Software company Yext Inc. (NYSE: YEXT), which develops search algorithms, will partner with what3words. As part of this partnership, Yext customers will be able to install the what3words app and get more accurate information about the location of different objects.
Yext’s software helps partners improve the accuracy of their search queries as well as manage other data such as updating service listings, hours of operation, and location information on maps online, voice, etc.
The platform uses artificial intelligence to collect and systematize business information and deliver it as responses to customers, employees, and partners. Yext customers include utility companies and government organizations.
The platform collects critical business information from over 100 million listings and sends over 1 billion updates per year through the industry’s largest network of direct integration partners, including platforms -forms such as Google, Amazon Alexa, Apple Maps, and many more.
Please note that what3words is a location app that allows you to find the addresses you need more accurately than popular maps. The service is used by logistics, couriers, and other companies around the world. A high level of accuracy will help Yext dramatically improve the browsing experience and differentiate brands.
The company generally receives positive feedback from its customers who say that its platforms improve the quality of voice service and typed search queries. Ultimately, this improves competitiveness by improving customer satisfaction.
Last week, Yext released quarterly results that beat Wall Street forecasts. Net loss was $25.8 million and revenue for the quarter increased 7% to $98.8 million.
Although the stock has performed remarkably well in recent months, the overall interest from investors has dropped noticeably. That has seen its trading volume surge by 40.41%, figures that rank poorly compared to the stock’s average volumes. This information is critical as it reflects the stocks’ float size, given that the market is exposed to 117.14 million shares of the company.