P3, inc. mainly operates media content and ad distribution systems (media platforms) using digital signage that are installed in narrowly selected locations such as storefronts of specified businesses. Unlike television or radio for the general public, these systems deliver location-specific content that appeal to the targeted clienteles visiting these venues. P3’s digital signage are Internet of Things (IoT) devices, which the company designs in-house and outsources production to electronics manufacturing service (EMS) providers. P3 delivers media content (information and ads) to these devices via the cloud and earns ad revenue from the advertisers in return. The company handles the development/manufacture of the devices and operates the platforms, but relies on partner companies for marketing activities and content production. The ad revenue is shared among these parties according to the terms of the agreement for each project.