LAS VEGAS, Feb. 6, 2018 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a global technology company focused on providing artificial intelligence ("AI") solutions, announced that Shanghai Open University, one of the largest online educational institutions in China teaching more than 70,000 students per year, selected KanKan, Remark Holdings' artificial intelligence platform, to provide an AI-based automatic video indexing and editing product—KanKan Media Box—as its online class video-management platform. KanKan Media Box will allow Shanghai Open University to manage, reuse and resell its approximately one million hours of online class content to various online channels, which was impossible for the university to achieve prior to KanKan Media Box. The agreement with Shanghai Open University represents Remark's first foray into the educational market using KanKan's advanced AI-based video processing technologies, and Remark believes more successes in the education market will come soon.
"After yesterday's announcement regarding Beijing Hualian Group, we successfully placed another KanKan product into a new vertical for us," stated Kai-Shing Tao, Chairman and CEO of Remark Holdings. Today's announcement comes on the heels of Remark's announcement yesterday that the company had successfully obtained a contract with Beijing Hualian Group, which got the company's foot in the door of the large-retailer market. "We are proving that we can bring new products and services to bear in various markets that can leverage KanKan's superior data and AI capabilities." Remark also recently announced a deal with China Mobile to deploy KanKan's SmartEyes product.
About Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) primarily focuses on the development and deployment of artificial-intelligence-based solutions for businesses and software developers in many industries. Additionally, the company owns and operates digital media properties that deliver relevant, dynamic content. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website at www.remarkholdings.com.
This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.
Douglas Osrow, CFO
Remark Holdings, Inc.
702-701-9514, ext. 3025
Investor Relations Contact:
Matt Glover or Tom Colton
Liolios Group, Inc.
SOURCE Remark Holdings, Inc.