SOURCE: Spiral Toys

Spiral Toys

July 31, 2015 14:00 ET

Spiral Toys Introduces CloudPets Mobile App 2.0 With New Freemium Functionality

New Version of CloudPets App for iOS and Android Allows In-App Purchases of Games, Music and Other Premium Content

LOS ANGELES, CA--(Marketwired - Jul 31, 2015) - Spiral Toys (OTCQB: STOY), a leading provider of mobile-connected, wireless entertainment technology, has updated its CloudPets mobile app to version 2.0, as the CloudPets interactive plush toy, which interacts with the app, begins to sell at retail stores nationwide.

The voice and electronics of the CloudPets plush toy is powered by Spiral's proprietary technology that wirelessly connects the toy to the interactive CloudPet mobile app, allowing parents, grandparents and friends to verbally communicate and interact with the child CloudPet owner via the app.

In addition to enhanced functionality throughout the app, CloudPets 2.0 gives mobile device users the new ability to make in-app purchases of interactive games, children's music (including lullabies), and other future premium content. Audio content, like lullabies, can play through the voice box of the plush toy as the child drifts off to sleep.

"This update to our mobile app represents another major milestone for CloudPets, following our recent retail rollout," said Spiral CEO, Mark Meyers. "Adding the ability to make in-app purchases allows us to deliver a more fun, engaging, and overall more valuable user experience for children and parents alike, while keeping basic CloudPet functionality easily accessible to all."

Unlike other mobile app publishers, Spiral Toys generates revenue from the sale of physical products that incorporates its proprietary communications technology. Adopting the new 'freemium' model for the CloudPet mobile app introduces a whole new revenue stream.

"Our unique business model solves two major problems in the digital content space," noted Meyers, "We don't depend 100% on mobile app revenue and we don't need to spend extraordinary amounts in marketing dollars to attract new mobile app users. Our retail distribution partners finance the manufacturing of the physical product, which leads to new mobile app users with every sale."

The updated CloudPet app is available for download at the Apple App Store and Google Play.

About Spiral Toys
Spiral Toys (OTCQB: STOY) is a California-based company with a business, founded by a former senior executive of Disney and Sony, focused on developing and marketing products and mobile applications in the mobile-connected space. Spiral's mobile-connected entertainment platform connects physical items to today's top mobile devices through wireless technologies, creating a new kind of interactive user experience.

Spiral sells its products worldwide, and is developing additional applications based on its platform technology for several different verticals within the entertainment industry. Spiral collects revenue on both the physical purchase of goods and the sale of digital content through Apple's App Store and the Google Marketplace. The company also acts as co-developer with major entertainment studios. For more information, visit www.spiraltoys.com.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws, including statements relating to expectations for the performance of Spiral Toys. The terms "expects", "would", "will", "believes", and similar terms are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by Spiral Toys in light of its experience and its perception of current conditions and expected future developments, as well as other factors that Spiral Toys believes are appropriate in the circumstances. Many factors could cause Spiral Toys' actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. These risk factors and others relating to Spiral Toys that may cause actual results to differ are set forth in Spiral Toys' periodic filings with the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on Spiral Toys' forward-looking statements. Spiral Toys has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact Information