Shares of the technology company Inuvo, Inc (INUV) raised 34.35% in the after-hours trading on Monday. The company saw its stock price climbing 23.58% to $1.31 in the regular session on the day. An SEC filing that revealed a subsidiary of the company entering into a service agreement with Google caused the stock price to surge.
What has happened?
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INUV is one of the biggest providers of artificial intelligence-powered marketing solutions for brands and agencies. In the context of digital marketing, it provides agencies, advertisers, and partners with powerful, anonymous, and proprietary consumer intent data that help them deliver consumer-oriented product & brand messaging strategies.
Digital commerce companies can leverage INUV’s unique and patented AI technologies and partnerships to create innovative and powerful marketing and eCommerce products that offer a fully integrated, seamless user experience and create a maximum performance. The Vertro company has been an online advertising and search company since the early ’90s and was the owner of the ALOT product portfolio until it was completely acquired by INUV in 2012.
Filing with the SEC shows that Vertro, Inc entered a Google Services Agreement with Google LLC on February 24, 2021, that is in effect as of March 1, 2021. Google agreed to allow Vertro to use its AdSense For Search and WebSearch services on approved websites. A termination in accordance with the terms of the Agreement will take effect on February 28, 2023, unless the Agreement is terminated earlier. Termination provisions are contained in the Agreement as per usual.