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VNET Announces Certain Updates Regarding the Refinancing of the Founder’s Personal Loan

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BEIJING, July 8, 2024 /PRNewswire/ — VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a leading carrier- and cloud-neutral internet data center services provider in China, today announced the refinancing of the margin loan facility provided by Bold Ally (Cayman) Limited (the “Bold Ally Loan”) to Mr. Josh Sheng Chen (“Mr. Chen”), Founder, Co-Chairperson and interim Chief Executive Officer of VNET. The Bold Ally Loan was procured by Mr. Chen in or around August 2021 to finance his purchase of 17,140,898 Class A ordinary shares from another significant shareholder at the time, and was secured by the ordinary shares beneficially owned by Mr. Chen in the Company.

With reference to the Amendment No. 8 to the Schedule 13D filing dated July 8, 2024 filed by Mr. Chen (the “Schedule 13D Amendment”), Mr. Chen and various entities wholly owned by him (the “Corporate Obligors”) have settled all of their obligations under the Bold Ally Loan. The settlement was funded using proceeds generated from the issuance of a promissory note (the “Note”) to Shining Rich Holdings Limited and the existing cash reserves of Mr. Chen.  

As a result of the settlement of the Bold Ally Loan, the collateral for the Bold Ally Loan has been released in full pursuant to a deed of undertaking as disclosed in the Schedule 13D Amendment, and Mr. Chen has restored his beneficial ownership interest in 33,628,926 Class A ordinary shares of the Company, the ownership of which was previously transferred to Bold Ally (Cayman) Limited.

The Note is secured by 68,373,133 Class A ordinary shares and 27,757,992 Class B ordinary shares beneficially owned by Mr. Chen and the Corporate Obligors, representing in the aggregate approximately 6.00% of the issued and outstanding share capital and 18.41% of the total voting power in the Company as of the date of the Schedule 13D Amendment.

Mr. Chen and the Corporate Obligors have also made various undertakings with respect to the shares of the Company. These undertakings include procuring the Company not to issue or grant, in any financial year, equity securities (including rights to acquire shares) representing 5% or more of the total issued and outstanding capital of the Company (on a fully-diluted basis) to any person, including Mr. Chen and the Corporate Obligors themselves, subject to exceptions. Details of such undertakings are set forth in the Schedule 13D Amendment.

Considering the voting power owned by Mr. Chen, his veto rights over certain corporate actions through his beneficial ownership of 60,000 class C ordinary shares and his executive powers as co-Chairperson and interim Chief Executive Officer of the Company, Mr. Chen holds significant power to direct or influence the management and policies of the Company as a controlling person.

About VNET

VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers’ internet infrastructure. Customers may locate their servers and equipment in VNET’s data centers and connect to China’s internet backbone. VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of over 7,500 hosting and related enterprise customers that span numerous industries ranging from internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

Safe Harbor Statement 

This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and similar statements. Among other things, quotations from management in this announcement as well as VNET’s strategic and operational plans contain forward-looking statements. VNET may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about beliefs and expectations on the future performance of VNET, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: VNET’s goals and strategies; VNET’s liquidity conditions; VNET’s expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, VNET’s services; VNET’s expectations regarding keeping and strengthening its relationships with customers; VNET’s plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where VNET provides solutions and services. Further information regarding these and other risks is included in VNET’s reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and VNET undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com 

View original content:https://www.prnewswire.com/news-releases/vnet-announces-certain-updates-regarding-the-refinancing-of-the-founders-personal-loan-302190783.html

SOURCE VNET Group, Inc.

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2025 Consumer Texting Behavior Report: Consumers Demand SMS Notifications and Conversations

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29 minutes ago

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January 9, 2025

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Consumers embrace SMS Marketing like never before, with 86% opting in and expectations for instant, tailored communication soaring.

SAN FRANCISCO, Jan. 9, 2025 /PRNewswire/ — EZ Texting, the leading text marketing platform for businesses of all sizes, released the 2025 Consumer Texting Behavior Report today. Now in its fourth year, the report underscores a remarkable trend: with a staggering 98% open rate, SMS has evolved from a communication tool to the cornerstone of audience engagement, driving immediate and meaningful interactions.

EZ Texting’s 2025 Consumer Survey results reveal consumers embrace SMS marketing like never before, with 86% opting in.

“Consumers are clear about their preferences: they want businesses to communicate with them through SMS,” said Punit Shah, Co-Founder and Chief Marketing Officer. “From promotional offers to providing customer support, customers now prefer SMS for its speed, delivery, and convenience above all other forms of communication, including social and email. Businesses that react to this trend will find themselves with positive customer engagement, and those that don’t are at risk of missing customer needs. Texting is no longer just a nice-to-have, it is now a must-have communication channel.”

