NEW YORK, Jan. 06, 2020 (GLOBE NEWSWIRE) — Mohawk Group Holdings, Inc. (NASDAQ: MWK) (“Mohawk”) the tech-enabled, consumer product company, today announced that it has launched its proprietary AIMEE software platform on Microsoft’s AppSource Business Applications Marketplace.
Microsoft AppSource helps business users find and try software-as-a-service (SaaS) apps from Microsoft and its partners. Microsoft AppSource apps include Web Apps and apps that are built on top of Microsoft Dynamics, Azure, Office 365, and PowerApps including Power BI.
“We are excited to continue our investment in our SaaS business in parallel to our core e-commerce product business,” said Mohawk Group Chief Executive Officer Yaniv Sarig. “We have built the AIMEE platform in the last five years to power our owned and operated consumer product brands and remain excited about making our technology available to small- and medium-sized e-commerce businesses. AIMEE was built on Microsoft’s Azure cloud, and we look forward to leveraging Microsoft’s app store to kick off our new SaaS offering and to reach wider market participants. We intend to make AIMEE available through other SaaS marketplaces in the near future as we continue to develop this new revenue stream for Mohawk Group.”
About Mohawk Group Holdings, Inc.
Mohawk Group Holdings, Inc. and subsidiaries (“Mohawk”) is a rapidly growing technology-enabled consumer products company that uses machine learning, natural language processing, and data analytics to design, develop, market and sell products. Mohawk predominantly operates through online retail channels such as Amazon, and Walmart. Mohawk has incubated and grouped four owned and operated brands: hOme, Vremi, Xtava and RIF6. Mohawk sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics.
Forward Looking Statements
All statements other than statements of historical fact included in this press release that address activities, events, or developments that we expect, believe, or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements about our ability to successfully deploy, market, and sell our SaaS product offering, launch products, and to expand our product offerings, our technology platform and our ability to disrupt the consumer products industry; our ability to gain market share; and our ability to penetrate new categories. These forward-looking statements are based on management’s current expectations and beliefs and are subject to uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to our cash flows, financial condition and revenue growth rate; customer adoption, development of our AIMEE software platform to meet the needs of third parties, our supply chain, sourcing, manufacturing and warehousing; international tariffs and trade measures; inventory management, product liability claims, recalls, or other safety concerns; reliance on third-party online marketplaces; seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), including in our final prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on June 13, 2019, all of which you may obtain for free on the SEC’s website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Jessica Liddell ICR 203-682-8200
Ilya Grozovsky, Mohawk Group
Brendon Frey, ICR