Grove Enters AI Industry in a Strategic Partnership With Alfi
HENDERSON, NV, Aug. 18, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Grove Inc. (the “Company” or “Grove”) (NASDAQ: GRVI), the Nevada company engaging in the research, manufacturing, distribution, and marketing of CBD and hemp wellness-based products, today announced they have partnered with Alfi (Nasdaq: ALF) to leverage their AI enterprise SaaS platform and launch Grove’s biggest advertising campaign to date.
The campaign will come to life on the Alfi digital tablets installed in Uber and Lyft rideshares servicing 12 major markets.
Alfi engages in creating interactive digital out-of-home advertising experiences. It uses computer vision and patented and proprietary AI models to identify the viewer’s key demographics such as gender, location, age, and interests, all in real time. It’s then able to serve up tailored content that is most relevant to the user and targeted by the advertiser.
The platform is expected to help Grove reach a larger audience than ever before, all while delivering better targeting, increased engagement, and optimized ROI.
Grove has positioned itself as a leader in the hemp space and aims to further separate itself by investing in innovative technology to monetize relevant audiences, rather than relying on typical digital media buys in an industry that still has restrictions on mainstream advertising channels (i.e Google, YouTube, Facebook, etc.).
Allan Marshall, Chief Executive Officer of Grove, stated, “We hope this turns into a nationwide advertising partnership with Alfi. Grove, like all companies in the space, remains restricted to mainstream advertising availability, so focusing on technology solutions and leveraging Alfi’s unique ad platform should further growth across all our brands. This launch of our first DOOH ad campaign sets the foundation for future investments in advertising technology solutions, which will be paramount for an industry that still has conventional advertising restrictions.”
More than an DOOH campaign, this partnership with Alfi represents Grove’s “technology first” mindset to increase reach, make smarter decisions, and potentially become the trojan horse that reshapes the advertising landscape of the industry.
Grove, Inc. is in the business of developing, producing, marketing and selling raw materials, white label products and end consumer products containing the industrial hemp plant extract, Cannabidiol (“CBD”). The Company sells to numerous consumer markets including the botanical, beauty care, pet care and functional food sectors. It seeks to take advantage of an emerging worldwide trend to re-energize the production of industrial hemp as well as vitamins and to foster its many health and wellness uses for consumers.
About Alfi Inc.
Alfi, Inc. provides solutions that bring transparency and accountability to the digital out of home advertising marketplace. Since 2018, Alfi, Inc. has been developing its artificial intelligence advertising platform to deliver targeted advertising in an ethical and privacy-conscious manner. For more information, please visit: https://www.getalfi.com
This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with business strategy, product development, integration and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our registration statement on Form S-1 and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Phone: (702) 332-5591
Investor Relations Contact
Phone: (917) 658-2602