SOURCE: Keek Inc.

December 21, 2016 06:00 ET

Keek Inc. Provides Product Updates and Announces Expansion of Payment Processing Services

TORONTO, ON--(Marketwired - December 21, 2016) - Keek Inc. (TSX VENTURE: KEK) (OTCQB: KEEKF) today provided updates on the launch of its Peeks Livestreaming Gamer Service ("PLGS") and upcoming user interface ("UI") improvements, and announced the expansion of its domestic and international payment processing services. PLGS is available to approved streamers as of today. PLGS is a service that allows Peeks users to livestream video games as they are playing them, with an onscreen insert of themselves, to viewers on Peeks. Peeks is able to monetize this service by allowing streamers to accept tips from viewers, charge subscription fees, and, following the upcoming launch of the OfferBox, by selling goods and services directly to viewers. The livestreaming video gaming market is a large fast growing industry segment. Competitors in the space include Twitch, Hitbox, and YouTube Gaming.

The Company is also pleased to announce the expansion of the payment processing capabilities of the Peeks service. Peeks users will soon be able to process transactions via a wide variety of credit card free payment options including: online debit; online chequing; digital currency; carrier billing; and a variety of country specific payment options. Many of the payment services being integrated are patented by Keek Inc. CEO Mark Itwaru. According to Fortune Magazine, credit card penetration in the US is only 55% of adults ages 30-49, and falls precipitously to 33% for millennials. Similarly, credit card penetration for adults outside of North America, Australia, and parts of Western Europe, is significantly lower than that of adults inside these regions.

"Our PLGS will set a new standard for the monetization of live gaming in the industry today. Credit card usage for both domestic millennials and international customers is extremely low. By adding robust credit card free payment options both domestically and internationally our service will be able to drive annual revenues per user that are currently out of the reach of our competitors. Furthermore, our robust suite of payment processing options will provide us benefits across the board by allowing a significantly larger number of people to spend money whether it pertains to increased tipping, buying of goods and services, and/or subscribing to channels," said Mark Itwaru, CEO of Keek Inc.

The Company also announced that, as detailed in its press release dated November 14, 2016, the first stage of the new UI for the Peeks service on both the Android and iOS platforms is expected to be released by early January 2017, with possible releases prior to the New Year. These releases will include improvements focused on the broadcasting of recently acquired licensed content amongst other UI improvements. Keek Inc. recently acquired broadcasting and monetization rights to over 500,000 short form videos and over 1,000 daily videos including content from media industry leaders such as National Geographic, Reuters, CBC, Road & Track, HollyScoop, CelebWire, Seventeen, Esquire, MakerStudios, and others. The UI upgrades will make this content available to the Peeks audiences.

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.

Forward-looking statements:
The information and statements in this news release contain certain forward-looking information relating to the implementation, timing, and roll out of updates for the Peeks platform, including related products, services, functionalities, and revenue generating capabilities. 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. Keek's forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, Keek undertakes no obligation to publicly update or revise any forward-looking information.

Contact Information

  • For further information, please contact:
    Keek Inc.
    Mark Itwaru
    Chairman & Chief Executive Officer
    647-992-7727
    mark@keek.com