AUSTIN, Texas -- (Business Wire)
Perk.com Inc.(TSX:PER) (“Perk” or the “Company”), a
leading cloud-based mobile rewards platform provider, today announced it
has completed the acquisition of Playerize Network Inc. (d.b.a.
SuperRewards) (“SuperRewards”), an innovator in alternative
payments and virtual rewards with its worldwide direct payments and
performance advertising platform that provides developers with
monetization advantages while delivering engaged consumers to premiere
brand advertisers.
Founded in 2007, SuperRewards initially got its start monetizing games
on Facebook, and has since evolved to include other desktop and mobile
products such as Offer Wall, which delivers highly-targeted advertising
offers and scores of locally-relevant direct payment methods to millions
of online users. Users can earn virtual currency and goods by completing
offers, such as filling out surveys, watching videos, or subscribing to
online services while developers are able to monetize non-paying users
and obtain performance metrics ranging from 10 to 100 times higher than
simple ads. SuperReward’s cofounders, Jeff Magnusson, and Lyal Avery,
will be joining the Company.
Ted Hastings, Chief Executive Officer of Perk, stated: “We are pleased
to complete the acquisition of SuperRewards, which will expand our
rewards platform beyond Perk Points to include alternative payments and
virtual rewards. SuperRewards was built with the same assumption as
Perk, that users want to pay for digital goods with their time and
attention as their primary currency. SuperRewards has a customer base
that includes over 2,000 developers and has helped to drive growth for
the world’s top game and app publishers while hosting hundreds of
millions of user interactions each month. We are pleased that industry
veterans Jeff and Lyal will be joining our team, as we are confident
that their knowledge and expertise will add value and fuel growth over
the long-term.”
Jeff Magnusson, Co-CEO of SuperRewards, said: “Since 2011, Lyal and I
have worked together focusing on driving growth and revenue for social
and mobile game studios and with SuperRewards, we have been able to
establish it as a leader in game growth and monetization. By partnering
with Perk, we are able to further that mission and have a competitive
advantage over any individually focused rewards platform or alternative
payment provider. We are excited to be a part of a leading mobile
rewards platform and look forward to a long successful partnership.”
Under the terms of the transaction Perk issued 455,000 Perk common
shares and paid USD $350,000. The issuance of an additional 320,000 Perk
common shares is subject to certain performance based targets being met
in the first 12 months following closing of the transaction.
SuperRewards revenues were $8.4 million for the trailing twelve months
ended September 30, 2015 and Perk expects SuperRewards to be EBITDA
positive.
About Perk.com Inc.
As a leading mobile rewards platform, Perk brings together the interests
of consumers, advertisers, and publishers by offering users rewards such
as Perk Points which is a digital reward system. Perk Points can be
redeemed for gift cards, cash, or loaded on to Perk Plastik, a
re-loadable branded debit card. In addition, Perk works with brands and
publishers to reach consumers through truly engaging and innovative
formats using rewards as a way to achieve maximum engagement of their
brands and products.
Perk currently owns and operates 15 mobile applications that allow
members to earn Perk Points. Perk also operates numerous websites as
well as AppTrailers, a leading mobile video rewards app. In addition to
offering Perk Points to members through its own mobile applications and
websites, Perk launched Appsaholic Software Development Kit which allows
mobile and desktop publishers to utilize Perk’s rewards system to engage
and entice users through the publisher’s own applications and websites.
Additional information about Perk can be found at its corporate website: ir.perk.com.
Cautionary Statement Regarding Forward Looking
Statements
This press release contains forward-looking statements, including with
respect to Perk’s business, Perk’s ability to grow its active consumer
base; user and advertiser engagement; Perk’s ability to establish new
marketing partnerships; Perk’s ability to expand into new markets; and
Perk’s ability to acquire and integrate new businesses and technologies.
Such forward-looking statements reflect Perk’s expectations about its
future operating results, performance and opportunities that involve
substantial risks and uncertainties. When used herein, the words
"anticipate", "believe", "estimate", "upcoming", "plan", "target",
"intend" and "expect" and similar expressions, as they relate to Perk or
its management, are intended to identify such forward-looking
statements. These forward-looking statements are based on information
currently available to Perk and are subject to a number of risks,
uncertainties, and other factors that could cause Perk’s actual results,
performance, prospects, and opportunities to differ materially from
those expressed in, or implied by, these forward-looking statements,
including, but not limited to: maintenance by Perk of relationships with
advertising network providers and partners; successful development of
the “Perk” brand; Perk’s ability to keep up with rapid technology
developments in Perk’s markets; Perk’s ability to avoid defects in
products and services delivered by Perk; Perk’s ability to attract app
and website developers to its Appsaholic SDK; and Perk’s ability to
successfully enter new business areas and geographic markets; success of
new products developed by Perk and Perk’s ability to retain key members
of its management team.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151125005536/en/
Contacts:
Perk.com Inc.
Ted Hastings
Chief Executive Officer
ted@perk.com
or
Jeff
Collins
Chief Financial Officer
jeff@perk.com
or
Investor
Relations:
The Equity Group Inc.
Adam Prior,
212-836-9606
Senior Vice President
aprior@equityny.com
or
Terry
Downs, 212-836-9615
Associate
tdowns@equityny.com
Source: Perk.com Inc.
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