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"You Gotta Be" Music Video Premieres Online Today

True Colors Festival

SINGAPORE - Media OutReach - 14 June 2021 - Performing from their homes, the cast presents a new take on R&B classic, You Gotta Be, by Des’ree in the latest True Colors music video. Artists include Mandy Harvey, whose performance on America’s Got Talent earned Simon Cowell’s Golden Buzzer; Raul Midón, a Grammy-nominee who devoted his life to music after being told that blindness would be an obstacle; Kenta Kambara, an accomplished aerial performer who featured in the Rio 2016 Paralympics; Signmark, the first deaf artist to be signed to a major record label; and Alienètte Coldfire, who placed third in France’s Got Talent. The technical process of producing this music video involved countless WhatsApp, Messenger and Zoom calls, working across time zones, and using Google Translate in real time. “The real challenge, though, was to develop a relationship with each artist, such that trust and freedom would allow them to perform and be themselves, with their spirit and energy coming through in a real and palpable way,” explains Dr Sydney Tan, Creative & Music Director. Adds Mandy Harvey: “Even though we haven’t met in person…you can feel that every person put their heart into the entire process. Being a part of this team is another reinforcement to me that what’s within you is so much stronger than the barriers we face. This is a reminder to reach farther and dream bigger. My hope is that people are encouraged to try!” Says Ichiro Kabasawa, Executive Director of The Nippon Foundation, presenter of True Colors Festival: “People everywhere have been going through such a prolonged period of uncertainty, isolation and fear. We chose this classic, You Gotta Be, for everyone, everywhere at this time, to realize the potential in ourselves; to choose to be bolder, stronger, wiser, whatever each day may bring. It’s a reminder that when it comes down to it, we’re all human, living together in our one world.” The True Colors music video comes with Closed Captions (for the Deaf) & Audio Description (for the Blind), and an accompanying video Transcript (for the Deafblind). Visit: True Colors Festival website Contact Details True Colors Festival hana@lightyears-comm.com

June 14, 2021 09:00 AM Eastern Daylight Time

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Pennsylvania Video Gaming Association (PaVGA) Advocates for Transition of Skill Games to Regulated Video Gaming Terminals (VGTs)

Pennsylvania Video Gaming Association (PaVGA)

The Pennsylvania Video Gaming Association (PaVGA), the statewide trade association representing manufacturers, distributors and operators of video gaming terminals, continues to support legislation to ensure that skill games are subject to the same regulatory requirements as gambling devices. Currently, skill games are not regulated by any state agency and are not subject to gaming taxes on net revenues as are slot machines, video gaming terminals (VGTs) and iGaming platforms. “Regulation would provide much-needed revenue to small businesses like bars, restaurants and veterans’ clubs, which would benefit from VGTs in those locations. The anticipated revenue from VGTs versus skill games is substantial,” stated PaVGA Executive Director Denise Calabrese. The operation of these games in bars, clubs and restaurants will provide a viable, sustainable revenue stream for struggling establishments who have been hit particularly hard by the COVID-19 pandemic, as well as a stable base of new revenues to the Commonwealth. “Because there has been no alternative sustainable option to gaming revenue for bars, veterans’ clubs, and restaurants throughout Pennsylvania, those venues have turned to the skill game industry for that revenue,” Calabrese explained. “The issue is that these devices, and the companies that own and manufacture them, are not regulated and there is no oversight of those companies, the individual’s who own those companies, or the devices. Pennsylvania’s bars, restaurants and veterans’ clubs, Pennsylvania Operators, and the thousands of consumers who choose this form of entertainment, deserve to know that their gaming options are being overseen by a government agency and that proper protocols are in place to protect them.” PaVGA believes that the Pennsylvania General Assembly needs to pass legislation with urgency to resolve this issue and ensure that any gaming devices operated in the Commonwealth are subject to the full oversight of the Pennsylvania Gaming Control Board (PGCB). During a Senate Community, Economic and Recreational Development Committee hearing on June 7, a Pennsylvania Senator stated there could be as many as 55,000 unregulated skill games currently in operation in Pennsylvania. While opponents to skill game regulation warn of detrimental impacts to the Pennsylvania Lottery and casinos, both continue to realize record high revenues. Furthermore, the same operator-based model PaVGA is advocating for in Pennsylvania has been successfully implemented in Illinois with negligible impact on the revenues of the lottery or casinos. “All we want to do is bring these unregulated games under the purview of the Pennsylvania Gaming Control Board to ensure that adequate protections are in place for consumers, establishments and operators,” Calabrese said. “This is more about applying equal standards to skill and gambling operations in the Commonwealth than it is VGT expansion. We have a statutory and regulatory structure already in place in the Commonwealth that provides for the safe, fair and equitable operation of VGTs. Skill games should be brought under that construct and be treated just like current gambling devices.” Contact Details Michelle Keyser Director of Communications +1 717-724-9166 communications@pavga.org

