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CloudCommerce to Launch Artificial Intelligence (AI) Advertising Venture – GlobeNewswire

SAN ANTONIO, Jan. 08, 2021 (GLOBE NEWSWIRE) — CloudCommerce, Inc. (CLWD), a leading provider of digital advertising solutions, today announced that it plans to launch an artificial intelligence (AI) venture that will focus on using AI to enhance its successful SWARM solution with the goal of cutting advertising costs by as much as 50%.“The tools are now available to do what humans cannot do,” said Andrew Van Noy, Cloud Commerce’s CEO. “Our SWARM solution has met with great client success, which has encouraged us to take the next step – using state-of-the-art tools, such as AI to eliminate inefficiencies that could potentially reduce the costs of advertising by as much as 50%.” Mr. Van Noy continued, “I am reminded of John Wanamaker (1838-1922), a very successful merchant, who opened one of the first department stores in the US, which grew to 16 stores and eventually became part of Macy’s. He is credited with coining the phrase ‘Half the money I spend on advertising is wasted; the trouble is I don’t know which half’. Our mission is to search the unknown and cut out as much of the waste as we possibly can.” Mr. Van Noy concluded, “We believe that the best way to achieve success is to launch a separate venture that is dedicated to achieving this goal. We will provide this new venture with the resources necessary to employ the best people and tools. Digital advertising is an enormous industry. We think that by marrying artificial intelligence with digital advertising, we will produce a winner.” About CloudCommerce CloudCommerce is a leading provider of digital advertising solutions. Our flagship solution, SWARM, analyzes a robust mix of audience data to help businesses find who to talk to, what to say to them, and how to market to them. We do this by applying advanced data science, behavioral science, artificial intelligence, and market research techniques to discover, develop and create custom audiences for highly targeted digital marketing campaigns. Forward-Looking Statements This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual report on Form 10-K for the year ended December 31, 2018. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.