SOURCE: Spiral Toys, Inc.

Spiral Toys, Inc.

April 22, 2016 08:00 ET

Spiral Toys' New Connected Piggy Bank, Wiggy, Is Now Available on Indiegogo

Marking the First Phase of Wiggy's Go-To-Market Strategy, Crowdfunded Campaign Is Well on Track to Exceed Initial Fundraising Goal

LOS ANGELES, CA--(Marketwired - Apr 22, 2016) - Spiral Toys, Inc. (OTCQB: STOY), a leading provider of mobile-connected, wireless entertainment technology, has launched its new connected piggy bank product, Wiggy™, on the crowdfunding platform Indiegogo. Wiggy introduces the concept of learning to earn and save money at an early age by combining a toy piggy bank with an interactive mobile app and a linked bank account.

The Indiegogo campaign went live on Wednesday, April 20 and, based on the volume from the first two days of accepting orders, Wiggy's campaign is well on track to exceed the pre-sale funding goal, having received well over 10% of their goal. Spiral expects to begin production of pre-sale Wiggy orders next month.

"Wiggy's launch is off to an strong start having established meaningful brand awareness with over 30,000 unique visitors to our Indiegogo page in only two days," commented Mark Meyers, CEO of Spiral Toys. "We are seeing significant interest in our product and are pleased with the early success of our new strategy. We believe Wiggy will positively impact our future results as we expect it to move into mass retail for the holiday season later this year."

To create Wiggy's marketing and advertising content, Spiral teamed with Feedback LLC, a leading video production agency known for producing some of the most memorable and best performing commercials in the industry. The video is currently live on Wiggy's Indiegogo page and can be seen on YouTube at https://www.youtube.com/watch?v=JIAjfm8pgso.

Wiggy's Indiegogo campaign marks the first step of its go-to-market strategy. Once the initial crowdfunding campaign is complete, Spiral will shift its focus to a comprehensive direct response campaign where it will launch a full scale advertising and marketing campaign including the airing of the Wiggy commercial on national television.

Meyers continued, "The core focus of Spiral remains creating unique digital experiences around everyday items that leverage our proprietary connected platform. We are on track to bring Wiggy into a direct response campaign during May of 2016. We will be providing an update on our full media campaign strategy moving into Q2 in preparation for our retail launch later this year.

"Additionally, our recently expanded management team is working hard on multiple strategic initiatives including content licensing for Wiggy which can bring additional characters and titles onto our digital content platform."

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
All statements in this press release that are not based on historical fact are "forward-looking statements." 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

  • Company Contact:
    Akio Ariura, CFO
    Spiral Toys
    Tel (800) 598-6845
    Email Contact

    Investor Relations:
    Michael Koehler
    Liolios
    Tel (949) 574-3860
    Email Contact