June 11, 2021 11:00 AM Eastern Daylight Time

MassiveMusic applies science to develop Colgate's smile-inducing new sonic brand identity

MassiveMusic

Colgate, the brand found in more homes than any other, wants the whole world humming an optimistic tune. The iconic oral care brand has launched its new sonic brand identity, a suite of sonic assets and compositions, produced by international creative music agency MassiveMusic London, in collaboration with MassiveMusic New York. Whilst reshaping its visual identity, Colgate also saw an opportunity to stand out within the oral care sector by owning the ‘white space’ within sonic branding in FMCG. In partnership with Red Fuse, the global brand chose to work with MassiveMusic London to develop a distinctive and flexible sound that could live across its marketing, have global appeal and relevance, and which offered new opportunities for recall by consumers. Whilst still a relatively untapped asset, sonic branding is increasingly becoming a key way legacy brands can differentiate themselves in a crowded market. Colgate understood the power of sound to help engage with audiences in new ways and entrusted MassiveMusic’s London team with the vision to ‘create a feeling’ and a holistic sonic experience. Backed by strategy and science Colgate needed a sonic brand that was memorable, modern and reflected its core brand promise of 'Optimism in Action,' whilst also being flexible enough to be stretched into different genres and work across all product offers. But what makes a sound ‘optimistic’? MassiveMusic's' big idea’ was to ground the music in science - taking all subjectivity out of the equation, so you are left with a highly impactful sonic brand. Speaking to academics, ethnomusicologists and neuroscientists, MassiveMusic’s research pointed them towards the human hum as the perfect timbre (or sound quality) for the sonic logo. Consisting of a blend of both female and male tones, the sonic logo was meticulously recorded in such a way as to sound very real, close and natural. The choice of key was again based on research, with the key of D Major being widely accepted as optimistic in nature. The choice of notation and the portmanteau bend towards the end of the sonic logo perfectly syncs to the smile visual animation and creates an activating feeling without being overbearing. By creating a new and original sound that better matches who Colgate is as a brand, rather than looking to the sounds of the sector, Colgate has been able to carve out its own area in the market. Colgate’s new sonic DNA speaks to its history as a pioneering and modern brand. Roscoe Williamson, Global Creative Strategy Director at MassiveMusic said: “Colgate is one of the most recognizable brands across the world - a brand many of us have grown up with. It was important that the new sonic experience not only felt fresh and exciting, but that it also embodied the brand's promise of ‘Optimism in Action’. The need was complex - a system of branded ‘watermarked’ music stemming from a sonic DNA and an iconic sonic logo. This needed to work across more than 200 countries via online content, radio, product and TVCs. And so we created a sonic architecture that could handle this complexity and an overarching aesthetic to the new Colgate music and sound that has universal appeal. To do this we worked with a team of academics and experts and were able to define music and sound cues that throughout history have represented optimism. These cues are at the heart of Colgate’s new sonic brand and have enabled a flexible system that represents the optimistic nature of the brand in a highly distinctive and holistic way.” Jared Richardson, Global Head of Design at Colgate said: “It really was an incredible experience developing the Sound of Colgate with MassiveMusic. The process, collaboration and outcome was fascinating and really enjoyable. The result is a strategically valuable asset that will play out across our global marketing campaigns. We look forward to continuing developing this side of our brand.” The new sonic brand was conceptualized and produced by MassiveMusic London, and will be rolled out across North America, Latin America, Europe, Africa-Eurasia, and Asia. Listen to the new Colgate sonic brand experience here: https://www.massivemusic.com/en/work/detail/the-sound-of-colgate About MassiveMusic MassiveMusic is the agency of record for some of the most famous brands in the world. As a trusted partner, MassiveMusic delivers everything a brand needs in the field of music, voice and sound. Impactful strategies, sonic brand identities and best-in-class compositions – the agency creates this and much more thanks to its fervent passion for music combined with craftsmanship and scientific research. The ultimate goal? To make the world sound better, while helping brands and agencies be more effective through the emotional power of sound. The nifty creators and strategic thinkers behind MassiveMusic can be found in offices and studios around the world. Rumour has it they also throw a massive party every once in a while. About Colgate-Palmolive About Colgate-Palmolive: Colgate-Palmolive Company is a caring, innovative growth company reimagining a healthier future for all people, their pets and our planet. Focused on Oral Care, Personal Care, Home Care and Pet Nutrition, the Company sells its products in more than 200 countries and territories under brands such as Colgate, Palmolive, elmex, hello, meridol, Sorriso, Tom’s of Maine, EltaMD, Filorga, Irish Spring, PCA Skin, Protex, Sanex, Softsoap, Speed Stick, Ajax, Axion, Fabuloso, Soupline and Suavitel, as well as Hill’s Science Diet and Hill’s Prescription Diet. The Company is recognized for its leadership and innovation in promoting environmental sustainability and community well-being, including its achievements in saving water, reducing waste, promoting recyclability and improving children’s oral health through its Bright Smiles, Bright Futures program, which has reached more than one billion children since 1991. For more information about Colgate’s global business and how the Company is building a future to smile about, visit www.colgatepalmolive.com Contact Details Jive PR + Digital Maya Sarin +1 818-422-2248 maya@jiveprdigital.com

