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Global investors back fintech KTrade - the ‘Robinhood’ of Pakistan

Stockwood Strategy

Leading Pakistani fintech stock trading app KTrade today announced it has raised $4.5m in a funding round from a range of global investors and institutions led by Hong Kong-based TTB Partners, and HOF Capital from New York. German fintech investor Christian Angermayer, the Managing Partner of German bank Berenberg David Mortlock, and leading Pakistani business families also participated in the round. KTrade is the fintech retail trading app created by KASB Securities, the leading stock brokerage in Pakistan. KTrade provides easy access to financial markets for retail investors much like its global peers such as XP in Brazil, Zerodha and Groww in India, Tiger in China, Flatex in Germany and Robinhood in the US. Since launching in 2019, KTrade has over 200,000 users and aims to reach 10 million Pakistani’s at home and abroad by 2023 to invest in stocks, bonds, commodities and mutual funds through its mobile platform. The Karachi Stock Exchange Index (KSE100) has rallied by 19% per annum over the past 20 years despite regular market cycles. The volumes have increased by 7x over the last 18 months driven by regulatory reforms and increase in retail investor participation. Retail investors now account for over 65% of overall trading volume compared to around 45% 24 months ago. KTrade aims to provide users quick and easy accessibility to this investment opportunity. Ali Farid led the creation of KTrade. He was previously the CFO of UK listed fintech company SafeCharge (acquired by Nuvei) and a Partner at Autonomous Research (acquired by Alliance Bernstein) in London. Ali is a Rhodes Scholar and has been a top ranked Technology Analyst in Europe since 2013. Ali Farid, Co-founder of KTrade commented: “People in Pakistan have traditionally turned to gold or real estate when they consider investment options. However, as the regulatory approach, authority and credibility of the Karachi Stock Exchange has grown, more people are getting comfortable with stock market investing. This is an exciting trend but accessibility to these markets remains a hurdle for millions. KTrade will enable this mobile-first population to participate in the investment opportunity. By connecting these people to companies we can drive capital trapped in unproductive assets into the formal economy which would eventually drive a virtuous cycle of economic growth and higher investments”. Pakistan is emerging on the radar of global investors as the next Indonesia. A large, young and growing middle class and high smartphone penetration have created ideal conditions for technology led disruption. KASB’s aim is to provide retail savers access to financial education, information and financial products and to help them make better financial decisions. “Most people in Pakistan lack access to formal financial products and their savings in real estate or gold offer inferior returns, are inefficient and have high transactional costs. We aim to democratise access to the capital markets and enable them to make stock market investments. The strong demand for KTrade shows that the market is ready for this transformation. Other regional and emerging markets have seen similar evolution led by successful fintech companies” added Ali Farid. “Pakistan and South Asia have some of the most exciting market dynamics and demographics globally, and KTrade is well positioned to take advantage of the democratisation of finance in the region” said Jonathan Bond, Managing Partner TTB Partners who were lead investors in the funding round. “We are delighted to be investing in the latest round of funding for KASB, and to support Ali and his first-class team on their continued journey. We have been extremely impressed by what KASB has built over the past few years, both from a tech perspective and from the educational overlay to investing, which the company has embraced. In particular, we believe that in KTrade, the company has a stellar solution to expanding stock market participation across Pakistan” added Jonathan Bond. About KASB Securities KASB is the leading stock brokerage in Pakistan. It is a member of the Pakistan Stock Exchange and Pakistan Mercantile Exchange and regulated by the Securities and Exchange Commission of Pakistan. KASB’s mission is to democratise investments by giving people in Pakistan easy access to financial information, education and products. It operates KASB Varsity, an online MOOC, and KTrade, the leading stock trading application in Pakistan. KASB’s goal is to channel capital to financial markets by broadening the breadth of the capital markets. Further information visit: https://kasb.com or follow the company on LinkedIn, Facebook, Twitter or Instagram and through YouTube. Contact Details Stockwood Strategy Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://kasb.com/ktrade/

June 07, 2021 07:00 AM Eastern Daylight Time

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SIGMA America Announces Focused on the Fight 2021 Charitable Giving Campaign

