Shares in HearMeOut Ltd [ASX:HMO] rocketed 31.82% higher today, thanks to an expanded partnership deal in the US.
What are the details of the deal?
HearMeOut (HMO), an audio-based social media company, has announced a revised deal with Ford Motor Company [NYSE:F]. HMO’s app has been approved by Ford for use in its cars. This gives HMO a huge user base to tap into.
It’s all part of the company’s push to enter the connected car segment. A market that expected to grow exponentially.
What does the future hold for HearMeOut?
HMO seems confident that this new arrangement will positively impact its expansion into new markets.
CEO Moran Chamsi said,
‘Having HearMeOut available in the US marketplace, which is Ford’s biggest sales region, will enable the partnership with Ford to extend to additional geographical regions.’
And the company isn’t just limiting itself to Ford. Its app recently joined the SmartDeviceLink platform, opening the company up to a worldwide network of well-known car makers and equipment suppliers.
Junior Analyst, Money Morning
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