(NewsDirect)
Team Internet Group CEO Michael Riedl joined Proactive at their OTC studio in New York City to mark the company's debut trading on the OTCQX under the ticker symbol "TIGXF." Riedl discussed the significant transformation the company has undergone since its IPO on the London Stock Exchange a decade ago, leading to a rebranding to better reflect its current operations.
Describing the company's focus as entirely on the internet, Riedl explained that Team Internet operates various businesses that synergize like a team. It specializes in two main segments: online marketing and online presence. In online marketing, Team Internet creates AI-generated consumer journeys that convert general interest media users into confident consumers. For online presence, it supplies hosting providers globally with the domain names necessary for their customers.
Riedl emphasized the exponential growth of social media usage, highlighting Facebook's user base doubling from 1.5 billion in 2018 to 3 billion in 2023, indicating the increasing importance of social media in advertising. He noted that the company experienced balanced growth in both operating segments in 2023 and is integrating a new acquisition, Shinez, to enhance its processes.
Under Riedl's leadership, Team Internet has completed nearly 20 acquisitions, contributing to a 25% compound annual growth rate over the past five years. Riedl attributed this success to the rise of social media and data privacy trends, as well as a shift towards local top-level domains over .com due to saturation.
The U.S. remains a crucial market for Team Internet, generating 53% of its revenue, with further expansion anticipated following the Shinez acquisition. Riedl's visit to New York underscores the importance of the American market to the company's ongoing growth and development strategies.
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