SIGMA CORPORATION OF AMERICA

SIGMA Corporation of America, a leading camera and lens manufacturer for both photography and cinema applications, is pleased to announce Focused on the Fight 2021. From May 31 through June 30, 2021, 5% of all sales at twenty-four participating retail partners will be donated to four charitable organizations, selected for their ongoing commitment to aiding communities most impacted by the COVID-19 pandemic. In 2020, Focused on the Fight raised over $93,000 for charitable organizations across the United States in partnership with eighteen participating retail partners, and this year, the campaign continues its mission to help provide aid to the communities that need it most. Focused on the Fight 2021 continues the commitment on SIGMA America’s part to community well-being, and funds raised during the campaign will be divided equally among the following charities: Feeding America, Mental Health America, the National Alliance to End Homelessness, and Donors Choose. Each of these charities was selected based on their missions of community well-being. "Since the beginning of the COVID-19 crisis, photography has been an outlet for people to express themselves, and to celebrate the strength of humanity in our communities," says Mark Amir-Hamzeh, president of SIGMA America. "Our nationwide network of retailers are strong members of their local communities, and with their help – and the support of SIGMA fans – we can offer some measure of relief to their neighbors, and to people across the nation who need a helping hand." The participating dealers include: Arlington Camera B&C Camera Bedford Camera & Video Camera Casino Dodd Camera Glazer's Camera Hot Rod Cameras Hunt's Photo & Video Kenmore Camera Midwest Camera Milford Camera Murphy's Camera Pixel Connection Precision Camera PROCAM Pro Photo Supply Roberts Camera Rockbrook Camera Samy's Camera Schiller's Camera The Camera Company The Camera Exchange The Camera Mall The Camera Shop of Muskegon For the most up-to-date information on Focused on the Fight 2021, please visit: https://www.sigmaphoto.com/focused-on-the-fight-2021 Media Inquiries: Jack Howard / SIGMA.PR@sigmaphoto.com / 631 585 1144 ext. 1015 For information about SIGMA America, please visit sigmaphoto.com and SIGMA Blog for helpful information about our products. Follow SIGMA America on social media: SIGMA Photo: Facebook, Twitter and Instagram. SIGMA Cine: Facebook, Twitter and Instagram. About SIGMA Corporation Craftsmanship. Precision. Dedication. Since 1961, SIGMA has been devoted to the pursuit of advancing photographic technology. Unique to the industry, the family-owned business produces its high-quality, award-winning still photo and cinema camera lenses, DSLR and mirrorless cameras, flashes, filters and accessories from its state-of-the-art manufacturing facility located in Aizu, Japan. In 2012, the company introduced SIGMA Global Vision with three distinct lens lines: Art, Contemporary and Sports. Designed for industry camera mount systems including Canon, Leica, Nikon, Olympus, Panasonic, Sony and Sigma, each lens is handcrafted and tested in Japan to ensure a high-performance, premium product that is purpose-built to last. In 2016, the SIGMA Cine lens lineup was launched, further cementing SIGMA as an innovator in imaging engineering. Embodying the core optical DNA that has defined the SIGMA benchmark of excellence, SIGMA cine lenses meet the needs of advanced 6k and 8k cinema production. Forming the landmark L-Mount alliance alongside Leica and Panasonic in 2018, SIGMA continues its storied tradition of imaging excellence through groundbreaking innovations such as the native L-mount SIGMA fp full-frame mirrorless digital camera, announced in July 2019. The introduction of the fp along with the availability of 20 award-winning SIGMA Global Vision lenses in native L-Mount format demonstrates SIGMA's continued commitment to the creative community through expanded product offerings. With the fp and these lenses, even more shooters can now leverage SIGMA's renowned optical formula to achieve their creative vision with ease. Contact Details SIGMA Corporation of America Jack Howard +1 631-585-1144 SIGMA.PR@sigmaphoto.com

