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Shopify Inc TSX: SHOP-T

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Why Tech Stocks That Help Companies Grow Are Expected to Continue Their Dominance in 2021

PR Newswire - PRF - Mon Jan 11, 7:45AM CST
  

NEW YORK , Jan. 11, 2021 /PRNewswire/ --The health crisis has accelerated the inevitable shift towards digital technology and it's become clear that companies with the right tools are leading the charge. When businesses were forced to shut their doors during lockdowns, digital tools quickly became essential, creating an exciting opportunity for companies offering digital solutions of all kinds. Zoom Video Communications (NASDAQ:ZM) and Slack Technologies (NYSE:WORK), which is being acquired by Salesforce (NYSE:CRM), quickly became the go-to communication platforms. At the same time, Shopify Inc. (NYSE:SHOP) (TSX:SHOP.TO) is helping businesses sell their merch online amid closures, while BBTV (TSX:BBTV.TO) is continuing to help both businesses and influencers increase viewership and drive revenue from their content.

Digital media tech company BBTV (TSX:BBTV.TO) has built a multi-million dollar business by helping content creators grow their audiences and generate revenue from their content. The company went public on the Toronto Stock Exchange in October and has continued to sign new deals and grow its offerings since.

On January 11 , BBTV announced the launch of its new Video Comparison analytics solution, which helps its content partners compare content from their library to see how one piece of content performs against another. The new tool informs content strategy for content creators, and is a great addition to the existing suite of solutions that helps creators grow their viewership and revenue.

BBTV's  technology-enabled solutions helped it reach new record highs in 2020 and growth is likely to continue as the company signs deal after deal. In December alone, BBTV signed new SaaS content management agreements with both the NBA and Canada Media Fund (CMF) , and secured several paid direct advertising branded entertainment campaigns across consumer verticals like gaming, entertainment, food, and fashion. In November, the company announced the signing of new international gaming partners who collectively achieve 217 million monthly video views and boast over 23 million subscribers.

Last month, BBTV also launched two successful apps: Dobre Duel and Fernanfloo Party, which was launched in partnership with top international content creator, Fernanfloo . Fernanfloo's debut app with BBTV hit #1 in 17 countries within 24 hours on iOS and Android, garnering over 14.6 million downloads.

Tech Stocks Offering Business Solutions Continue to Shine

When the COVID-19 pandemic swept the globe, businesses of all sizes had to readjust to the new norm and adopt new tools into their daily operations. With widespread lockdowns and tight restrictions, it quickly became clear that digital tech companies were not only pandemic-proof, but had the ability to grow significantly during tough times.

With businesses forced to close down brick and mortar locations during statewide lockdowns, many turned to e-commerce provider Shopify Inc. (NYSE:SHOP) (TSX:SHOP.TO) to stay afloat. The platform also offered jobless individuals the opportunity to become their own business owners. In May, the company bolstered its offerings with Shopify Balance, which includes a digital bank account, a debit card, and rewards and cashback services, and Shop Pay Installments, enabling the "buy now, pay later" option at checkout. In Q3, Shopify reported a 96% increase in revenue YoY and saw about 37,400 partners refer a merchant to the platform over the previous 12 months.

Unsurprisingly, video communications provider Zoom Video Communications (NASDAQ:ZM) is another company that fared extremely well last year and is expected to continue growing in 2021. In late November, the company reported a 367% revenue increase in Q3 year-over-year, reaching $777.2 million . Zoom also reported a GAAP net income attributable to common stockholders of $198.4 million , or $0.66 per share, for fiscal Q3 2021.

Slack Technologies (NYSE:WORK)  is another business communication platform that has completely taken off during the COVID-19 pandemic. The company increased its revenue by 49% to $215.9 million in the second quarter. Then in Q3 2020, Slack brought in $234.5 million in total revenue and reported that over 64,000 paid customers were using Slack Connect, up from over 52,000 at the end of Q2.

On December 1 , global CRM leader Salesforce (NYSE:CRM) revealed that it signed a definitive agreement  to acquire Slack . The deal, which will see Slack shareholders receive $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share, represents a value of approximately $27.7 billion .

In the 12 months ended October 2020 , BBTV increased its direct advertising sales revenue by 46% compared to the previous year. The company also achieved 615 million unique monthly viewers globally, making it second only to Google . BBTV reported record Q3 2020 revenues of $120.7 million , a 31% increase year over year.

For more information on BBTV (TSX:BBTV.TO) , please visit this link .

Disclaimer:  Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of BBTV Holdings Inc.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

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info@financialnewsmedia.com  
+1(561)325-8757

 

Cision View original content: http://www.prnewswire.com/news-releases/why-tech-stocks-that-help-companies-grow-are-expected-to-continue-their-dominance-in-2021-301204884.html

SOURCE Microsmallcap.com

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