Gridsum signs 3-year contract extension with L'Oreal

Gridsum Holding Inc. (NASDAQ: GSUM), a provider of cloud-based big-data analytics and artificial intelligence (“AI”) solutions in China, has announced that it has signed a three-year contract extension from 2018-2020 with L´Oréal, the company said.

Gridsum Holding is a provider of cloud-based big-data analytics and AI solutions for multinational and domestic enterprises and government agencies in China. Gridsum´s core technology, the Gridsum Big Data Platform, is built on a distributed computing framework and performs real-time multi-dimensional correlation analysis of both structured and unstructured data. This enables Gridsum´s customers to identify complex relationships within their data and gain new insights that help them make better business decisions.

L´Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 34 diverse and complementary brands, the group generated sales amounting to 25.8 billion euros in 2016 and employs 89,300 people worldwide. As the world´s beauty company, L´Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.