June 03, 2021 12:30 PM Eastern Daylight Time

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The Dyscommunication Crisis

Post Hill Press

We've only scratched the surface of the more profound impact of digital communication. I'll Get Back to You: the Dyscommunication Crisis, Sam George's new book explains what's causing the connectivity problems and offers concrete remedies for emails and texts. The issue isn't technology. Sam George says the true communication revolution is the end of an immediate feedback loop. Humans have used direct feedback to communicate for millennia. It is necessary for comprehension and understanding others. Everything can be understood and clarified on the spot. It provides a solid foundation for communication critical to relationships. The broken feedback loop causes the Dyscommunication Crisis. Anxiety, uncertainty, and misunderstanding replace the reassuring backbone of direct feedback. We are never sure if our message is read, fully understood, and whether it will be returned. You're waiting for a response from your boyfriend. Your supervisor is taking a long time to respond. You've texted your son all day and received no response. You revert to a worst-case scenario for them. The psychological impact is severe. According to polls, over 66% of people regularly experience anxiety, agitation, worst-case scenarios, and negative loops of thinking because of an unreturned email or text. Even if your message is returned, it is not always a complete loop. The message might be vague, or you may misinterpret it, resulting in similar issues. Unlike in the past, there's no quick input to clear things up. We are not wired for digital communication. Cognitive science supports this. The brain seeks immediate feedback so it can complete the patterns it uses to process information. When it cannot finish the loop, it forces us to resort to the worst-case scenario. It is conclusive and satisfies the mind’s need to complete a pattern. Much of the misunderstandings caused by emails and texts are in relationships. Examples and tips are addressed in chapters, which include dating, couples, family, jobs, and friends. I'll Get Back to you is a digital communication master plan that includes: 1) Tactics to ensure your messages are returned promptly. 2) Examples and tips to prevent miscommunication with partners, family, friends. 3) Tested methods to ensure your email will be read and completely understood. 4) Strategies for following up on unclear and unanswered messages. 5) Proven techniques to quickly stop the anxiety. www.dyscommunication.com If you would like to talk to Sam, or need information, please contact Lori Ames. Lori Ames President ThePRFreelancer, Inc. lori@theprfreelancer.com 631-539-4558 www.ThePRFreelancer.com I’ll Get Back to You: The Dyscommunication Crisis: Why Unreturned Messages Drive Us Crazy and What to Do About It by Sam George Post Hill Press Trade Paperback On-Sale: April 27 th, 2021 ISBN: 9781642937190 $18.00 US / $25.00 CAD Sam George is a writer and media consultant who specializes in digital marketing. He is co-author of the nationally acclaimed, The Great Divide: Retro vs Metro America, which defined the cultural divide between Red and Blue states. And envisioned the culture war of today. The book earned reviews in the New York Times, Newsweek, and the L.A. times. Contact Details President ThePRFreelancer, Inc. Lori Ames +1 631-539-4558 lori@theprfreelancer.com

June 03, 2021 08:05 AM Pacific Daylight Time

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CSG to Drive New Growth and Innovation for Vietnamobile

CSG

CSG to Drive New Growth and Innovation for Vietnamobile BRISBANE, June 3, 2021 – CSG ® (NASDAQ: CSGS) today announced a multi-year contract/relationship extension with Vietnamobile, one of Asia Pacific’s leading mobile operators. As Vietnamobile’s technology provider of choice, CSG will drive their customer billing, mediation and settlement operations to support the company’s accelerated growth and the introduction of new products and services. “Our rapid transition to digital mobile services across Vietnam is fueling an explosive wave of customer growth and demand,” said Christina Hui, CEO, Vietnamobile. “CSG has been our trusted technology provider for many years. We are excited to grow this relationship and leverage their leadership to help position us as the leading wireless services provider across Vietnam.” Since its inception more than a decade ago, Vietnamobile has become one of the fastest growing B2C mobile communications operators in the country. The company is fueling new growth by introducing innovative products to market faster and focusing on best-in-class customer experiences. “Vietnamobile continues to lead the Vietnam market by selecting the best-in-class technology that allows it to innovate and offer superior customer experiences,” said Ian Watterson, head of CSG’s Asia-Pacific business. “We are proud to be Vietnamobile’s strategic technology provider and stand ready to support their growth and demand for innovative digital services.” Leading telecommunications companies across Asia-Pacific and the world rely on CSG to monetise new offerings and protect and maintain existing revenue streams. The company’s broad portfolio of revenue management and digital wholesale solutions allows companies to efficiently shorten their time to market and reduce operational costs while delivering innovative services and extraordinary customer experiences. # # # About CSG For more than 35 years, CSG has simplified the complexity of business, delivering innovative customer engagement solutions that help companies acquire, monetize, engage and retain customers. Operating across more than 120 countries worldwide, CSG manages billions of critical customer interactions annually, and its award-winning suite of software and services allow companies across dozens of industries to tackle their biggest business challenges and thrive in an ever-changing marketplace. CSG is the trusted provider for driving digital innovation for hundreds of leading global brands, including Airtel Africa, América Móvil, AT&T, Charter Communications, Comcast, DISH, Formula 1, Hutchison 3 Indonesia, Inmarsat, Mastercard, Maximus, Microsoft, Mobily, MTN, New Leaf Service Contracts, State of California DMV, TalkTalk and Telstra. To learn more, visit our website at csgi.com and connect with us on LinkedIn and Twitter. Copyright © 2021 CSG Systems International, Inc. and/or its affiliates (“CSG”). All rights reserved. CSG® is a registered trademark of CSG Systems International, Inc. All third-party trademarks, service marks, and/or product names which are referenced in this document are the property of their respective owners, and all rights therein are reserved. Contacts: Tammy Hovey Global / North America / Asia-Pacific Public Relations +1 (917) 520-2751 tammy.hovey@csgi.com Kristine Østergaard Europe / Middle East / Africa Public Relations +44 (0)79 2047 7204 kristine.ostergaard@csgi.com John Rea Investor Relations +1 (210) 687 4409 john.rea@csgi.com Contact Details CSG Tammy Hovey +1 917-520-2751 tammy.hovey@csgi.com Company Website https://www.csgi.com

