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SOURCE My Size Inc
To be on display at the International CES Innovation Tradeshow in Las Vegas on January 9-12, 2018
A transformation in the parcel post market: You can now measure your box with just one step using a smartphone-based application
AIRPORT CITY, Israel, Dec. 21, 2017 /PRNewswire/ -- My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement applications, announced today that it is upgrading its BoxSizeID application so that you will be able to measure an object with your smartphone in just one step, instead of the currently used customary three steps.
The technological upgrade has been enabled by the development of a new and innovative algorithm which is intended to make the box measurement process simpler and shorter than ever. Historically, measurement of boxes required the examination of each side of the box, examining three different parameters – height, length and depth. Now, with the use of the upgraded BoxSizeID, boxes can be measured in a single step by placing the smartphone at the top corner of the box and holding it in the air while moving to the opposite bottom corner. The measurement process for an average box will take just a few seconds. Using this single measurement, the BoxSizeID algorithm will derive the box's three dimensions (height, length and depth). The algorithm is currently in the initial stages of testing.
"The tremendous global growth in online commerce requires shipping companies to operate in a completely different manner – more efficiently, quickly and accurately - than in the past. This is where our application fits in as it continues to help shipping companies by improving and streamlining their work processes and saving them time and money," says Ronen Luzon, My Size CEO. "I am convinced that the new algorithm that our R&D team worked on diligently, will further improve the application and bring forth a different, better, faster and more accurate reality for the shipping companies."
BoxSizeID is an intuitive box measurement application which enables customers to quickly and easily measure the size of the box and accurately calculate the shipping fees. BoxSizeID also provides shipping companies a variety of precise logistical data for more efficiently managing their shipping processes, even before the parcels arrive at their distribution centers. According to Accenture Consulting, the parcel post market is expected to grow by 9% per year and reach over $343 billion by 2020.
As previously announced, the Company will be participating in the international CES innovation tradeshow in Las Vegas on January 9-12, 2018 (Booth # 51702), where it will be displaying the application of its products.
About My Size, Inc.
My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique measurement technology based on sophisticated algorithms and cutting edge technology with broad applications including the apparel, e-commerce, DIY, shipping and parcel delivery industries. This proprietary technology is driven by several algorithms which are able to calculate and record measurements in a variety of novel ways. To learn more about My Size, please visit our website.www.mysizeid.com. Follow us on Facebook, LinkedIn and Twitter.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Rimon, Cohen and Co.
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