SOURCE: Peeks Social Ltd

Peeks Social Ltd

March 14, 2017 03:00 ET

Peeks Crowdfunding Service Generates Over 400 Campaigns in First Week

TORONTO, ON--(Marketwired - March 14, 2017) - Peeks Social Ltd. (TSX VENTURE: PEEK) (OTCQB: KEEKF) is pleased to announce that further to its press release dated February 23, 2017, the Peeks Crowdfunding Service ("PCF") has been officially launched inside the Peeks app. The new PCF has generated more than 400 campaigns in its first week, in which users are collectively attempting to raise approximately $750,000 for a variety of initiatives. A typical user generated campaign has a duration of approximately two weeks. The Peeks app charges a platform fee to broadcasters ranging from 15% to 25% of contributions received in relation to their PCF campaigns. There is no guarantee that a user's campaign will be successful, however broadcasters receive all contributions from their viewers, even if they do not reach their stated funding goal.

PCF allows users to raise funds from their viewers for a wide variety of causes, including but not limited to: funding school tuition, supporting career goals, and sponsoring athletic training. Both live viewers and viewers watching an archived video can participate and help their favorite broadcaster reach their goal. Upcoming features will allow broadcasters to offer gifts to their contributing audiences, such as copies of their e-book or early access to a new game they are developing, as appreciation for the support they receive.

The Company earns licensing revenue based on the gross revenue earned by the Peeks app (see press release dated October 19, 2016). The Peeks 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.

Contact Information

  • For further information, please contact:

    Peeks Social Ltd.

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