Engagement Labs (
TSX: V.EL,
Stock Forum) made significant progress in increasing its North American market footprint when the company announced today that it had secured a major partnership agreement with New York-based accelerator, TOMORRO\\\.
According to the
news release, the agreement was reached in order to aggressive push adoption of the eValue social media marketing scoring system in the U.S. market.
Companies are rapidly increasing their advertising dollars toward social media platforms all around the world. Business Intelligence released data indicating that American business has upped social media ad spend 40% between 2013 and 2014 with totals expected to hit $9.58 billion in 2015.
Company CEO, Bryan Segal, commented, “As we enter into the U.S. market, we are confident that TOMORRO\\\ will be the partner we need to provide marketers with an in depth way to measure social media performance and show the currency of our eValue social marketing tool. Jon Bond, a pioneer in the digital marketing industry, has a proven track-record in the U.S. through his years of experience as a trailblazer for disruptive marketing techniques.”
Jon Bond, Chief Tomorrist at TOMORRO\\\, added, “During my career, I've seen countless new technology solutions in the advertising and marketing space, and the eValue tool is one that's quickly gaining market traction. I look forward to aligning TOMORRO\\\ with this tool that has the ability to effectively measure brands' global social media footprint and provides decision makers with the data to understand their social media performance.”
The company already has a presence in Canada, Mexico and France and will now seek to expand its footprint in the U.S. which is estimated to control a major slice of the $23.68 billion spent globally on social media advertising in 2015.
Bryan Segal concluded, “Adding a New York City office to our network only reinforces our global brand and provides another avenue to position Engagement Labs as the global benchmark for social media measurement.”
Engagement Labs was in the news recently when
the Toronto-based company announced granting options to its Directors at the beginning of April.
Shares climbed 5.00% on the news to $0.63 per share.
Currently there are 37.2m outstanding shares with a market cap of $23.4 million.
FULL DISCLOSURE: Engagement Labs is a Stockhouse Publishing client.