PaaS Stocks Boom as Demand from Small Businesses Increased

FN Media Group Presents Microsmallcap.com Market Commentary

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."