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.