Starbox launches “StarboxAI VI-Pro – Live Streaming”.

KUALA LUMPUR, Malaysia, Oct. 22, 2024 (GLOBE NEWSWIRE) — Starbox Group Holdings Ltd. (Nasdaq: STBX) (“Starbox” or the “Company”), a cash rebate, advertising and payment solutions service provider, is pleased to announce that its wholly owned subsidiary, Starbox Technologies Sdn. Bhd. (“Starbox Technologies”) launches “StarboxAI VI-Pro – Live Streaming System,” a platform designed to support Starbox’s 800+ existing merchants in their live streaming social commerce efforts. This artificial intelligence (“AI”)-based system improves digital engagement and is designed to increase sales performance through automated content creation and real-time engagement tools.

What sets StarboxAI VI-Pro – Live Streaming System apart is its integration into the company’s existing cash rebate ecosystem, which currently serves Starbox’s over 2 million existing users. The integration allows merchants to offer real-time cash refunds during live streaming events, creating a seamless experience for merchants and users alike and encouraging users to engage with and purchase products. Starbox Technologies retains a percentage of cash refunds generated from successful sales as revenue.

The StarboxAI VI-Pro live streaming system allows traders to broadcast 24/7 on platforms such as WeChat channels, enabling continuous audience engagement. The system can read out live streaming content, respond to audience questions in real time, and guide the audience to purchase products. These features can help merchants provide a comprehensive shopping experience and are expected to increase sales conversion rates.

Lee Choon Wooi, Chief Executive Officer and Chairman of Starbox, noted: “The launch of StarboxAI VI-Pro – Live Streaming System reflects our commitment to empower merchants with AI technology. We believe this unique connection to our existing cash rebate ecosystem with over 2 million users will enhance the live streaming experience while increasing revenue. With real-time interaction, 24/7 live streaming and seamless buying advice, dealers can potentially engage customers and expand their market reach.”

This launch is in line with Starbox’s vision to strengthen the social commerce landscape and complements the recent successful launch of the AI-Driven Digital Human System for merchants on WeChat channels. As demand for personalized and interactive content grows, Starbox expects to continue introducing innovative solutions to improve the way businesses communicate, engage and thrive in the digital age.

About Starbox Group Holdings Ltd.

Headquartered in Malaysia, Starbox is a technology-driven, fast-growing company with a focus on innovation. Starbox aims to be a comprehensive technology solutions provider in Southeast Asia and is also committed to building a cash refund, advertising and payment solutions business ecosystem targeting micro, small and medium-sized enterprises that lack the bandwidth to develop an internal data management system for effective marketing. The company connects retailers with retail buyers to facilitate transactions through cash discounts that retailers offer on its GETBATS website and mobile app. The Company provides digital advertising services to advertisers through its SEEBATS website and mobile app, GETBATS website and mobile app, and social media. The company also offers payment solution services to merchants. For more information, visit the company’s website: https://ir.starboxholdings.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximately,” “assessed,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “predicts,” “intends.” “plans,” “will,” “would,” “should,” “could,” “can,” or similar expressions. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances or changes in its expectations, except as required by law. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it cannot assure you that such expectations will prove to be correct. The Company cautions investors that actual results may differ materially from anticipated results and encourages investors to review other factors that could affect future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission Securities and Exchange Commission. References and links (including QR codes) to websites have been provided for convenience and the information contained on such websites is not incorporated by reference into this press release.

For further information please contact:

Starbox Group Holdings Ltd.
Investor Relations Department
E-mail: [email protected]

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
E-mail: [email protected]