17:20:01 EDT Thu 18 Apr 2024
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Namesilo Technologies Corp
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Shares Issued 92,646,648
Close 2024-02-16 C$ 0.23
Market Cap C$ 21,308,729
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Namesilo increases Ola ownership to 19.3%

2024-02-21 12:20 ET - News Release

Mr. Paul Andreola reports


Namesilo Technologies Corp. has increased its investment in Ola Media Innovations Inc. (OLA), a leading ride-share advertainment service in Latin America, and now owns approximately 19.3 per cent of OLA.

With almost 2,000 touch screens deployed in ride-share vehicles (including Uber and Didi) across three major markets in Mexico (Mexico City, Monterrey and Guadalajara), OLA has quickly become a leading advertisement platform that provides major international brands with industry-leading client engagement statistics.

OLA's current repeat clients include Fortune 500 companies such as Coca-Cola, Heineken Group, HBO Max, GlaxoSmithKline, Kellogg's and Netflix, along with strategic content partners including Spotify, Snapchat, Fever, Business Insider and many others.

Over the last seven calendar quarters, OLA has continually increased number of screens deployed, its client base and geographical footprint. Future plans for OLA include geographical expansion into additional Mexican cities, an international expansion throughout the Latin American region and increasing screen count to ensure that OLA has sufficient platform inventory to service its growing client demand.

David Lamadrid, co-founder and chief operating officer of OLA, states: "Latin America is the home of five of the six fastest-growing digital ad markets in the world, with a total addressable digital advertising market of over $11-billion (U.S.). What makes OLA unique is the fact that we are a first-of-its-kind, outdoor advertising platform with truly digital capabilities; allowing us to compete for both traditional digital advertising budgets, as well as novel digital investments. OLA has first-mover advantage, a substantial and growing presence, and the industry relationships that we need to become a dominant player in Latin American mobile advertisement, entertainment and data-aggregation strategies.

"Two thousand twenty-three was the year we proved that our business model is both highly scalable and has substantial operating margins, and that we have a leadership team that can execute at the highest levels. Our partnership with Namesilo Technologies has been invaluable to our progress, and we look forward to continuing to work with the advisory team at URL to grow OLA into the leading advertainment solution in Latin America."

Paul Andreola, chief executive officer of Namesilo Technologies, states: "OLA is a strategic investment for us and we expect to see substantial shareholder value from this holding over the coming years. Founders David and Daniel Lamadrid have succeeded in a very challenging and competitive market and have built a company that is winning major campaigns against established advertising platforms such as Google, Facebook and traditional billboards. The level of innovation they bring and the positive response from blue-chip clients with ever-increasing average campaign sizes is a testament to the impact they have been able to make on the Latin American market in a very short period of time. We look forward to working closely with OLA to accelerate their reach and success over the coming quarters."

About Namesilo Technologies Corp.

Namesilo Technologies invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries, excluding the resource and resource service sectors. Namesilo does not invest on behalf of any third party and it does not offer investment advice.

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