June 02, 2021 03:00 PM Mountain Daylight Time

Exclusive “Awesome” First Look at THE LEGO® MOVIE™ WORLD

YourUpdateTV

YourUpdateTV is a social media video portal for organizations to share their content. It includes separate channels for Health and Wellness, Lifestyle, Media and Entertainment, Money and Finance, Social Responsibility, Sports and Technology – Now that LEGOLAND ® California Resort is back open after being closed for 13 months, the family theme park in Carlsbad, CA, is excited to announce the opening of THE LEGO ® MOVIE™ WORLD. Recently, LEGOLAND ® California Senior Media Relations Manager, Jake Gonzales, and Head of Public Relations at Merlin Entertainment, Julie Estrada, teamed up to share an exclusive first look at the new attraction and provide tips on what to know before planning your next trip. A video accompanying this announcement is available at: https://youtu.be/etg50475M_s THE LEGO ® MOVIE™ WORLD will drop visitors into the quirky, frenetic and manic world of Emmet Brickowski, Wyldstyle, UniKitty and Benny the Spaceman from “THE LEGO® Movie™” film franchise. Attractions include: Emmet’s Flying Adventure - This new flying theater ride is the biggest new attraction in THE LEGO ® MOVIE™ WORLD! Join Master Builders on a triple decker flying couch, as cutting-edge technology transports you all over THE LEGO ® MOVIE™ universe. Surrounded by a full-dome virtual screen, you'll feel like you're flying through a world created completely from LEGO bricks! UniKitty’s Disco Drop - This all-new drop tower ride will take you through a rainbow-filled journey based on Unikitty and her many moods. Swoop to the tiptop of Cloud Cuckoo Land, then drop, spin and bounce back down to earth in sync with Unikitty’s wide range of emotions! Benny’s Play-Ship - Benny’s spaceship has landed right in the middle of Bricksburg! Play on this space-themed playground structure and get ready for takeoff! In addition to the new rides and attractions, guests can choose from a host of food and beverage options in THE LEGO® MOVIE™ WORLD. Enjoy delicious homemade ramen, rice bowls and salads in the land's premiere restaurant, Everything is Ramen! After something sweet? You're sure to be satisfied by Cloud Cuckoo Crepes. Finally, Benny’s Rocket Fuel offers a selection of drinks and snacks, including ice cream, popcorn, and slushies. To learn more and to book your next visit, check out Legoland.com About Jake Gonzales: As a father of two girls and an avid traveler, Jake Gonzales is always looking for the best family travel tips to save money and make the most memorable experiences possible for his family. Gonzales is a Carlsbad native who represents LEGOLAND ® California Resort as an on-camera spokesperson providing his expertise on all the interactive activities, services and events the 22-year-old Resort has to offer. About Julie Estrada: Julie Estrada came to LEGOLAND ® California in 2003 after more than 13 years in broadcast news. A mom of two and world traveler, she currently is Head of Public Relations North America, Merlin Entertainments which owns more than 130 attractions globally and is the second largest attractions operator in the world. About YourUpdateTV: YourUpdateTV is a social media video portal for organizations to share their content. It includes separate channels for Health and Wellness, Lifestyle, Media and Entertainment, Money and Finance, Social Responsibility, Sports and Technology. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

