TORONTO, ON — (Marketwired) — 09/05/17 — Peeks Social Ltd. (TSX VENTURE: PEEK)(OTCQB: PKSLF) today provided an update on the progress of the Peeks Social app in relation to competitive services on the Google Play Store.
The Company is pleased to announce that the Peeks Social app has risen in the United States to the 15th top grossing social app on the Google Play Store. The app is also rapidly approaching the top 100 overall grossing apps on the Google Play Store out of approximately 3 million apps available for download in the United States. Noteworthy is the fact that Peeks Social is 7 positions higher than its competitor Periscope on the top grossing social category list in the United States. Periscope is a Twitter owned product with reportedly 10 million plus users. The Company attributes the rising standing of the Peeks Social app to be a result of: successful marketing and sponsorship programs; the launch of the Peeks account management portal which can be found at www.peeks.com; recent changes to its digital coin pricing strategies; and to the fact that the Peeks Socialservice is a purpose built social commerce product which naturally monetizes itself.
The rise in the product’s rankings comes despite significant changes to the service in June 2017, at which time the Company made a strategic decision to further restrict access to content of a mature nature within the app. This decision was made in order to provide a more brand friendly service with the aim of attracting advertising sponsorship sales, and to allow the app to continue to grow as a mainstream service. Although the change did have a temporary impact on revenues, revenues were greater for the quarter ending August 31st, 2017, as compared to the previous quarter, resulting in 3 straight quarters of growth. The Company expects continued growth quarter over quarter for the foreseeable future.
The Peeks Social app can be downloaded in either the Apple or Google app stores, or by visiting www.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.
The information and statements in this news release contain certain forward-looking information relating to the future product performance of the Peeks Social app and the related financial performance of the Company. 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. Peeks Social Ltd.’s forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, Peeks Social Ltd. undertakes no obligation to publicly update or revise any forward-looking information.
For further information, please contact:
Peeks Social Ltd.
Chairman & Chief Executive Officer
Source: Peeks Social Ltd.