convenience for users to locate
items based on what they see. In addition, there is a significant
potential market opportunity to extend targeted brand advertising
onto any image and video content when users are browsing online or
on social media. This will allow brand advertisers reach their
target customer group very precisely with high frequency,
independent from the media platform. Furthermore, our advertising
and media business unit can collaborate with Pandoodle to develop
new and creative brand exposure advertising solutions. More
important is the highly experienced management and leadership team
at Pandoodle, which we expect will help accelerate adoption of
SEII's sharing economy solutions and platforms as we move into the
US market."
"I am thrilled for the opportunity to work with SEII, an
international sharing economy company, which has the same vision
and objectives as we do for the advancement of technology," said
Dirk Brown, Founder and CEO of
Pandoodle. "By partnering with the SEII group, we can join a group
of entrepreneurs and innovators to further expand and apply our
video and imaging A.I. technologies in more applications and
markets. Alongside SEII's own advertising and media development
initiatives, we can work together to build a new targeted
advertising platform based on video and imagine insertion. On the
other hand, we are also very interested in supporting the
introduction of SEII sharing economy platforms and solutions to the
US market. I believe this will truly be a win-win collaboration for
both companies."
There can be no assurances that the parties may enter into any
agreement to do a transaction, and even if an agreement is entered
into, there can be no assurances that such transaction will be
consummated.
About Sharing Economy International Inc.
Sharing Economy International Inc., through its affiliated
companies, designs, manufactures and distributes a line of
proprietary high and low temperature dyeing and finishing machinery
to the textile industry. The Company's latest business initiatives
are focused on targeting the technology and global sharing economy
markets, by developing online platforms and rental business
partnerships that will drive the global development of sharing
through economical rental business models. Moreover, the Company
will actively pursue blockchain technology in its existing and
to-be-acquired business, enabling the general public to realize the
beauty of resource sharing. For more information visit
www.seii.com.
About Pandoodle Corporation
With offices in San Francisco,
Silicon Valley, Los Angeles,
New York, and Columbia, SC, Pandoodle develops and
implements technologies that make media more valuable. Pandoodle
also develops and implements technologies that power video games,
personalizable animation, transmedia solutions, amusement park
attractions, and other media products. In aggregate, the Pandoodle
team has built more than nine new ventures, holds more than thirty
patents, and has won six Emmy awards. For more information visit
www.pandoodle.com.
Safe Harbor Statement
This release contains certain "forward-looking statements"
relating to the business of the Company and its subsidiary and
affiliated companies and certain potential transactions that they
may enter into. These forward looking statements are often
identified by the use of forward looking terminology such as
"believes," "expects" or similar expressions. Such forward looking
statements involve known and unknown risks and uncertainties that
may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on its website, including factors
described in "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in our
Form 10-K for the year ended December 31,
2016 and in our Form 10-Q for the quarter ended September 30, 2017. All forward-looking
statements attributable to the Company or to persons acting on its
behalf are expressly qualified in their entirety by these factors
other than as required under the securities laws. The Company does
not assume a duty to update these forward-looking
statements.
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SOURCE Sharing Economy International, Inc.