36Kr Calls Lenovo Partnership 'Milestone" for Its Enterprise Review Platform

Following a strong second quarter, 36Kr raises the bar.
Oct. 27, 2022 23:04
36Kr Calls Lenovo Partnership 'Milestone

(CapitalWatch, Oct. 27, New York) 36Kr Holdings Inc. (Nasdaq: KRKR) said its partnership with the top global computer maker Lenovo is a milestone in its brand awareness growth strategy.

Last week, 36Kr announced it will provide marketing services to Lenovo's SMB unit including customer acquisition and brand influence solutions. 36Kr said its Enterprise Service Review Platform will identify MQLs and deliver big data analysis, precision marketing, online and offline campaigns, and livestreaming events.

"This cooperation sets a benchmark for subsequent expansion with more commercial partners," a 36Kr spokesperson told CapitalWatch.

36Kr launched its Enterprise Service Review Platform in the second half of 2020, offering enterprises a convenient way to select SaaS products. While it provides SaaS companies with a full set of proprietary marketing solutions on one end, on the other it gives buyers the opportunity to research and review the suitable SaaS provider. Significantly, the company claims all reviews on the platform are authentic.

The company spokesperson gave CW some additional figures: "As of the second quarter of 2022, the platform included more than 6,600 software products, covering 16 large industries, more than 200 detailed industries, and well-known SaaS software on the market; monthly platform users are nearing 900,000, an increase of more than 18 times year-over-year. The number of merchants was nearing 900."

About its livestreaming solutions, 36Kr said that in one hour its Enterprise Service Review Platform collects more than 200 precise clues from external channels, "which not only helps manufacturers with direct customer acquisition but also accumulate new users for the company's service review platform."

In the second quarter report, released in late August, co-chairman and CEO of 36Kr, Dagang Feng, said the Enterprise Service Review Platform saw "a strong uptick in operational metrics, and its commercialization also gradually started to kick in."

Indeed, 36Kr showed strong metrics across just about all segments, including 13% revenue growth and net income of $1.3 million in contrast to losses a year ago. Gross profit rose 23%, margins improved to 62.3% from 57.4% in the same period of 2021. Further, 36Kr was able to reduce its operating expenses.

The company counted 212 online advertising services end customers and 48 enterprise value-added services end customers in the second quarter. The only drop in customers was seen in the subscription services segment, which nevertheless grew in terms of revenue, according to the report.

Lenovo (OTC: LNVGY; HKEX: 0992) marked another big partnership in a slew of many. Now, 36Kr is working with such industry leaders as ByteDance's recommendation system Volcano Engine, software giant Shenzhen Kingdee Software (OTC: KGDEY; HKEX: 0268), human capital management company Beisen Holdings, and Shenzhen-listed display maker Hitevision Co.

Feng said in the announcement last week, "Moving forward, we will continue to join hands with China's leading SaaS service providers to meet the huge digitalization demands of key industries and enterprises, creating more successful benchmark cases and cementing our position as the industry's flagship platform."

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