June 02, 2021 04:00 PM Eastern Daylight Time

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CSG CEO Brian Shepherd to Speak at Stifel’s 2021 Virtual Cross Sector Insight Conference

CSG

DENVER, June 2, 2021 – CSG ® (NASDAQ: CSGS) today announced that the company will present at the Stifel Virtual Cross Sector Insight Conference on June 9, 2021. The presentation will be held at 1:20pm ET and will feature comments from CSG chief executive officer Brian Shepherd. The conference presentation will be available via webcast here. About CSG For more than 35 years, CSG has simplified the complexity of business, delivering innovative customer engagement solutions that help companies acquire, monetize, engage, and retain customers. Operating across more than 120 countries worldwide, CSG manages billions of critical customer interactions annually, and its award-winning suite of software and services allow companies across dozens of industries to tackle their biggest business challenges and thrive in an ever-changing marketplace. CSG is the trusted provider for driving digital innovation for hundreds of leading global brands, including Airtel Africa, América Móvil, AT&T, Charter Communications, Comcast, DISH, Formula 1, Hutchison 3 Indonesia, Inmarsat, Mastercard, Maximus, Microsoft, Mobily, MTN, New Leaf Service Contracts, State of California DMV, TalkTalk and Telstra. To learn more, visit our website at csgi.com and connect with us on LinkedIn and Twitter. Copyright © 2021 CSG Systems International, Inc. and/or its affiliates (“CSG”). All rights reserved. CSG® is a registered trademark of CSG Systems International, Inc. All third-party trademarks, service marks, and/or product names which are referenced in this document are the property of their respective owners, and all rights therein are reserved. Contacts: John Rea Investor Relations CSG +1 (210) 687 4409 john.rea@csgi.com Contact Details CSG Tammy Hovey +1 917-520-2751 tammy.hovey@csgi.com Company Website https://www.csgi.com

June 02, 2021 06:30 AM Mountain Daylight Time

FREELANCER.COM'S 20 MILLION JOBS BY THE NUMBERS

Freelancer.com

Because of the pandemic, more and more people are turning to freelancing to offer their skills, or search for other skilled workers to help them set up their own business. Freelancer.com as a two-sided marketplace is in a unique position because the 52 million registered users means a job poster is almost certain to find a freelancer with the requisite skills. It is the demand side, the job posters with work which needs completing, which indicates where the best job opportunities lie. With that in mind the accompanying graphs paint an interesting picture about the most in-demand jobs and skills where freelancers can be assured there are opportunities. 20 Million Projects By Skill: The proportion of jobs in IT and software development and website building has fallen over time, reflecting the growth in WYSIWYG templated website build platforms. The demand for content to populate those websites has grown over time, as has the demand for design, media (Photoshop skills and the like) and architecture. The freelance economy is characterised by a transfer between developed and emerging economies. Developed countries post jobs which are overwhelmingly done in emerging countries. This provides efficiency and cost-saving to businesses in the developed world while providing income that changes lives in emerging economies. The exchange, when 10% of the world lives on less than US$1.90 a day, is a significant factor in the fight against poverty. The freelance economy is characterised by a transfer between developed and emerging economies. Developed countries post jobs which are overwhelmingly done in emerging countries. This provides efficiency and cost-saving to businesses in the developed world while providing income that changes lives in emerging economies. The exchange, when 10% of the world lives on less than US$1.90 a day, is a significant factor in the fight against poverty. About Freelancer ® Twelve-time Webby award-winning Freelancer.com is the world’s largest freelancing and crowdsourcing marketplace by total number of users and jobs posted. More than 52 million registered users have posted over 19 million jobs and contests to date in over 1,800 areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing. Freelancer owns StartCon, Australia's largest startup conference, expo and entrepreneur community established in 2009, WarriorForum.com, the world’s largest Internet marketing community & marketplace, Escrow.com, the world’s largest provider of secure online escrow and online transaction management for consumers and businesses on the Internet, and Freightlancer, a global marketplace for freight, shipping and transportation. Freelancer Limited is listed on the Australian Securities Exchange under the ticker ASX:FLN and on the OTCQX under ticker OTCQX:FLNCF Contact Details Sebastian Siseles +1 415-801-2271 sebastian@freelancer.com Phil Sylvester +16503342706 psylvester@freelancer.com Helma Kusuma +628121049853 helma@freelancer.com Company Website https://www.freelancer.com

