LAS VEGAS, July 15, 2019 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence (AI) solutions and digital media properties, today commented on the recently announced strategic investment in Sharecare led by Quest Diagnostics.
"We are proud to have been a founding technology partner of Sharecare, supporting Jeff Arnold, Dr. Oz and the team they have assembled in building Sharecare, whose recent round of financing from a key strategic partner further demonstrates the value that has been created," said Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings. "Similarly, over the past few years, we have been steadily building our Artificial Intelligence Business via Remark AI and KanKan AI. The potential monetization of our Sharecare holdings allows us the flexibility to accelerate the development and deployment of our Artificial Intelligence (AI) Technology world-wide, while also strengthening our capital structure through debt elimination, realizing the value we are creating as we continue to monetize and commercialize the proprietary Business Analytics, Demand Analytics and Facial Recognition technology we have developed to service the Retail, Workplace Safety, and Smart City Markets."
With the addition of Quest Diagnostics as a strategic partner and investor joining healthcare leaders such as HCA, Trinity Health, The Heritage Healthcare Innovation Fund and Care First; Discovery Communications, Harpo Productions, and Sony Pictures Television, Sharecare has now raised in excess of $400 million of total capital and is becoming one of the most watched digital health companies having been highlighted by digital healthcare venture capital fund Rock Health's 12- Month Anticipated IPO Watch List (https://www.businessinsider.com/10-digital-health-startups-poised-to-ipo-zocdoc-23andme-heartflow-2019-7) and having moved up from 242 to 212 out of 500 fast growing companies on Deloitte Technology's Fast 500 List in 2018.
As a founding technology partner and investor, Remark Holdings congratulates Jeff Arnold, Dawn Whaley, and the Sharecare management team for their execution and success in achieving 2018 Revenue in excess of $300 Million and a Target goal of $1 Billion of Revenue by 2020. ---- (https://www.youtube.com/watch?v=HomI4vfisRE).
About Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated suite of AI solutions that enable businesses and organizations to solve problems, reduce risk and deliver positive outcomes. The company's easy-to-install AI products are being rolled out in a wide range of applications within the retail, financial, public safety and workplace arenas. The company also owns and operates digital media properties that deliver relevant, dynamic content and ecommerce solutions. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website at www.remarkholdings.com.
This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.
E. Brian Harvey
Remark Holdings, Inc.
The Plunkett Group, Inc.
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SOURCE Remark Holdings, Inc.