VERB Achieves Major Growth Milestone
NEWPORT BEACH, Calif. and SALT LAKE CITY, Feb. 26, 2020 (GLOBE NEWSWIRE) -- VERB Technology Company, Inc. (NASDAQ: VERB) ("VERB" or the "Company"), a leader in business-focused interactive video Webinar, CRM, marketing, and sales enablement applications, announced that it has officially surpassed one million provisioned users for its interactive video-based CRM platform. The increase to one million users amounts to nearly double the total user count compared to the same period last year.
“This is a major milestone for our Company, an impressive achievement for our management team, and represents an opportunity for meaningful value creation for ourselves and our stockholders that we intend to pursue aggressively this year,” states VERB CEO, Rory J. Cutaia. “As we have shared in our earnings calls and filings, we have been developing and now deploying in-app subscription purchasing capabilities, allowing our users to purchase and subscribe for enhanced features and functionality directly through the app. Some of those features and functionality include the ability to quickly arrange for the delivery and tracking of product samples to customers and prospects anywhere in the world; to subscribe to our content-rich LEARN application features; the ability to create and share interactive videos with enhanced analytics and engagement tracking capabilities; and coming soon, VERB LIVE, our ground-breaking live broadcast, interactive video webinar application; all of which contribute to what our clients say is the most effective, affordable, and easy to use sales tools platform available in the market today.”
“But this is where it gets really interesting. Each of these features will have a monthly recurring subscription fee associated with it that is expected to range from as low as $0.75 per user per month, to as much as $25 per user per month. These fees are in addition to the monthly subscription fees currently paid by corporate for their sales reps’ use of the platform. What’s most exciting about these initiatives, is that we will be able to offer these revenue generating features to our users directly, allowing us to monetize this massive and rapidly growing user base in ways we were unable to do until now. It’s going to be a busy year for Team VERB.”
As of February 25, 2020, VERB apps had 17,329 Apple App Store and Google Play Store ratings, 15,308 of which are five-star reviews.
VERB Technology Company, Inc. (NASDAQ: VERB) is rapidly emerging as the market leader in interactive video-based customer relationship management ("CRM") sales and marketing applications. With offices in California and Utah, VERB provides next-generation CRM, lead generation, sales enablement, and video marketing software applications to sales-based organizations in 60 countries and in 48 languages. The Company's proprietary and patent-pending technology platform produces real-time, measurable results with some customers reporting greater than 600% increases in conversion rates. The Company's Software-as-a-Service (SaaS) products are cloud-based, accessible on all mobile and desktop devices, and are available by subscription for individual and enterprise users. The Company's technology is also being integrated into popular ERP, CRM, and marketing platforms, including Salesforce and Microsoft, among others. For more information, please visit: verb.tech.
Forward-Looking and Cautionary Statements This press release may contain “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In accordance with the safe harbor provisions of this Act, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the Company’s actual results. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, and other filings with the U.S. Securities and Exchange Commission (available at www.sec.gov). The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.
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Investor Relations Contact: Matt Glover and Tom Colton Gateway Investor Relations 949.574.3860 VERB@gatewayir.com