Adcore announced this week that it has graduated to the Toronto Stock Exchange (TSX), becoming the first Israeli company to do so after being listed in the TSX's smaller Venture Exchange.
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"Adcore, with its e‑commerce focused technological solutions, has benefited from a dramatic rise in e-commerce activity and digital transformation worldwide, both accelerated by the global COVID-19 pandemic. According to McKinsey, in the US alone, the pandemic increased the penetration of e‑commerce during a single quarter of 2020 by a percentage comparable to what the previous ten years had shown," the company said in a statement.
"The company operates in an addressable market of half a trillion dollars per year, where eMarketer anticipates 54% growth over the next three to four years. The company's product line enables e‑commerce sites and advertisers to increase customer acquisition and retain existing customers," it continued.
Omri Brill, Adcore's founder and CEO, said that that his organization was "proud to be the first Israeli company to break through to the TSX, one of the world's largest and leading public exchanges. I'm sure that our step will pave the way for more Israeli companies to follow. Listing on Toronto's big board stock exchange gives us access to institutional investors and other international investors, and it broadens our exposure to capital markets. This is a meaningful milestone for us and it's certainly not the last."
Adcore's machine-learning powered advertising technologies cater to digital agencies and advertisers that seek to leverage digital marketing.
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