Consumers Expect Texting for Every Business Need

The 2025 report reveals growing consumer reliance on SMS for appointment reminders, promotional updates, and customer support. Among the most striking findings:

86% of consumers now opt in for business texts, a 20% increase since 2021.79% of consumers are more likely to purchase when subscribed, increasing 21% from 2024.52% of consumers text businesses more often, a 31% increase over 2023.

SMS Marketing Drives Action & Builds Loyalty

Consumers are increasingly turning to SMS as their go-to communication channel with brands. Highlights include:

71% of consumers subscribe to texts without needing a prior purchase.47% share feedback via SMS, rising from 35% in 2024.63% of consumers text more overall, with 52% texting businesses, compared to 31% last year.

Consumers Demand Speed & Personalization

Consumer expectations for responsiveness are higher than ever:

57% expect businesses to respond within 15 minutes.67% show increased interest in products after receiving a text, an increase of 21% from 2024.49% purchase more often after receiving a text, underscoring the power of timely communication.

Survey Methodology

EZ Texting conducted the 2025 Consumer Texting Behavior Report to analyze consumer attitudes and behaviors related to SMS marketing.

Survey Timeframe: Nov. 1–Nov. 15, 2024Participants: 1,074 qualified respondents with personal mobile phones

About EZ Texting
Since 2004, EZ Texting has provided 230,000+ growing businesses and organizations with an effortless way to start text marketing—and powerful features and integrations to keep conversations going.

CONTACT:
Marco Raye
Content Marketing Manager
Email: mraye@eztexting.com

Journalists & Media
pr@eztexting.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/2025-consumer-texting-behavior-report-consumers-demand-sms-notifications-and-conversations-302346459.html

SOURCE EZ Texting

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Kotak Life launches ‘Kavya’: AI-powered HR Assistant aimed at enhancing Employee Engagement and Experience

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29 minutes ago

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January 9, 2025

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MUMBAI, India, Jan. 9, 2025 /PRNewswire/ — Kotak Mahindra Life Insurance Company Ltd (“Kotak Life”) has unveiled Kavya, an advanced HR virtual assistant powered by generative AI, designed to enhance employee experience and engagement.

Kavya serves as a trusted companion to Kotak Life’s strong workforce, ensuring that employees are heard confidentially while fostering open communication and connection throughout their professional journey. By engaging in meaningful conversations, Kavya aims to support individual growth and strengthen Kotak Life’s commitment to creating a progressive and supportive work environment.

Ruchira Bhardwaja, Chief Human Resources Officer, Kotak Mahindra Life Insurance Limited, said, “Kavya marks a pivotal moment in our commitment to employee development and satisfaction. With this AI-powered solution, we’re not just modernising HR services – we’re building a more empathetic, accessible and responsive workplace where every employee feels valued and heard.”

Key Features of Kavya 

Confidentiality: Kavya ensures that all interactions and shared information are kept strictly confidential, prioritising employee privacy at all times.Dedicated Support: For new joiners to seasoned professionals, Kavya is there at every milestone in the journey at Kotak Life, offering assistance and guidance.Action: Employees can share feedback and concerns with Kavya, who actively works to implement meaningful changes.Open Communication: Kavya encourages employees to communicate freely, without hesitation, providing a judgment-free space for open dialogue.

About Kotak Mahindra Life Insurance Company Ltd.

Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long term savings. Kotak Life is one of the fastest growing insurance companies in India with 322 branches across 152 cities and has covered more than 5 crore active lives as on 31st December 2024.

For further information, please contact:
Shazin Motorwala, 
Kotak Mahindra Life Insurance Company Ltd.,
+91 98332 40021, 
Shazin.Motorwala@kotak.com

Jimit Harde,
Kotak Mahindra Bank,
+91 99300 29645,
Jimit.Harde@kotak.com

Meenakshi Verma, 
The Good Edge,
+91 99875 68227, 
meenakshi@thegoodedge.com

 

View original content:https://www.prnewswire.com/in/news-releases/kotak-life-launches-kavya-ai-powered-hr-assistant-aimed-at-enhancing-employee-engagement-and-experience-302346904.html

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FusionIQ Celebrates a Breakthrough Year in 2024, Wins Trifecta of Industry Awards

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29 minutes ago

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January 9, 2025

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Wealthtech provider also appoints Sloan Shanahan as Chief Revenue Officer to drive further growth and innovation

WOBURN, Mass., Jan. 9, 2025 /PRNewswire/ — FusionIQ, a leader in the delivery of cloud-based wealth management solutions, announced today that it achieved significant milestones in 2024, further establishing itself as a key innovator in wealthtech. This marks a pivotal moment in the company’s mission to make digital wealth transformation easy for financial advisors and institutions.

