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RedCloud at GITEX Dubai: Setting Sights on Saudi Launch, with AI Solution to $2Tn Problem
Globenewswire· 2025-10-14 12:30
Core Insights - RedCloud Holdings plc is advancing towards the launch of RedCloud Arabia, with participation in GITEX 2025 in Dubai [1][3] - The company aims to address a $2 trillion global inventory gap affecting the $14.6 trillion FMCG industry, which leads to inefficiencies and higher prices for consumers [2][4] - RedCloud's platform has shown significant growth, with a reported revenue of $46.5 million in 2024, representing a 135% year-over-year increase [6] Company Developments - RedCloud's CEO Justin Floyd and joint venture partner Majid Alghaslan are attending GITEX 2025 to meet potential partners and sponsors [3][5] - The company has expanded its active retailer base to 68,089 customers, a 110% year-over-year increase, and its distributor network to 1,017 active customers, a 136% year-over-year increase [6] - RedCloud Arabia will be jointly owned with Kayanat and is set to launch operations in Q4 2025, focusing on deploying the RedAI trading platform [11] Market Position - The Middle East FMCG market is projected to trade $568 billion in 2025, aligning with RedCloud's mission to modernize supply chains in the region [4][11] - The platform processed a Total Transaction Value (TTV) of $2.5 billion, indicating strong customer growth momentum [5][6] - RedCloud completed a $20 million IPO on Nasdaq in March 2025, with analysts maintaining a "Strong Buy" rating and a price target of $5.00, suggesting a potential upside of 150-180% [8]
RedCloud Drives Global Expansion With Saudi Joint Venture
Globenewswire· 2025-09-02 12:00
Group 1 - RedCloud Holdings plc has signed a Joint Venture with Kayanat to transform Saudi Arabia's estimated $60 billion market for Fast Moving Consumer Goods (FMCG) [1][2] - The partnership aligns with Saudi Arabia's Vision 2030, utilizing AI-powered trading technology to enhance the digital exchange of FMCG products [2][4] - RedCloud Arabia will be jointly owned by RedCloud and Kayanat, headquartered in Riyadh, and plans to launch operations in Q4 2025 [3][4] Group 2 - The RedAI platform will facilitate efficient B2B purchases and inventory decisions for retailers, leveraging AI to analyze complex purchasing behaviors [5][6] - The joint venture aims to introduce greater transparency and efficiency to supply chains, empowering local brands to scale and compete globally [4][8] - Kayanat is focused on building local expertise and fostering a self-sustaining economy in alignment with Saudi Vision 2030 [7][8]