MyCommunity.Today Inc., a privately held technology company focused on development of hyper-local, interactive social media and e-commerce platform specifically designed to allow local businesses to engage and promote their products and services within their local communities, and Local Marketing Solutions Group, Inc., a holding company, offering the broadest and most efficient marketing solutions to national and international brands that drive revenue through local sales and marketing channels, today jointly announced that they have entered into a letter of intent (LOI) which reflects the parties’ agreement in principle to negotiate and enter into a strategic relationship to promote and expand MyCommunity.Today, Inc.’s merchant services throughout the United States.
Under this proposed strategic relationship agreement, Local Marketing Solutions Group companies will take substantial equity ownership in MyCommunity.Today to establish ongoing alignment of both companies’ shared vision. Additionally, under the terms of this agreement, Local Marketing Solutions Group will provide MyCommunity.Today sales and marketing planning and execution functions which includes marketing and sales of MyCommunity.Today’s services through its array of small business-facing subsidiaries to tens of thousands of their merchant clients. Further, Local Marketing Solutions Group will market and sell MyCommunity.Today’s merchant platform to national advertisers and brands in exchange for additional equity in MyCommunity.Today.
“We are very excited to be pursuing a strategic agreement with MyCommunity.Today, a grassroots community technology company with the mission to improve people’s lives by increasing their engagement in the activities that enhance their local community using their leading-edge technology platform,” said Al Croke, President and CEO of Local Marketing Solutions Group, Inc. “We believe MyCommunity.Today’s unique Mobile App As A Service (MAAS) offering will truly enhance our current and future merchant clients’ brand awareness, ultimately resulting in increased merchant sales and revenue. We look forward to working towards a final agreement and seeing this breakthrough technology platform be adapted by all merchants throughout the U.S.”
“Our goal at MyCommunity.Today is not only to develop the most innovative interactive social media and e-commerce platform to help local merchants grow their business in these trying times, but also to deploy Mobile specific and tailored solutions to tackle the growing and unmanaged challenge of mobile users trying to find and to shop at local businesses,” said Sai Agahi, Co-Founder and CEO of MyCommunity.Today, Inc. Sai continued, “Given that many of the small local merchants have suffered significantly due to COVID19 and have lost much of their sales to larger on-line businesses such as Amazon, we made it our mission at MyCommunity.Today to help those merchants get their clients back by giving every local business its own mobile App and e-commerce platform. Our strategic alliance with Local Marketing Solutions Group, with their extensive experience in sales and marketing to our target markets, local merchants and consumers, will bring tremendous value in helping to achieve our mission.”
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