From industry awards to new partnerships and thought leadership to significant product advances, FusionIQ has emerged as a leader in the democratization of wealth as financial advisors and institutions look to fintechs to keep pace with the rapid acceleration of digital transformation in financial services.

Among the Notable Achievements in 2024:

Pre-Integrated Platforms: Leveraging the power of the cloud-native FusionIQ One platform, FusionIQ launched a suite of pre-integrated platforms to make digital wealth transformation easy, fast, and cost-effective for financial advisors and institutions. These platforms included FIQ Journey, the first dual journey platform for financial institutions integrating hybrid digital advice and self-directed investing in a single seamless investor experience, and the groundbreaking FIQ Wallet, the first digital wealth management solution for wallet companies, a significant leap forward in the convergence of wealth management and payment.Strategic Partnerships: The company announced key partnerships with leading financial institutions, including groundbreaking collaborations with OnPoint Community Credit Union and Kinecta Federal Credit Union, expanding access to digital investment services for OnPoint’s 581,000-plus members in Oregon and Southwest Washington, and Kinecta’s more than 270,000 members in California, New York, New Jersey, and Florida.Recognition in Banking Innovation: FusionIQ set the standard for innovation among wealthtech providers in 2024, winning Best-as-a-Service Solution for Wealth Management at the prestigious 2024 Banking Tech Awards USA in May, Best Wealth Management Solution by Vendor (Overall) at the Global BankTech Awards 2024 in September, and Best Digital Solution Provider – WealthTech – Personalization and User Experience at the Banking Tech Awards 2024 in December.SOC 2 Type II Compliance: FusionIQ successfully achieved SOC 2 Type II compliance, demonstrating its commitment to cybersecurity leadership and reinforcing trust with its growing client base.Thought Leadership: On topics ranging from cybersecurity to digital transformation in wealth management, FusionIQ advanced industry knowledge by contributing to 20 thought leadership articles, op-eds, and industry roundtables, establishing the company as a trusted voice in wealth management innovation.

With these achievements, FusionIQ continues to redefine the wealth management experience for institutions and investors across the industry.

Strengthening the C-Suite For Future Growth

In the second half of the year, FusionIQ made strategic leadership appointments to drive its continued growth trajectory. Eric Noll was appointed Chief Executive Officer after successfully completing a significant new fundraising round in October. That same month, Pete Chiccino was named Chief Operating Officer.

In December, Sloan Shanahan joined the executive team as Chief Revenue Officer (CRO), bringing a wealth of expertise in strategic partnerships, sales enablement, and market expansion. Ms. Shanahan has a proven track record of building and leading high-performing teams across top-tier consulting and technology organizations. Her vision aligns perfectly with FusionIQ’s goal of scaling operations and delivering innovative solutions to empower financial institutions in a rapidly evolving digital landscape.

“I’m thrilled to join FusionIQ at this pivotal time,” she said. “The company’s dedication to redefining wealth management through innovation and collaboration is inspiring. I look forward to working with the team to drive measurable business outcomes and forge enduring partnerships across the industry.”

Looking Ahead to 2025

Building on its momentum, FusionIQ is poised to accelerate its growth trajectory in 2025. With its strengthened leadership team and proven track record of success, FusionIQ is well-positioned to lead the next wave of digital transformation in wealth management.

About FusionIQ

FusionIQ makes it easy for financial advisors and institutions to be digital wealth leaders. The cloud-native all-in-one FusionIQ One platform has four modules – Hybrid Digital Advice, Self-Directed Investing, Digital Marketplace, and finTAMP – making digital transformation hassle-free. FusionIQ One powers a range of easy-to-implement products, including FIQ Freedom, FIQ Journey, FIQ Market One, FIQ TAMP+, and FIQ Wallet, making it easy for credit unions, banks, broker-dealers, family offices, RIAs, wallet providers, and asset managers to scale, delivering the digital experience clients and advisors want and the seamless workflows and process automations they need for organic growth. With white-label integrations complete in as little as six weeks, it’s easy to see why FusionIQ One’s integrated multi-custodian platform is quickly becoming the digital solution of choice for advisors and institutions. To learn more, please visit: https://fusioniq.io

Media Contact
Elizabeth Shim
Haven Tower Group
424 317 4861
eshim@haventower.com 

 

View original content:https://www.prnewswire.com/news-releases/fusioniq-celebrates-a-breakthrough-year-in-2024-wins-trifecta-of-industry-awards-302345687.html

SOURCE FusionIQ

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