Peeks Social Announces Record Monthly Deposits and User Sessions

02/02/2018

TORONTO, Feb. 02, 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 platform. The Company is also very pleased to announce that the Peeks Social platform reached an all-time high of $480,000 in monthly user deposits and over 2.2 million monthly user sessions in January 2018.

The table below provides a summary of select recent KPIs for the Peeks Social platform.

Key Performance IndicatorAug 2017Sep 2017Oct 2017Nov 2017Dec 2017Jan 2018
Total Number of User Sessions (1)1,606,6001,734,8001,953,8002,090,4002,002,1002,221,000
Avg. User Session Duration (1)8min
15sec
8min
23sec
8min
19sec
7min
56sec
7min
53sec
8min
11sec
Gross Deposits (2)$370,000$384,000$415,000$455,000$456,000$480,000

Peeks Social Amalgamation Update      

The Company reports that both Peeks Social and Personas.com Corp. have agreed on all terms for the Definitive Agreement.  The Definitive Agreement is scheduled to be signed Friday February 2, 2018.  Details of the Agreement will be press released early next week subject to regulatory approval.

“We are pleased to see continuous growth across all KPIs.  We are also excited about the impending amalgamation, as the Company will finally be able to benefit from the full value of the business moving forward,” states Mark Itwaru, Chairman and CEO.

The Peeks Social app can be downloaded in either the Apple or Google app stores, or by visiting www.peeks.com.

Notes:

  1. These two KPIs represent the number of times the Peeks Social app was accessed by users and the average duration of use, respectively.  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.
  2. This KPI represents the total amount of external deposits into user wallets in the Peeks Social platform. Wallets may contain USD or a digital currency inside the Peeks Social platform referred to as “coins”. Deposits to wallets may be made via credit card 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 platform, it is not a direct indicator of the Company’s financial performance.

For further information, please contact:

Peeks Social Ltd.
Mark Itwaru
Chairman & Chief Executive Officer
647-992-7727
mark@peeks.com

David Vinokurov
Director Investor Relations
416-716-9281
davidv@peeks.com

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.

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Source: Peeks Social Ltd.

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