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Remark Holdings, Inc.  (MARK)
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Remark Holdings, Inc.

Business Description


Remark Holdings, Inc. and subsidiaries, which include its consolidated variable-interest entities (“VIEs”), are primarily technology-focused. Our KanKan social media data intelligence platform serves as the basis for our development and deployment of artificial-intelligence-based (“AI-based”) solutions for businesses in many industries and geographies. We also own and operate digital media properties across multiple verticals, such as travel and entertainment (Vegas.com) and young adult lifestyle, that deliver relevant, dynamic content that attracts and engages users on a global scale. Our U.S. operations are headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California, and our China operations are headquartered in Chengdu, China with additional operations in Beijing, Shanghai, and Hangzhou. Our common stock, par value $0.001 per share, is listed on the NASDAQ Capital Market under the ticker symbol MARK.

We currently earn a majority of our revenue from sales of various travel and entertainment products (including lodging, air travel, show tickets and tours) booked through our travel and entertainment segment, consisting of Vegas.com and its related websites (including LasVegas.com), mobile applications and retail locations.

We also recognize revenue from the following sources:


sales of financial-technology (“FinTech”) products and services from our KanKan business


sales of AI-based products and services from our KanKan business


various advertising mechanisms associated with our websites


Excluding general and administrative expense, the primary costs we incur to earn the revenue described above include:


credit card fees


costs related to providing tours, such as permits, fees, fuel, vehicle leases and vehicle repair


software and website development costs, including licensing costs for third-party software


data acquisition and customer acquisition costs


costs associated with marketing our brands


costs associated with developing and producing the content on our websites and the content we provide to third parties

Travel and Entertainment

Vegas.com comprises our travel and entertainment business. We believe that Vegas.com is the premiere online booking service for all of the exciting travel and entertainment opportunities related to Las Vegas and the immediately-surrounding areas. Vegas.com offers users the ability to book lodging, air travel, show tickets and tours, and its customer service team is staffed by Las Vegas locals who are intimately familiar with Las Vegas and the various products and services offered through the website.


Technology and Data Intelligence

We use the KanKan name in reference to our proprietary data intelligence software (the “DI Software”). Our DI Software uses proprietary data crawlers to collect publicly-available consumer data from most major social media platforms around the world, and other sources of consumer data worldwide. We have also entered into online and offline data partnerships with providers such as Alibaba and Tencent who provide us with data regarding shopping habits, eating habits and other types of consumer data that supplement the massive amounts of data that our DI Software collects.

The data collected by the DI Software primarily serve as the basis for our development and deployment of AI-based solutions for businesses in many industries and geographies. We have developed KanKan SmartEyes, a collection of software programs that we can configure to perform facial, gesture, and object recognition (or all or any combination of those functions) on video streams. We seek to deploy KanKan SmartEyes primarily in public safety, food safety, retail and other industries (e.g., convenience stores, fast food restaurants, and retail stores) where it can be used, among other purposes, to identify rules violations that are then forwarded to the client (e.g., law enforcement or food safety inspectors) for follow up. We also developed KanKan Media Box, a software program that analyzes video, automatically recognizes and tags persons and objects in the video, and then automatically performs edits based on the tagged items.

Our ability to “train” our DI Software to discern among certain important consumer lending metrics allows us to provide a FinTech service for affiliates of certain major banks in China. Pursuant to agreements with those affiliates, we use KanKan’s DI Software to screen potential loan candidates for short-term loans to identify high-quality loan candidates for such banks and lending institutions.

 


   

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