June 10, 2021 09:07 AM Eastern Daylight Time

Arria NLG and Boost Sport AI to Present at Sports Betting Community Digital North America

Arria NLG

Boost Sport CEO, Mustafa Abdul-Hamid, will address sports betting and the role of professional teams; leveraging artificial intelligence, analytics and data-driven content creation to deliver highly personalized, authentic fan experiences; and maintaining integrity in college sports Arria NLG, having recently announced an alliance with Boost Sport AI (Boost) to power digital storytelling across sports media, sports betting, and e-commerce, today announced that Boost CEO, Mustafa Abdul-Hamid, will speak on two panels at the upcoming SBC Global Digital North America. Abdul-Hamid will join executives from NASCAR, the New York Jets and the NBA to share his view on the new and ever expanding roles of college and professional organizations in sports betting, as well as the evolution of fan engagement. WHO: Mustafa Abdul-Hamid, CEO, Boost Sport AI WHERE: SBC Digital North America WHAT: “Unlocking College Sports: building a college sports betting ecosystem” “The role of sports organizations in the sports betting ecosystem” WHEN: June 9, 2021 The legalization of sports betting has increased demand for data-driven analytics. According to Technavio Research, the global sports betting market is poised to grow by $134.06 billion during 2020-2024, progressing at a CAGR of almost 10% during the forecast period. In addition, with state legislatures grappling on whether or not to allow college sports as events on which their residents can bet, maintaining integrity is of paramount importance. Also of note, is how professional sports organizations are finding their place in the betting ecosystem. Whether through sponsorships, operational partnership deals or ways to increase fan engagement, franchises are integrating into the sports betting world. As a former professional basketball player who starred at UCLA, Abdul-Hamid brings a unique perspective and insights to SBC Digital. The two companies introduced Arria-Boost, a no-code AI platform that allows content creators to build and deploy authentic sports stories with extreme personalization and limitless scale. Through its alliance with Boost, Arria NLG reinforces its position in the sports media and betting ecosystem as well as continues to expand its presence in e-commerce. Arria’s well-deserved reputation as the global NLG leader reflects its relentless focus on instant conversion of multiple data streams into visuals and expertly written narrative analysis, including out-of-the-box solutions. The Arria-Boost platform allows brands across the sport ecosystem to accelerate their go-to-market performance through the personalization of a one-to-one relationship in the unique voice of every fan. Powered by natural language generation, the platform’s built-in AI extracts and writes sports insights and data-driven stories that are relevant and personalized to the end user. Marketing teams can continuously edit and control the voice and vernacular of the AI to ensure brand alignment across different channels while in production. Watch a short demo video here. For enterprises, the sports data and analytics platform enable marketing teams to create custom NLG content through a “no-code” interface and deploy it across any of their channels. Corporate marketing teams can select the sport, end user features for personalization, and types of narratives for NCAA March Madness, Premier League bets, or other insights their customers want. About Arria NLG Arria NLG ( www.arria.com ) is the global leader in the field of Natural Language Generation (NLG), a form of artificial intelligence, specializing in extracting insights from complex data sources and communicating that information in natural language (i.e. as if written or spoken by a human). Arria's API architecture enables seamless integration with any BI, RPA or VOICE platform. Arria offers NLG solutions for banking, government, financial services, insurance, pharmaceutical, consumer-product goods, news and media. About Boost Sport AI Founded by Mustafa Abdul-Hamid and Inga Nakhmanson, Boost Sport AI ( www.boostsport.ai ) is a proprietary technology platform for sport that powers insights and data storytelling. Boost uses computer vision, data analytics, and natural language generation to build personalized, scalable sports applications. The platform is used by coaches and scouts as well as media and sportsbooks. Boost has powered top NCAA programs including UCLA, the University of Florida, and 10 other schools. Contact Details Mostafa Razzak JMR Connect (for Arria NLG) +1 202-904-2048 m.razzak@jmrconnect.net

