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NEW YORK, Sept. 13, 2021 /PRNewswire/ -- 91% of small businesses will engage in some form of digital marketing in 2021 in response to changing consumer behavior due to the COVID-19 pandemic. As small businesses seek to increase their digital marketing initiatives, they are turning to PaaS providers to increase their reach to consumers, thus pushing the demand for cloud-based services. In response, PaaS companies like Logiq Inc. (NEO:LGIQ) (OTCQX:LGIQ), Wix.com Ltd. (NASDAQ:WIX), Cardlytics (NASDAQ:CDLX), AcuityAds Holdings (NASDAQ:ATY), and Pinterest Inc. (NYSE:PINS) are providing tools and launching initiatives to support small businesses while providing value to shareholders and investors, as the PaaS market is expected to grow to $22.78 billion at a CAGR of 18.5% between 2021 and 2026.
Logiq Reports a Record Second Quarter as it Continues to Deliver Value to Customers
Ecommerce and fintech solutions provider Logiq Inc. (NEO:LGIQ) (OTCQX:LGIQ) reported a record second quarter with its revenues increasing sequentially by 3% to $8.3 million. Revenues from its Ecommerce marketing solution Data Logiq increased to 28.4% in Q2 2021 from 15.5% in Q2 2020.
The partnership with Mentalku in June was one of the operational highlights for Logiq. Through the partnership, Logiq will offer mobile payment services to driver license applicants across Indonesia. Logiq will integrate AtozPay™, its mobile payment solution, into Mentalku's mobile app to make it easier for Indonesians to pay for the psychological tests required to obtain a driver's license.
Logiq partnered with GumGum to provide Ecommerce marketers on Logiq Digital Marketing (LDM) platform with access to GumGum's contextual intelligence solution, Verity™.
With Verity, Ecommerce marketers can take advantage of a powerful solution that scans an entire digital media environment to provide a clear understanding of the overall context through text, images, audio, and video.
Before the partnership with GumGum, Logiq expanded its LDM platform to bring affordable media buying to Asia Pacific. With this expansion, small and mid sized agencies and brands have access to international consumers in the APAC region.
In a comment about the expansion to APAC, LDM's division president Manny Puentes said, "Our expanded reach to APAC with optimized time-to-delivery is another major value-add for our LDM clients, and reflects our ongoing efforts to further expand our global network."
With this partnership, small and medium-sized agencies and brands can compete with large organizations at a fraction of the cost.
These Companies are Helping Small Businesses Build their Brands as they Recover From the Effects of the Pandemic
VisaPrint, a world leader in small business solutions for design, print, and marketing needs chose Wix.com Ltd. (NASDAQ:WIX), a SaaS provider, as the technology layer to help millions of VisaPrint's customers to create, manage and grow their businesses online. The partnership will allow VisaPrint's 17 million customers to utilize various tools on Wix to build their business brand and presence online and offline. This partnership also presents an opportunity for Wix to grow its subscriptions and work towards its goal of powering 50% of new things on the internet in the next five to seven years.
Digital advertising platform Cardlytics (NASDAQ:CDLX) released its Q2 2021 financial results reflecting an increase in monthly active users to 167.6% million, a 7% increase from Q2 2020. With an increase in users came an increase in total revenue with Cardlytics reporting a 109% YoY increase to $58.9 million compared to $28.2 million in Q2 2020. The company's average revenue per user for the quarter was $0.34, an 89% increase from Q2 2020 ($0.18). Cardlytics also recorded an increase of 111% in billings to $83.2 million while the Cardlytics platform revenues increased by 101% to $56.8 million.
AcuityAds Holdings (NASDAQ:ATY) also saw an increase in revenue for its 2021 second quarter. Acuity delivered total revenue of $30.3 million, a 54.9% increase YoY, and a 145% Adjusted EBITDA. The revenue growth was mainly due to the company's advertising automation platform illumin which generated $5.2 million in Q2 2021, an increase of 60% from the first quarter. The company expects illumin to continue growing in the third quarter as the demand for the platform remains robust with its sales pipeline reflecting strong growth.
Pinterest Inc. (NYSE:PINS) has also shown its support for small businesses through collaboration with American Express to help small businesses through The Comeback Edit on Pinterest Shop. The Comeback Edit was developed to help Pinterest users support small businesses by featuring more than 20 merchants. Other than The Comeback Edit initiative, Pinterest also introduced new ways for creators to earn, partner with brands, and interact with their audiences in a positive environment.
Companies like Logiq continue to identify new ways to help small businesses and brands reach consumers by providing affordable services and tools to support their digital marketing initiatives.
For more information about Logiq Inc. (NEO:LGIQ) (OTCQX:LGIQ), click here.
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