June 02, 2021 07:00 AM Eastern Daylight Time

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LambdaTest rallies global investors raising US$16m Series B funding as it rapidly scales

Stockwood Strategy

Cloud-based browser testing platform LambdaTest today announced it has secured US$16 million in Series B funding led by Sequoia Capital India. Telstra Ventures, MENA region investor Wamda Capital and a leading sovereign wealth fund also joined the series B round. Founded in 2017 by Asad Khan and Jay Singh, San Francisco-based LambdaTest is a cloud-based testing infrastructure company that allows users to seamlessly test their websites’ and apps’ look, feel and performance on over 2,000 different browsers and by operating systems and device combinations. The proliferation of devices and browsers has made it increasingly complex for developers to test their websites and apps. LambdaTest solves this problem by enabling developers to run a variety of tests through their cloud-based platform, spotlight concerns, share immediately with teams and remedy issues quickly. LambdaTest exists to support the developer community to identify defects in code much earlier in the release cycle. These defects present one of the biggest challenges and costs facing businesses. Indeed, the cost of fixing these defects once in production and release is 30x higher than addressing earlier in the development cycle. Since its launch, LambdaTest has attracted over 500,000 developers in 132 countries who have performed more than 20 million tests. Customers include SMEs and Fortune 500 companies such as Xerox, Cisco, Microsoft, Deloitte, Media.net, Coca Cola, Trepp, SurveyMonkey, Capgemini, HBR, 23andme and Dashlane. Asad Khan, CEO of LambdaTest commented: “Companies are increasingly competing on customer experience 1 and as such are releasing software updates faster, more frequently to remain relevant. In doing so, there is a greater demand for continuous testing to ensure quality releases in the production environment. In just six short months since the series A round in 2020, LambdaTest has doubled revenues and increased customer numbers by 20%. In that time headcount has doubled in size from 70 people pre-Series A to 150 today across the engineering, sales, and customer success teams. Harshjit Sethi, Principal at Sequoia India commented: “As every company is becoming a software company and deployment cycles are shrinking, testing is becoming an increasingly important part of the software development cycle. Additionally testing is now happening earlier and earlier in the development cycle as part of the ‘Shift Left’ movement that companies like LambdaTest are enabling. Operating in a USD 35 billion market for testing software and services, LambdaTest has emerged as the go-to platform for its users in browser testing, evident from its best-in-class ratings across review sites. Sequoia Capital India is excited to continue partnering with the LambdaTest team as they execute on their vision of building an end-to-end testing system for developers to enable companies to release more reliable software faster.” The number of software tests run by developers has almost doubled from 12m to over 20m in six months at LambdaTest. As developers shift to cloud-based testing, this number will grow exponentially. This trend has been accelerated by the adoption of the Shift Left approach, as more developers are testing code early before they ship to the testing cycles. “LambdaTest’s vision is to empower 23 million developers and testers worldwide with a powerful, comprehensive and secure continuous quality test platform. Our upcoming product lines will enable tech teams to ship high quality code seamlessly boosting their release velocity” added Asad Khan. Steve Schmidt, General Partner at Telstra Ventures commented: “We have an opportunity to build a very large scale and independent testing company with a modern approach to software development and that’s very exciting. Lambdatest has already signed several customers in Australia without having any local presence and we look forward to helping them build out a local APAC team to meet this demand”. The funding advances LambdaTest’s commitment to scaling the testing ecosystem and building next-generation cloud infrastructure for users. To this end, LambdaTest is broadening its reach with the tester community by engaging with developers as it launches a suite of products in 2021 designed for them to perform tests on scale. “We’ve had an exciting period of growth and there is more to come as we expand our platform capabilities and go deeper in global markets. This funding round validates our efforts in building a robust cloud testing platform that is truly resonating with the testing and developer community globally. We pride ourselves in delivering a highly reliable, stable and secure infrastructure for them to achieve success. This success is born out in the numbers as our customers have been able to increase release velocity by over 60% and half the time to market” concluded Asad Khan. About LambdaTest LambdaTest is a cloud testing infrastructure company that allows users to run both manual and automated tests on their websites and webapps across 2000+ different browsers, browser versions and operating system environments. The platform has been used to perform over 20 million tests in just three years, and is now being used by over 500,000 users across 132 different countries. Contact Details LambdaTest Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.theeditldn.com/