June 09, 2021 10:40 AM Eastern Daylight Time

How Split Annuity Strategies Work by Jennifer Lang Financial Services

Jennifer Lang Financial Services, LLC

Contact Details Jennifer Lang Financial Services, LLC. Jennifer Lang +1 877-487-8926 mail@jenniferlangfinancialservices.com Company Website https://www.jenniferlangfinancialservices.com

June 08, 2021 10:05 AM Eastern Daylight Time

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SCIENTISTS WORLDWIDE PLEDGE THEIR TRUST IN SCIENCE IN CELEBRATION OF THE INTERNATIONAL DAY OF LIGHT

International Day of Light Steering Committee

The UNESCO International Day of Light on May 16 th celebrated the worldwide campaign promoting the importance of science and the scientific process for society and sustainable development. The Trust Science pledge saw supporters of science worldwide join together to affirm their appreciation for science. Notable signatories include Nobel and Breakthrough laureates, UNESCO prizewinners, CEOs, representatives from scientific societies and academies, individual scientists and students from nearly 100 countries. “After a year in which we have seen science lead the global response to the coronavirus pandemic, we thought it was essential to highlight the importance of trusting its methods in guiding decisions,” said Steering Committee Chair John Dudley. “The pledge focuses particularly on science’s role in improving quality of life, a sentiment that clearly resonates around the world.” The International Day of Light recognizes the value of light science and technology and its role in providing clean energy, clean water, high-speed connectivity and medical treatments. The day was celebrated with events and hands-on activities in more than 55 countries. The International Day of Light also highlighted the achievements of a number of Champions of Science, individuals from all fields whose work is changing the world. “As a scientist, seeing this kind of support for the scientific process is inspiring,” said Neysha Lobo-Ploch, FBH Berlin, UVphotonics NT GmbH, Germany and LightDay 2021 champion. “I’m honored to have my work acknowledged in this way.” After its initial launch with the International Day of Light, the #TrustScience campaign will continue throughout 2021, and scientists worldwide will be organising targeted actions throughout the year. Dudley explains, “A central aim of this initiative has been to remind members of the scientific community that we share a responsibility to ensure that the public has confidence in science and its outcomes. It is up to us to explain how science works and why it can be trusted.” The Trust Science campaign is organized by the IEEE Photonics Society, SPIE, the international society for optics and photonics, and The Optical Society (OSA), together with the International Day of Light Steering Committee. To sign the pledge and to learn more, please go to https://www.trust-science.org Contacts For questions about how you can engage with the campaign, please contact: info@trust-science.org For media inquiries, please contact: pr@trust-science.org Social media: please share using #TrustScience and #LightDay2021 Social media links: Facebook; Instagram; Twitter About the International Day of Light The International Day of Light (LightDay)is a worldwide initiative that provides an annual focal point for the continued appreciation of light and the role it plays in science, culture and art, education and sustainable development, and in fields as diverse as medicine, communications and energy. The International Day of Light is administered