NEW YORK, May 1, 2019 /PRNewswire/ -- Mobiquity Technologies, Inc. (OTCQB: MOBQ), a leading technology provider in next generation mobile advertising media space announced today first quarter revenues of $1.59 million, which represents transformational growth when compared to just $0.04 million in revenues generated in the first quarter of 2018.
The increase was the result of three factors. First, the acquisition of Advangelists has dramatically increased the baseline revenues of Mobiquity, which is now tracking towards a $10 million annualized revenue run rate for 2019. Second, the Company added four new experienced industry sales experts that are contributing to current growth. Lastly, Mobiquity is benefitting from expanded existing client relationships; existing clients are using Advangelists technology for expanded media spending.
"Our first quarter sales results are a clear demonstration of the momentum and impact of integrating the Advangelists platform into our sales model and our marketing program," commented Deal Julia, Chief Executive Officer of Mobiquity. "Our sales team has hit the ground running, and our clients are responding very favorably. We are excited to provide further updates as we look to accelerate our sales results throughout the remainder 2019."
About Mobiquity Technologies
Mobiquity Technologies, Inc. (OTCQB: MOBQ), is a mobile first, next generation, platform-as-a-Service (PaaS) company for data and advertising. The company maintains the largest location database available to advertisers and marketers through their data services division. Our corporate website is (www.mobiquitytechnologies.com). Through Mobiquity Technologies' Advangelists subsidiary (www.advangelists.com), the company also provides programmatic advertising technologies and precise mobile data insights on consumer behavior.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
Certain statements in this press release constitute "forward‐looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements express or implied by such forward‐looking statements. The forward‐looking statements are subject to risks and uncertainties including, without limitation, changes of competition, possible loss of customers, and the company's ability to attract and retain key personnel. For more information, please contact us at: firstname.lastname@example.org
SOURCE Mobiquity Technologies, Inc.