MiMedia has built one of the most exciting new consumer cloud technology platforms in the world. And now, they are launching it into the United States for the first time.
What’s happening:
- Consumer cloud technology company MiMedia (TSXV: MIM) has launched the first ever integration for their cloud technology in the United States with smartphone manufacturer Schok Wireless
The big idea:
- MiMedia has built a leading edge consumer cloud technology platform that is able to be installed on any type of device and seamlessly integrate with telecommunications companies and device manufacturers globally
- MiMedia generates revenue from their consumer cloud platform through both storage subscriptions and mobile advertising
- Instead of attempting to capture all of the revenue generated from their consumer cloud technology, MiMedia partners directly with the device manufacturers and telecommunications companies in revenue sharing agreements
Why it matters:
- The consumer cloud opportunity has been an enormous source of profitability for technology giants such as Apple (NASDAQ: APPL), Google (NASDAQ: GOOG) and Meta Platforms (NASDAQ: META) but there has not yet been a device agnostic technology company focused on partnering with telecommunication companies and device manufacturers who have significant distribution globally to share in the revenue upside
By the numbers:
- MiMedia has invested more than $50M CAD into the research and development of their leading edge consumer cloud technology
- Since inception, MiMedia has had 16 separate patents granted around their proprietary technology
- MiMedia currently has existing contracts to integrate their cloud technology onto 35M smartphones globally within the next 24 months
Going deeper:
- Schok Wireless is one of the fastest growing emerging players in device manufacturing in the United States and has wireless partnerships with Verizon, T-Mobile and others
- MiMedia’s existing partnerships include leading global telecommunications companies and device manufacturers in Mexico, Latin America and the United States of America