from the International Basic Science Programme (IBSP) of UNESCO by a Steering Committee that includes representatives from a broad range of international partners: the American Institute of Physics (AIP), the American Physical Society (APS), Bosca, the China International Optoelectronic Exhibition (CIOE), Chinese Optical Society (COS), the European Centres for Outreach in Photonics (ECOP), the European Photonics Industry Consortium (EPIC), the European Physical Society (EPS), the Illuminating Engineering Society (IES), the International Centre for Theoretical Physics (ICTP), the IEEE Photonics Society (IPS), the International Commission on Illumination (CIE), lightsources.org - the international network of accelerator based light sources, Light: Science and Applications, The Optical Society (OSA), Tampere University, SPIE, the International Society for Optics and Photonics, SESAME, Signify, Tampere University, Thorlabs, Transitions, the Université de Franche-Comté and Velux. For information about the International Day of Light, please visit www.lightday.org Contacts for IDL: John Dudley and Joseph Niemela Bethany Downer 2021 Steering Committee Chairs 2021 Communications Coordinator Email: contact@lightday.org Email: contact@lightday.org Media Contact for Trust Science: pr@trust-science.org About IEEE Photonics Society The IEEE Photonics Society is the professional home for a global network of scientists, engineers and allied professionals who advance laser, optoelectronics, and photonics technology. As a technical society representing the IEEE, it is a vital part of the world’s largest technical professional organization of more than 400,000 members dedicated to advancing technology for the benefit of humanity. Through its highly cited publications, conferences, technology standards, educational activities, and humanitarian initiatives, the IEEE Photonics Society provides its members in more than 160 countries the opportunity to grow professionally and stay on the forefront of transformational breakthroughs in photonics. PhotonicsSociety.org About SPIE SPIE, the international society for optics and photonics, was founded in 1955 to advance light-based technologies. Serving more than 255,000 constituents from 183 countries, the not-for-profit society advances emerging technologies through interdisciplinary information exchange, continuing education, publications, patent precedent, and career and professional growth. SPIE annually organizes and sponsors approximately 25 major technical forums, exhibitions, and education programs in North America, Europe, Asia, and the South Pacific. In 2020, SPIE provided more than $5 million in support of education and outreach programs. www.spie.org About The Optical Society Founded in 1916, The Optical Society (OSA) is the leading professional organization for scientists, engineers, students and business leaders in light science and technology. The society serves over 432,000 customers and 22,000 members from more than 100 countries who fuel discoveries, shape real-life applications and accelerate achievements in the field. OSA provides quality research, inspired interactions and dedicated resources for its extensive global network of optics and photonics experts through world-renowned publications. For more information, visit osa.org. Contact Details pr@trust-science.org +1 703-907-0010 pr@trust-science.org Company Website https://www.trust-science.org

June 08, 2021 09:58 AM Eastern Daylight Time

Haystack Analytics attracts investment, powering tech teams globally and addresses developer burnout

