The rise of remote working during the coronavirus outbreak
(New York, NY; March 2, 2020) TransparentBusiness Inc. announced today its third round of financing, inviting investors who seek crisis-benefitting opportunities to apply for a limited block of 5 million shares of its common stock.
The recession fears triggered by the COVID-19 coronavirus outbreak, declared by WHO as the Global Health Emergency, and the record-setting plummeting of major stock markets cause millions of investors to seek recession-resilient opportunities. TransparentBusiness executives argue that the Return on Investment for the third round investors may exceed 110,000% despite the global financial crisis. Such claims would be easy to dismiss as too-good-to-be-true, if not for the fact that TransparentBusiness investors include current and former executives of Morgan Stanley, Merrill Lynch, J.P. Morgan, Stifel, Bank of America, Barclays Global Investors, UBS, Wells Fargo, Goldman Sachs, Citigroup, Trust Company of the West, Deutsche Bank, Telefonica, CA Technologies, Airbus and Accenture.
Designated by Citigroup as the Top People Management Solution, TransparentBusiness platform, is an ideal tool to facilitate work-from-home, essential for Continuity of Government and continuity of business operations in the affected areas. News media around the world has reported on the importance of being prepared for a pandemic and TransparentBusiness is an essential element of Emergency Preparedness / Pandemic Response allowing businesses to remain productive, see kmgi.us/r3.
Apart from directly benefiting from the pandemic-caused shift to remote work, TransparentBusiness exhibits a unique combination of other recession-resilient features. “As our platform greatly reduces labor costs, it’s more urgently needed during economic downturns than times of irrational exuberance,” said Alex Konanykhin, CEO of TransparentBusiness. “Additionally, legislators in 33 states have introduced bills which seek to make transparent verification of billable hours mandatory for government contractors, and mandatory services may not be shed, unlike most other costs.”
In a video at kmgi.us/506, TransparentBusiness discusses additional factors of its recession resiliency, including the residual nature, stickiness and high-profit margin of its SaaS business model. Nonetheless, Andrew Winn, the Chief Investor Relations Officer of TransparentBusiness, stresses that all equity investments involve risks and that investors shall carefully examine and challenge the opinions expressed in its investment summary.
Here are 5 things that make TransparentBusiness recession-resilient:
Boosting productivity and transparency. The software can coordinate and boost productivity by 15-40%. Plus, one of the most important missions of the software is that it addresses transparency when it comes to billable hours. It helps companies meet the billable hour transparency that is required by law in many states around the country.Emergency Ready. With pandemic issues like coronavirus, it’s imperative that corporations have a way for their employees to work remotely. TransparentBusiness has been designed to offer that seamless transition that companies need, especially during emergency times.Cost-Cutting Solutions. During a recession, companies need to find a way to scale back on their expenses. Being able to have employees work remotely is an effective way to reduce overhead and associated costs.Global Appeal. Today’s business world relies upon interactions that take place around the world. TransparentBusiness makes it simple for a global market to continue to thrive, despite an economic recession, health emergencies, and more.Market size. The target market for TransparentBusiness software has the ability to be the primary tool for managing work processes for over 100 million people who engage in computer-based work around the world.
“The value of technology platforms may grow to tens of billions of dollars,” said Mr. Winn, pointing out to such examples as Whatsapp, sold for $19 billion; Twitter, which reached a market cap of $35 billion; Tik Tok, which reached a valuation of $75 billion, and Salesforce, which reached a market cap of $160 billion. “We believe that TransparentBusiness has the potential to quickly expand and become the default solution for remote workforce management. However, business potential by itself does not guarantee success, which is why we seek additional funding for our growth.”
“The fundraising strategy, approved by our Board of Directors, called for starting a $10 million round on May 1st and for $15 million on September 1 of this year,” said Howard Needle, the CFO of TransparentBusiness, “however, due to the financial crisis prompting investors to urgently seek recession-resilient opportunities, we are prepared to accelerate and, possibly, combine these rounds. Starting this week, we accept investors’ applications for participation in both rounds. The minimum investment is $50,000 and is subject to our approval. The applications shall be submitted at TransparentBusiness.com/invest and the priority will be given to institutional investors as well as experienced financial and IT executives. Overall, we seek to raise $1.1 billion to make TransparentBusiness synonymous with the category of Business Transparency, globally.”
About TransparentBusiness: Designated by Citigroup as the "Top People Management Solution” our TransparentBusiness.com platform greatly increases the productivity of remote work, protects from overbilling, allows for easy monitoring and coordination of geographically distributed workforce and provides real-time information on the cost and status of all tasks and projects, visit the website at: https://transparentbusiness.com/.