STOCKHOLM, June 9, 2020 /PRNewswire/ -- On April 6, 2020, Bambuser signed a pilot agreement with one of the world's largest and most established beauty companies, with a portfolio of nearly 30 prestigious brands. The pilot agreement communicated on April 6, 2020 gave the customer the right to use Live Video Shopping at a fixed cost of USD 35,000 (approximately SEK 357,000*) per brand during a pilot phase for six of the customer's brands with a total value of USD 210,000 (approximately 2.1 million SEK*).
Bambuser AB has now entered into an agreement with the customer.
The new agreement is valid for 12 months upon activation of each brand and allows the brand to use Live Video Shopping in desired markets. The new agreement is active from 1 July 2020 and is concurrent with the existing and active pilot agreements until their respective expirations. Bambuser undertakes to provide the Live Video Shopping in multiple languages.
Bambuser can not estimate the value of the agreement, as it consists, of a number of variable parameters that are measured monthly. These parameters include the number of activated brands, views, languages, and any additional services.
- The agreement is of a great importance and a breakthrough for Bambuser in the US market which will put Live Video Shopping on the global map, says Maryam Ghahremani, CEO of Bambuser.
This is information that Bambuser AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was sent for publication, through the agency of the contact persons set out below, on 9 June 2020.
* The calculation was based on the exchange rate of USD 1 = SEK 10.19 on April 5, 2020 (Source: Google Finance).
Maryam Ghahremani, CEO | +46-8-400-160-02 | [email protected]
or visit bambuser.com/ir
Erik Penser Bank AB | +46-8-463-83-00 | [email protected]
Bambuser was founded in 2007 as the world's first company with a platform for interactive mobile live video broadcasting and is a leading supplier in the live video segment. In 2019, Bambuser introduced Live Video Shopping, which enables live shopping directly on the brand's website. Bambuser is listed on the Nasdaq First North Growth Market and is headquartered in Stockholm.
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