Alfi onboards major brand for its DOOH platform that could be worth millions
Utilizing Alfi's digital advertising platform, Grove can reach targeted audiences in Uber and Lyft rideshares
MIAMI BEACH, FL and HENDERSON, NV / ACCESSWIRE / August 18, 2021 /Alfi, Inc. (NASDAQ:ALF) ("Alfi" or the "Company"), an AI enterprise SaaS platform company powering computer vision with machine learning models to allow content publishers and brand owners to deliver interactive, intelligent information without violating user privacy, and Grove, Inc. (NASDAQ:GRVI) ("Grove" or the "Company"), redefining the way hemp is bought, produced, and sold, today announced they have partnered to launch a campaign aimed at building consumer awareness of Grove's Cannabidiol ("CBD") products for the botanical, beauty care, pet care and functional food sector.
The campaign will come to life on the Alfi digital tablets installed in Uber and Lyft rideshares servicing 12 major markets. It is the first time Grove has activated a DOOH campaign through advertising inventory bought through Alfi. Alfi's platform is expected to provide Grove with better targeting, decision making and campaign flexibility, while enabling them to pause, adjust, restart and optimize campaigns mid-flight, which enables efficiencies in media spend and optimized ROI.
Allan Marshall, Chief Executive Officer of Grove, stated, "We hope this turns into a multi-million-dollar partnership with Alfi. Grove, like all companies in the space, remain restricted to mainstream advertising availability, focusing on technology solutions, and leveraging Alfi's unique ad platform should further growth across all of our brands. This launch of our first DOOH ad campaign sets the foundation for future investments in ad tech, which will be paramount for an industry that still has conventional advertising restrictions."
Analysts predict that out-of-home will be among the fastest-growing channels in 2021 and that programmatic DOOH will grow by nearly 100 percent. Additionally, according to eMarketer, 42 percent of all U.S. outdoor ad spending will come from DOOH by 2023.
"Alfi's DOOH platform provides brands immense flexibility and efficiency to deliver their targeted messages to audiences to help drive revenue as quickly as possible," said Paul Pereira, CEO of Alfi. "This partnership is clear evidence of our commitment to helping brands, who are becoming more data-driven, make smarter decisions and demonstrate the link between their media investment and real-world outcomes. As a medium, DOOH is the most effective way to reach mass audiences and engage consumers throughout their real-world journeys with high frequency and at low cost. This channel marks a real leap forward for brands and we look forward to helping our clients reap the benefits in ways that haven't been possible before."
Alfi creates relevant and interactive digital out-of-home ("DOOH") advertising experiences, delivering the content to the end-user ethically and respectfully, while offering DOOH advertisers a never-before-seen precision in DOOH targeting. By utilizing Alfi's technology, advertising customers gain powerful reach, dynamic visuals, and tailored message capability by age, gender, geography, customer emotion, brand behavior and interests, all in real-time. Alfi's computer vision can change and run ads remotely to deliver the right content, to the right person, at the right time in an ethical, respectful, responsible and privacy-compliant manner.
About Grove, Inc.
Grove, Inc. is in the business of developing, producing, marketing and selling raw materials, white label products and end consumer products containing the industrial hemp plant extract, Cannabidiol ("CBD"). The Company sells to numerous consumer markets including the botanical, beauty care, pet care and functional food sectors. It seeks to take advantage of an emerging worldwide trend to re-energize the production of industrial hemp and to foster its many uses for consumers.
About Alfi Inc.
Alfi, Inc. provides solutions that bring transparency and accountability to the digital out of home advertising marketplace. Since 2018, Alfi, Inc. has been developing its artificial intelligence advertising platform to deliver targeted advertising in an ethical and privacy-conscious manner.
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
