Peeks Social to Launch Website, App Reaches New Record Quarterly Deposits
TORONTO, June 05, 2018 (GLOBE NEWSWIRE) -- Peeks Social Ltd. (TSXV:PEEK) (OTCQB:PKSLF) (“Peeks Social” or “the Company”) is pleased to provide updated key performance indicators (“KPIs”) relating to the Peeks Social App. The Company is also pleased to announce that the Peeks Social App reached an all-time high of $484,444 CAD in monthly user deposits for May 2018 and maintained over 2 million monthly user sessions.
The table below provides a summary of select recent quarterly KPIs for the Peeks Social platform. Q1 2019 represents the three months ended May 31, 2018.
| Key Performance Indicator||Q4 2017|| ||Q1 2018|| ||Q2 2018|| ||Q3 2017|| ||Q4 2018|| ||Q1 2019|| |
| Total Number of User Sessions (1)||2,890,000|| ||5,134,000|| ||4,631,000|| ||5,779,000|| ||6,264,000|| ||6,203,000|| |
| Gross Deposits (2)||$312,000|| ||$774,000|| ||$1,174,000|| ||$1,254,000|| ||$1,306,000|| ||$1,437,000|| |
The record deposits for the month of May 2018 are included in Q1 2019 above (three months ended May 31, 2018). Since the launch of the Peeks Social App in November 2016, the App has experienced six continuous quarters of increased user deposits and positive trends across other KPIs, such as user sessions per quarter.
“We are very pleased with sustained quarter-over-quarter growth across a variety of key metrics on the Peeks Social App. We continue seeing increased engagement from our loyal user base both in terms of the dollars deposited and visits to the App. Simply put, people are spending more and coming back more often,” states Mark Itwaru, Chairman and CEO. “After constant testing and refinement of user acquisition campaigns and marketing efforts, we believe that we are now able to dial in the most cost-effective user acquisition campaigns to drive overall revenue growth.”
LAUNCH OF PEEKS.SOCIAL WEBSITE
The Company believes that a key part of the process of increasing both users and revenues is to make it easier for streamers to create content and for users to view content. In order to accomplish this, Peeks Social will be launching a fully functional web version on www.peeks.social in July 2018. The Company anticipates that the mobile-friendly web version will amplify the capabilities of the platform in many ways, including by improving the conversion rate of new users into active and paying users, and by accessing new audiences of users who prefer consuming livestreaming video on their desktops. For example, desktop viewers who are following Peeks Social influencers through to Peeks Social from other social platforms will encounter fewer steps in the registration process resulting in higher conversion rates and ultimately a lower cost per installation for the Company. Users who are forwarded to the Peeks Social App from their desktops must currently download and install the App in order to interact and consume content. Additionally, a fully functional website will increase the percentage of overall deposits made through the www.peeks.social website, resulting in higher margins for the Company. The majority of deposits currently received by the Peeks Social App are processed through in-app payments, which are subject to a 30% payment processing fee from their respective app stores.
DEVELOPMENT OF PERSONAS SOCIAL NETWORK
The recent acquisition Personas.com Corporation represented a significant milestone for the Company in that it acquired all of the technology assets of the Peeks Social livestreaming App, however it also acquired certain other technology assets including the source code and complete rights to the “Personas” App. Personas was a product line developed by Personas.com Corporation prior to the launch of the Peeks Social App in partnership with the Company. Personas is envisioned as a multi-functional social network with a key emphasis around privacy and security that is reached through the segmentation of users’ social contacts such as friends, family & business. Further social features include multiple video, photo, text based communications, financial tools such as real time transactions between contacts, and content creator tools such as private video chat and subscriptions to content channels.
The Company resumed development and testing work on the Personas App in May 2018 including updating the user interface and the addition of new features and functions designed to increase utility and market appeal to today’s social media users. The Company is considering potential launch dates for the Personas App with a target window of summer 2018. Regular updates and further Personas product details will be provided as the Company progresses in launching these new initiatives.
The Peeks Social App can be downloaded in either the Apple or Google app stores, or by visiting www.peeks.social
- This KPI represents the number of times the Peeks Social app was accessed by users. Data was provided through Google Analytics. For additional information on Google Analytics’ definition of “session” and the methods of calculating “sessions,” please refer to https://support.google.com/analytics.
- This KPI represents the total amount of external deposits into user wallets in the Peeks Social App. Wallets may contain USD or a digital currency inside the Peeks Social App referred to as “coins.” Deposits to wallets may be made via credit card, PayPal, or in-app purchase. “Coins” are sold at a premium to their value in order to cover app store transaction fees and as an additional revenue source for the platform. These premiums are not included in this KPI. Deposits denominated in USD are translated to CAD using the monthly average exchange rate as published by the Bank of Canada. While the “gross deposits” is an important KPI for the Peeks Social App, it is not a direct indicator of the Company’s financial performance.
For further information, please contact:
|Peeks Social Ltd.|| |
|Mark Itwaru||David Vinokurov|
|Chairman & Chief Executive Officer||Director Investor Relations|
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
The information and statements in this news release contain certain forward-looking information relating to the timing of the deployment of the Peeks Social web platform and the Personas social network, along with related functionalities and potential impacts on Company performance metrics. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. The Company’s forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking information.
Infographics accompanying this announcement are available at:
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