SOURCE: Keek Inc.

Keek Inc.

September 22, 2016 08:00 ET

Keek Provides Updates on Transition to Peeks Product and Corporate Matters

TORONTO, ON--(Marketwired - September 22, 2016) - Keek (TSX VENTURE: KEK) (OTCQB: KEEKF) today provided updates on the transition towards offering the Peeks livestreaming service to the existing Keek user base. The Peeks livestreaming beta service has been available to the general public on both iOS and Android platforms since August, being downloaded by thousands of users in over 100 countries to date. This has provided Keek an opportunity to monitor the stability of the apps as well as the metrics and performance of the built in e-commerce engine prior to the transition of the existing Keek user base to the service.

"The service has performed remarkably well and succeeded in monetizing users from day one. These early results have provided confidence that the Peeks livestreaming service is ready to handle the significant Keek audience. It's time to open the flood gates and bring the Peeks livestreaming service to 75 million current and former Keek users," said Mark Itwaru, CEO of Keek.

Keek has been pursuing a viable robust e-commerce monetization solution for its existing and planned future social media products for over a year. The Peeks service, through its e-commerce engine, has been able to successfully process over 16,000 transactions in a live environment in its first month, including significant amounts of inter-user transactions, credit card purchases, and withdrawals directly to broadcasters' bank accounts. The service will also soon allow users to buy products in real time by tapping their screens inside a livestreaming broadcast.

Based on the metrics of the Peeks service to date, Keek also announced it is immediately beginning to market the new service to its 75 million registered users, and is advancing the consolidation of the Keek legacy apps and the Peeks service, which is expected to be completed in phases over the next several months.

Keek also announced that it has issued 40,000 common shares at a deemed price of $0.30 relating to the settlement of an employment claim.

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 the Peeks platform, including related products, services, functionalities, and third party involvements. 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