Snipp Receives Two Year Renewal Order From Retail Property Giant
05 Juni 2019 - 1:00PM
Snipp Interactive Inc. ("Snipp" or the “Company”) (TSX-V: SPN;
OTCPK: SNIPF), a global provider of digital marketing promotions,
rebates and loyalty solutions, today announced that the Company has
received a two-year program renewal agreement from a leading
developer of retail, dining and lifestyle destinations (the
“Customer”). The contract has unlimited upside and is based purely
on participation. In 2018 the revenue accruing from this contract
was $274,506. The program has grown by over 25% every year since
the program launched in 2015.
The Customer is one of the largest
privately-held real estate companies in the United States, with a
portfolio of retail and mixed-use properties. It is recognized
around the world as a highly innovative and successful developer of
retail complexes.
This is the third time the Customer has signed
an expanded renewal agreement with Snipp. The Customer first signed
with Snipp in 2015 and based on the success of that initial
program, extended the program on the Snipp platform in 2017. This
most recent renewal is particularly encouraging, as it was awarded
to Snipp following a comprehensive market review conducted by the
Customer. The terms of the renewal are based on “pay-per-Snipp,” a
new consumer participation model that could represent a significant
upside for the Company from increased participation and/or the
addition of new locations.
The Customer’s loyalty program rewards guests at
two of their locations when they shop, dine and see their favorite
movies at their retail centers. Along with earning points for items
purchased across the properties, guests can also get their parking
validated if they spend above a certain amount in a single visit.
The Customer has integrated SnippCheck, Snipp’s market-leading
receipt processing capability via an API into their customer
loyalty program; enabling guests to receive points by submitting a
receipt for any purchase at the property either through the
company’s app or via email, SMS or web upload. In addition, guests
are able to submit their receipts through a concierge app as part
of delivering a simple and highly satisfying user experience.
"We are extremely pleased to once again expand
our relationship with an existing customer, and are proud to have
secured this renewal based on an extensive market review conducted
by the client. This is a strong testament to the value of our
solutions and is another example of our growing list of longer-term
agreements with existing customers,” said Atul Sabharwal, Chief
Executive Officer at Snipp. "We look forward to growing our
relationship with the client as the program expands to cover
additional properties in their portfolio.”
Visit the Snipp website at http://www.snipp.com/
for Snipp’s full suite of solutions and case examples of Snipp
programs.
About Snipp:
Snipp is a global loyalty and promotions company
with a singular focus: to develop disruptive engagement platforms
that generate insights and drive sales. Our solutions include
shopper marketing promotions, loyalty, rewards, rebates and data
analytics, all of which are seamlessly integrated to provide a
one-stop marketing technology platform. We also provide the
services and expertise to design, execute and promote client
programs. SnippCheck, our receipt processing engine, is the market
leader for receipt-based purchase validation; SnippLoyalty is the
only unified loyalty solution in the market for CPG brands. Snipp
has powered hundreds of programs for Fortune 1000 brands and
world-class agencies and partners.
Snipp is headquartered in Toronto, Canada with
offices across the United States, Canada, Ireland, Europe, and
India. The company is publicly listed on the Toronto Stock Venture
Exchange (TSX-V) in Canada and is also quoted on the OTC Pink
marketplace under the symbol SNIPF. Snipp was selected to the TSX
Venture 50®, an annual ranking of the strongest performing
companies on the TSX Venture Exchange, in 2015 and 2016. SNIPP IS
RANKED AMONGST THE TOP 500 FASTEST GROWING COMPANIES IN NORTH
AMERICA on Deloitte’s 2018 Technology Fast 500™, for the third year
in a row.
FOR FURTHER INFORMATION PLEASE CONTACT: Renmark Financial
Communications Inc. Steve Hosein: shosein@renmarkfinancial.com Tel:
(416) 644-2020 or (212) 812-7680 www.renmarkfinancial.com
Snipp Interactive Jaisun Garcha investors@snipp.com
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