Shanghai, China-based CooTek (Cayman) Inc. (CTK) is an artificial intelligence (AI) and big data technology-based mobile internet company that operates in the United States, China, and internationally. The company intends to utilize its expertise in mobile games and online literature to build a metaverse. Lejlu, a Shanghai-based game studio in which CTK has invested, is developing a metaverse game that targets a female audience.
Software solutions remain in high demand as companies invest in digitization to keep their processes efficient. The need for advanced-technology integrated software solutions is increasing. According to Statista, revenue in the software market is expected to reach $824.85 billion by 2026, growing at a 7.4% CAGR. Alas, CTK has not been able to capitalize on the software industry’s solid growth amid the COVID-19 pandemic, as evidenced by the decline in its revenue and earnings.
