SOURCE: Keek Inc.

Keek Inc.

November 07, 2016 06:00 ET

Peeks Service Experiences 4,000% User Growth Following Launch

TORONTO, ON--(Marketwired - November 07, 2016) - Keek (TSX VENTURE: KEK) (OTCQB: KEEKF) today provided an update on the initial launch of the Peeks service. The Peeks service was launched as a beta product in August 2016, and the full service was launched on November 1, 2016. Peeks is described as "an ecommerce enabled livestreaming platform." The Peeks service allows users to livestream themselves on their own personal interactive ecommerce enabled mobile broadcast.

In the first few days following the full launch of the service, new registrations on Peeks were already averaging over 6,000 per day, an increase of approximately 4,000% from the beta product. The growth is being driven by a number of factors, including most notably, legacy Keek mobile users updating to new Peeks accounts, a number of early celebrity influencer programs, and through organic growth. In contrast, the enormously successful legacy Keek apps, which now exceed 75 million registered users, took approximately one year to reach similar daily registration levels. The Peeks service users found in the Peeks apps and included in these metrics do not include the significant user base still using the 36-second pre-recorded social video Keek products. A legacy Keek user must actively use the new Peeks service to be listed in the new app.

"We are thrilled that the adoption of the Peeks service is occurring so rapidly. The early flow of users and content has met our expectations. In response, we will be introducing additional regionalization and categorization tools very soon, which we feel will not only improve the user experience but also increase content generation as creators will be able to better target their desired audiences," said Mark Itwaru, CEO of Keek. "In these first few days we've already enjoyed thousands of livestreams from all over the world, seen some of our celebrity influencers receive hundreds of thousands of 'likes,' and most importantly, rapidly scaled a livestreaming social commerce platform with no downtime or service interruptions to either the streaming platform or the ecommerce engines. It's been an amazing first week."

Keek also announced that it has issued 2,236,500 common shares pursuant to the exercising of 2,000,000 warrants with an exercise price of $0.25 and 236,500 warrants with an exercise price of $0.30, resulting in total gross proceeds of $570,950 being received by the Company.

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.

Forward looking statements:

The information and statements in this news release contain certain forward-looking information relating to the development and growth of the Peeks product as well as early user registration data which may be interpreted or applied as forward-looking information by a reader. While the initial uptake of the Peeks service has been strong, this data should not be relied upon to predict future performance nor does Keek guarantee that similar registration rates or growth trends will be maintained. In addition, the 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