June 02, 2021 05:00 AM Eastern Daylight Time

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2021 SORCI REPORT REVEALS SOLUTIONS FOR U.S. RESIDENTIAL BUILDERS TO AVOID PREDICTED DOWNTURN IN 2022

Association of Professional Builders

While builders in the United States have seen record increases in revenue and net profit with homeowners seeking to improve their living environments because of the COVID-19 pandemic, 2022 predictions for the residential home building industry aren’t quite as positive. These findings were unveiled in the recent 2021 State of Residential Construction Industry (SORCI) report, which is sponsored by the Association of Professional Builders (APB), a leading business coaching service for custom home builders. “There has been a boom in residential home construction and renovation largely due to the effects of the pandemic,” says Erik Cofield, an Executive Business Coach with APB based in Houston. “However, this unprecedented demand isn’t sustainable and savvy builders will need to think more like accountants. Our new research reveals that custom home builders could be heading for challenging times in 2022.” More than 1,000 builders globally participated in the survey to provide deeper insights into the residential construction industry. Data from the report revealed that 2020 was a bumper year with 46.5% of respondents globally signing more contracts than in 2019; and 50% more in the U.S. market report signing more contracts in 2020 than 2019. However, after signing a record number of fixed-price contracts, the report also found that many are not prepared for the ensuing squeeze on margins caused by the rise in material pricing and other factors. “We’re urging professional builders to plan for the long term so they’ll be able to weather the predicted downturn in 2022,” says Russ Stephens, APB co-founder and business strategy specialist. “This report truly highlights the current pain points for U.S. builders, and shows where they need to focus their efforts to at least meet industry benchmarks and compete to be the best in the industry.” This concern stems from the survey, which shows that more than 55% of the builders in the U.S. never calculate their work in progress accounting adjustment, indicating that they are at significant risk of growing too quickly because they don’t understand their true financial position. Thus, they are likely to pay higher taxes and experience severe cash flow challenges, particularly when sales begin to slow down. Nearly two-thirds of respondents had no formal sales process in place, and the vast majority (78.8%) had no succession plan to future-proof their business should the unthinkable happen. With these findings in mind, it’s no surprise builders have identified systemizing their business as one of the top priorities for 2021. Other findings include: 80% of the U.S.-based home builders don’t charge for quotes; vs. 56.4% in Australia, 79.1% in Canada, 57.5% in New Zealand and 90% in the United Kingdom; 80% of the U.S.-based home builders do not have a business plan covering the next three years, vs. 69% in Australia, 75% in Canada and 57% in New Zealand; 37% of the U.S.-based home builders want to systemize their businesses; vs 36.1% in Australia, 41% in Canada, 45% in New Zealand and 60% in the United Kingdom. The comprehensive report also dives into trends in sales, contracts, social media, marketing and advertising within the industry. Data from the report also covered insights from residential builders for lead generation, team building, project management, planning, owner’s remuneration, financials and self-development. To find out more about the state of the residential construction industry, a copy of the report can be purchased at https://info.apbbuilders.com/sorci. APB’S WORK IN THE INDUSTRY APB has worked with thousands of builders, coaching residential building companies to systemize their business, including Jason Burgess of Burgess Homes based in Central Massachusetts. “The biggest reason I was looking for APB is that I was doing a lot of smaller renovation jobs. I wanted to grow the business and focus on new construction homes, which is what I truly enjoy,” Burgess said. “Before I was with APB, my average project size was probably around $40,000 and since implementing the content from APB, I’m seeing jobs averaging around $400,000. So, it’s been a tenfold increase for me.” You can read more about Jason’s business growth success story as well as others here: https://associationofprofessionalbuilders.com/success-stories/. ABOUT ASSOCIATION OF PROFESSIONAL BUILDERS The Association of Professional Builders is a leading business coaching service for custom home builders in the United States of America, Australia, New Zealand, and Canada. It provides tested and proven systems for builders to scale and succeed, based on data, experience, and results. Contact Details Anne Shanahan +1 310-933-6834 ashanahan@hoytorg.com Company Website https://associationofprofessionalbuilders.com/

May 27, 2021 08:15 AM Eastern Daylight Time

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