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Founded Year

1998

Stage

Merger | Merged

About g7

As of June 2nd, 2022, g7 was acquired by Wavecrest. The terms of the transaction were not disclosed. g7 is a provider of retail marketing offering services such as Retail Execution, and Retail Experience. Retail Experience service creates a more engaging experience for shoppers by offering rewards and more. The Retail Execution service provides protection of products and fights for potential shoppers. The company was founded in 1998 and is based in Bucharest, Romania.

Headquarters Location

Helesteului 5

Bucharest, 011985,

Romania

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Latest g7 News

GDP, Sanctions, Two Economic Blocs: BRICS Versus G7 Performance in 2023

Feb 18, 2024

GDP, Sanctions, Two Economic Blocs: BRICS Versus G7 Performance in 2023 GDP, Sanctions, Two Economic Blocs: BRICS Versus G7 Performance in 2023 Last December, Russian Foreign Minister Sergey Lavrov predicted that the combined GDP of the BRICS countries together with its new members — Egypt, Iran, the... 18.02.2024, Sputnik International 2024-02-18T16:59+0000 https://cdn1.img.sputnikglobe.com/img/07e7/06/1e/1111588100_0:11:2292:1300_1920x0_80_0_0_f9780e9df4a6185342619127b3613c6b.jpg As the newly-expanded BRICS bloc of nations is set to outpace the Group of Seven in share of global GDP by 2028.Three of G7 countries are already facing serious economic problems.Germany’s economic crisis plunged Europe's once-leading economy into a technical recession last year, complete with deindustrialization and soaring inflation. Heavily-industrialized Germany has been hit harder than other EU members by sanctions on Russian gas, oil and coal imports.Source: International Monetary Fund Real GDP growth statistics.Fellow G7 member Japan followed suit, faced with its first recession in five years in the last quarter of 2023. The Asian giant lost the title of the world's third-largest economy to Germany by the end of 2023, according to Japanese government data. Its economy shrank by an annualized rate of 0.4 percent in the fourth quarter of 2023, official data released on February 15 showed.Japan’s economy had already suffered a 2.9 percent contraction between July and September last year — a technical recession — as anti-Russian sanctions over the Ukraine conflict had a “boomerang effect” rather than doing damage to Moscow.Not to be outdone, Britain joined Japan among the G7 members mired in a recession. UK GDP fell by 0.2 percent year-on-year in the fourth quarter of 2023 – its second consecutive quarterly decline, according to the country's Office for National Statistics (ONS). Overall British GDP is believed to have increased by a mere 0.1 percent in 2023, with output shrinking in December by 0.1 percent. GDP per capita contracted by 0.6 percent in the fourth quarter.All three of the above-mentioned G7 countries are grappling with grim economic forecasts for the future.As for the BRICS countries, they first overtook the G7 member-states' share of the world's total gross domestic product (GDP) in terms of purchasing power parity (PPP) in 2020. By 2023 they outpaced the G7 — which includes Canada, France, Germany, Italy, Japan, the United Kingdom, and the US as well as the European Union even further. The BRICS group now boasts 32 percent of the world's GDP, compared to 30 percent generated by the G7 countries, according to data released by Statista Research Department this week.At the time of the BRICS summit last year, Russia’s President Vladimir Putin noted that the ratio of wealth of the G7 to BRICS favoured the expanded bloc's goal of building a multilateral and multipolar international economic infrastructure.Russian Foreign Minister Sergey Lavrov noted last December that the share of Global South and Global East countries in the overall world economy was growing, partly thanks to the many errors and unacceptable actions by the United States and its allies. "The total GDP of the BRICS in the new line-up will already significantly exceed that of the G7" in 2024, Lavrov said.Echoing this forecast, President of BRICS New Development Bank, former Brazilian President Dilma Rousseff said at the World Governments Summit in Dubai on February 13 that the share of BRICS members (Brazil, Russia, India, China, South Africa) in global GDP will increase from 35 percent to 40 percent by 2028, while the share of G7 countries will drop to 27.8 percent. https://sputnikglobe.com/20240215/japans-economy-in-vicious-circle-due-to-anti-russian-sanctions-1116804552.html Last December, Russian Foreign Minister Sergey Lavrov predicted that the combined GDP of the BRICS countries together with its new members — Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia — would far exceed that of the Group of Seven (G7) countries, with the trend set to further strengthen. As the newly-expanded BRICS bloc of nations is set to outpace the Group of Seven in share of global GDP by 2028. Three of G7 countries are already facing serious economic problems. Germany’s economic crisis plunged Europe's once-leading economy into a technical recession last year, complete with deindustrialization and soaring inflation. Heavily-industrialized Germany has been hit harder than other EU members by sanctions on Russian gas, oil and coal imports. G7 and BRICS Nations: IMF data on annual percent change of real GDP growth for 2023 G7 Country

g7 Frequently Asked Questions (FAQ)

  • When was g7 founded?

    g7 was founded in 1998.

  • Where is g7's headquarters?

    g7's headquarters is located at Helesteului 5, Bucharest.

  • What is g7's latest funding round?

    g7's latest funding round is Merger.

  • Who are the investors of g7?

    Investors of g7 include Wavecrest.

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