BEIJING, July 11, 2018 /PRNewswire/ -- Gridsum Holding Inc. ("Gridsum" or the "Company") (NASDAQ: GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence ("AI") solutions in China, today announced that it has renewed its contract with SAIC Volkswagen Automotive Co Ltd. ("SAIC VW"), an automobile manufacturing company headquartered in Anting, China and a joint venture between Volkswagen Group and SAIC Motor.
SAIC VW engaged Gridsum in 2016 to transform their digital marketing strategies and stay abreast of market trends by monitoring their official website and digital media placements using Gridsum's cutting-edge Marketing Automation Suite. Leveraging its big data analysis and AI-driven marketing and sales intelligence technology, Gridsum's Marking Automation Suite optimizes digital media monitoring and advertising placements to increase conversion rates, efficiently place bids to improve advertising efficiency and lower labor costs.
Mr. Guosheng Qi, Chief Executive Officer of Gridsum, commented, "I am pleased to renew our contract with SAIC VW and further deepen our relationship after working closely with them over the past few years. We believe this contract renewal demonstrates the effectiveness and value our solutions bring for SAIC VW and their continued trust in Gridsum. We will continue build out and innovate new marketing solutions to help our clients making incisive and effective data-driven decisions and enhance their digital marketing initiatives going forward."
Gridsum Holding Inc. (NASDAQ: GSUM) is a leading provider of cloud-based big-data analytics and AI solutions for multinational and domestic enterprises and government agencies in China. Gridsum's core technology, the Gridsum Big Data Platform, is built on a distributed computing framework and performs real-time multi-dimensional correlation analysis of both structured and unstructured data. This enables Gridsum's customers to identify complex relationships within their data and gain new insights that help them make better business decisions. The Company is named "Gridsum" to symbolize the combination of distributed computing (Grid) and analytics (sum). As a digital intelligence pioneer, the Company's mission is to help enterprises and government organizations in China use data in new and powerful ways to make better informed decisions and be more productive.
Safe Harbor Statement
This announcement contains forward-looking statements. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "may," "will," "expects," and similar statements. Among other things, quotations from management in this announcement as well as Gridsum's strategic and operational plans contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Many factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: unexpected difficulties in Gridsum's pursuit of its goals and strategies; the unexpected developments, including slow growth, in the digital intelligence market; unexpected difficulties and potential delays in filing annual or other reports with the SEC; PRC governmental policies relating to media, software, big data, the internet, internet content providers and online advertising; and general economic and business conditions in the regions where Gridsum provides solutions and services. All information provided in this press release is as of the date of this press release, and Gridsum undertakes no duty to update such information except as required under applicable law.
For more information, please visit http://www.gridsum.com/.
Mr. Christian Arnell
Mr. Tip Fleming
Phone: +1 917 412 3333
SOURCE Gridsum Holding Inc.