Stockwood Strategy

Engineering insights tool Haystack Analytics, backed by Y Combinator, today announced it has secured a US$1.2m funding round which included participation from Founders Club, Y Combinator, Soma Capital, Entrepreneur First and investors Dan Siroker and Blaine Vess. Founded in 2020 by Julian Colina and Kan Yilmaz, Haystack helps build elite developer teams by providing engineering metrics and alerts proven to drive performance. Haystack improves developer productivity and software quality. Through their integration with GitHub, Haystack is able to provide live data insights that illustrate the entire delivery process from commit to deploy, being able to highlight bottlenecks like code review and team productivity. Using this feedback loop, Haystack users have increased production deployments by 58% and achieved 70% faster cycle times on average. In less than 12 months since launch, Haystack is being used by more than 7,000 developers at tech teams in GoDaddy, Microsoft, The Economist, Indiegogo and Truebill among others as revenues have increased by an average of 36% month on month. Julian Colina, CEO and co-founder of Haystack Analytics commented: “Tech teams and engineers around the world are key assets to any company and shipping software is the heartbeat and competitive advantage they seek. The efforts of developers are at the heart of processes, products and, effectively, the bottom line. Until now, it was difficult for CTOs and engineering managers to objectively know what their roadblocks are or have insights into resourcing levels. Haystack gives visibility by providing metrics and alerts to make sure nothing continues to be stuck. We are helping developers to ship faster and improve their satisfaction”. Research 1 has shown that elite performing engineering organisations are twice as likely to achieve their organisational goals and achieve a 50% higher growth rate over 3 years. It isn't just business objectives that do better, employees of elite performers are almost twice as likely to recommend their team as a great place to work. “Companies with strong technology teams are outperforming those which don't. Technology teams which follow DevOps best practice are less likely to see developers being burnt out, whilst allowing new product ideas to be experimented faster and shipping business value more reliably” added Julian Colina. The funding advances Haystack’s commitment to building intuitive one-click dashboards and alerts using GitHub data. Haystack plans to expand its offering to a greater range of data sources whilst providing an ever greater variety of user-friendly alerts and insights. As companies move to hybrid office/home working environments, Haystack provides insights that teams need to experiment with their workflows to prevent developer burnout whilst shipping faster. “Our mission is to bring the competitive advantage data-driven engineering teams like Google have to everyone. We help teams track their delivery process and optimization opportunities instead of relying solely on gut feelings - resulting in 70% faster delivery on average. It’s been an incredible 12 months and we are well set to achieve much more in the next year” concluded Julian Colina. Ends 1 DevOps Research and Assessment, State of DevOps report About Haystack Analytics Haystack was founded in 2020 by Julian Colin and Kan Yilmaz for tech teams to learn more about roadblocks to their work, improve productivity and importantly identify burnout issues with developers. Haystack helps build elite developer teams by providing engineering metrics and alerts proven to drive performance, improve developer productivity and software quality. Through their integration with GitHub, Haystack is able to provide live data insights that illustrate the entire delivery process from commit to deploy, being able to highlight bottlenecks like code review and team productivity. Using this feedback loop, Haystack users have increased production deployments by 58% and achieved 70% faster cycle times on average. Contact Details Haystack Analytics Bilal Mahmood +44 7714 007257 bilal@usehaystack.io Company Website https://www.usehaystack.io/

June 07, 2021 11:00 AM Eastern Daylight Time

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True Colors Fashion: The Future is Now!

True Colors Festival

SINGAPORE - Media OutReach - 7 June 2021 - The Future is Now! unites some of the world’s leading tech companies and fashion brands with a diverse cast of models to present innovative creations. This video series – which includes an atmospheric pre-recorded runway show & revelatory conversations between cast members – now on the True Colors Festival YouTube Channel, captures human creativity at its best, and the endless possibilities that technology offers. Meet an ALS creator who makes art with eye movement input, see hearing aids worn as fashion, prosthetic blades for children, discover an ingeniously designed trench coat…and more. “Since the invention of computers, we have been able to solve problems with software, and it has become easier for people to connect with one another. In keeping with this idea, The Future is Now! sets the stage for diverse people to express themselves with fashion that’s empowered with technology,” says Yoichi Ochiai, renowned media artist and general director of the show. Participating models include Masatane Muto, a DJ with ALS who plays music with his eyes; Pippi, a deaf model who has graced ad campaigns and fashion runways; Hirotada Ototake, bestselling author of the memoir “No One’s Perfect” about his life without limbs; and Fumiya Hamanoue, a visually impaired Paralympic climber. Collaborating brands include Xiborg Inc. and SONY Computer Science Laboratory, both specialists in prosthetics enhanced with robotics; ONTENNA, which converts sound information into light and vibration; Tommy Hilfiger Adaptive, the first major label to launch a full-fledged adaptive line; and KANSAI YAMAMOTO, the fashion house that has dressed luminaries like David Bowie. “I want to build a world in which not having the use of legs will not be an obstacle to running. I want to make running with a prosthetic leg a normal thing…for everyone,” says Ken Endo, founder of Xiborg Inc. and researcher at Sony CSL. The Future is Now! is the third part of the True Colors Fashion series produced by Kao Kanamori. The first two parts were launched in March this year: Clothes in Conversation, a documentary available to watch on YouTube and a photo exhibition at the annual Shibuya Fashion Week. Supported by Arts Council Tokyo, Tokyo Metropolitan Foundation for History and Culture and Aputure. Co-presented by DRIFTERS INTERNATIONAL. Visit: True Colors Festival website Contact Details True Colors Festival Media Contact hana@lightyears-comm.com Company Website https://truecolorsfestival.com/program/adaptive-fashion-show-diversity-tech-true-colors-fashion-the-future-is-now/

June 07, 2021 09:00 AM Eastern Daylight Time

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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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