VANCOUVER, B.C., Feb. 17, 2022 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI: TSXV FOBIF: OTCQB) (the “Company” or “FOBI”), a leader in providing real-time data analytics through artificial intelligence to drive operational efficiencies and profitability, today announced the relaunch of the Grocery Coupon Network (GCN) website at www.grocerycouponnetwork.com .

GCN is a key asset that Fobi inherited as a result of the successful completion of the Qples acquisition . GCN was originally launched back in 2009 and quickly became one of the fastest-growing and top-ranking grocery coupon websites online.

GCN currently has:

• 231,164 active newsletter subscribers.
• 133,000 Facebook likes, 91% of which are from women and 97% are from the US, both demographics that CPGs are looking to target.
• Over 14 million visitors since January 2016.
  
  

GCN provides direct access for CPG brands to connect directly to millions of coupon lovers through a website designed to help users find relevant products and coupons of interest.

MOVING FORWARD GCN & QPLES WILL GROW TO BE A KEY ELEMENT OF THE FOBI RETAIL ECOSYSTEM THANKS TO THE NEW 8112 COUPON STANDARD

Qples by Fobi is one of the only organizations currently that can provide both digital and print at home coupons based on the new 8112 Universal Coupon Standard from The Coupon Bureau (TCB) that can be redeemed via a mobile phone and which significantly reduce the chance of coupon fraud.   These new coupons will be offered through GCN, the GCN App and through GCN affiliates.

Eddy Watson, President of Qples by Fobi stated, “We are excited to re-launch the Grocery Coupon Network website which plays a critical role in our coupon ecosystem by giving consumers a destination for discovering, saving, and organizing existing Qples coupons and upcoming Universal Digital Coupons.  With the combined capabilities of GCN, the Qples Builder Manager Coupon Portal, and Fobi Wallet pass capabilities, we are poised to deliver a comprehensive solution to clients that allow them to easily reach their own consumers in ways they never have before.”

FOBI ANTICIPATES SIGNIFICANT REVENUE GROWTH AND HIGH ARPU AS A RESULT OF THE GCN RELAUNCH AND OPTIMIZATION

Fobi calculates the value of the various communities that they are building using the Average Revenue Per User metric or ARPU. ARPU is a formula used to calculate the average revenue received per user over a period of time. Fobi expects an ARPU of $3-5 per user to start, however, they anticipate this growing to $10-$15 per user once Qples and GCN have been fully integrated with Fobi’s Wallet Pass solution.

Fobi is already executing on a plan to further enhance the product and value proposition through offering the GCN coupon community real-time analytics and insights along with direct delivery of coupons to Fobi Wallet passes. Fobi will also provide an enhanced user experience, and the CPG Brands will benefit from the Fobi data and the ability to access the GCN coupon community.

Fobi has also launched a project to increase the size of the GCN coupon community, which will increase the revenue per deal for CPG deals moving forward.  Fobi will grow the GCN community by highlighting the launch of the new 8112 universal standard coupons, together with new promotions that provide increased value to the community and new marketing campaigns that will highlight the benefits of GCN.

Rob Anson, CEO of Fobi stated, “I am on record as stating that the Qples acquisition was a key strategic piece of the puzzle and will ultimately become one of our largest sources of revenue. With this relaunch and as we complete our full integration over the coming months, our shareholders will soon understand and realize what I was so bullish about.”

This press release is available on the Fobi website , and also on the Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement.

About Fobi
Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.
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Forward-Looking Statements/Information:
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward- looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans , operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.

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