Net Element (NASDAQ: NETE) is a financial technology company in the process of transforming its business model to become a pure-play electric vehicle (“EV”) manufacturer through a pending merger with privately-held Mullen Technologies Inc. On the heels of success in the global financial technology sector, providing next-generation electronic payments solutions spanning across point-of-sale, e-commerce and mobile devices, Net Element is preparing for life in the fast lane as it shifts into the EV space. Under the leadership of CEO Oleg Firer, a veteran entrepreneur and corporate turn-around specialist, Net Element realized exponential revenue growth from $0 in 2013 to $65 million as of 2019. In its radically transformed business model, Firer is driving corporate management “buy-in,” a factor he believes may be just as critical as the EV sector’s long-term potential. “Being a chief executive in business is very similar to being a diplomat,” Firer noted in a recent update. “Managing a business in today’s environment requires constant negotiations at the executive levels and diplomatic approach to mid-management. One of my favorite diplomatic approaches to management is an ability to promote and seed an idea or a solution within, where your colleagues begin to believe in it as much as they begin to present and solicit this idea or solution to the rest of the group.”
To view the full article, visit https://ibn.fm/MQJsF
About Net Element Inc.
Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the U.S. and selected emerging markets. On Aug. 5, 2020, Net Element announced the execution of a definitive agreement to merge with privately-held Mullen Technologies Inc., a Southern California-based electric vehicle company in a stock-for-stock reverse merger in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company (the “contemplated merger”). The contemplated merger is subject to customary closing conditions, regulatory approvals and shareholder approval for both companies. For additional information, visitwww.NetElement.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE
About MissionIRNewsBreaks
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
[email protected]
Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html
