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Spindle Reports Significant Increase in Mobile Commerce Consumer and Merchant Activity
Mobile Commerce Provider Sees Rapid Increase in Software Downloads; 25 Percent Increase in Merchant Acceptance Outlets
|By Marketwired .
|June 30, 2014 09:05 AM EDT
SCOTTSDALE, AZ -- (Marketwired) -- 06/30/14 -- Spindle, Inc. (OTCQB: SPDL), a leading provider of mobile commerce solutions, reported that it is experiencing considerable growth in both the consumer- and merchant-facing aspects of its mobile commerce services. According to the company, the rate of new downloads of Spindle's Yowza!! mobile couponing application increased 81 percent in the second quarter, compared to first quarter when the company began investing resources in the Yowza!! line after the close of its acquisition on January 3, 2014. Spindle also noted that the Yowza!! app now presents in-store offers at some 120,000 merchant outlets around the country, representing an approximate 25 percent increase since the acquisition. Among the nationwide retailers working with Spindle include Big 5 Sporting Goods, Guitar Center, and the Intercontinental Hotel Group, which includes popular brands like Holiday Inn, Intercontinental and Crowne Plaza properties.
Yowza!! is a comprehensive, location-based mobile marketing platform that allows merchants to deliver coupons and offers directly to the consumer's mobile device.
"We are pleased with the growth of the Yowza!! platform on both the consumer and merchant sides of our business, particularly in this short span," said Bill Clark, chief executive officer at Spindle. "We believe these figures validate the growing appeal of mobile commerce, and demonstrate the viability of our approach in providing a value-added solution that serves the distinctive needs of merchants and consumers. We expect to see continued favorable results for Yowza!!, particularly as we look to roll out a number of new services -- such as in-store location-triggered offers that leverages our beaconing system, and integrated marketing and payment services through Yowza!! branded cloud-based point-of-sale technology."
According to Clark, Spindle is also completing a rebranding process aimed at further accelerating growth.
"When we acquired the Yowza!! property, we recognized that this brand already had a solid consumer base in the market. We made the decision to leverage this identity, and have now completed the first of several planned customer-facing initiatives, beginning with a refreshed Yowza!! logo and color scheme for the mobile apps and GetYowza.com portal. When combined with our traditional and viral marketing programs, we expect to see accelerated acquisition of both merchants and consumers to our platform. We also believe Spindle has reached the point where we should see our investment in our payments and Yowza!! platforms begin to generate a return on investment in the form of revenue growth, commencing in quarters three and four."
"Spindle continues to show tremendous strength in a rapidly evolving sector," explained Vikrant Gandhi, senior analyst with the market research firm Frost & Sullivan. "The fact that they added a significant number of consumers and merchants to the Yowza!! platform indicates that the company's strategy is sound and viable. As businesses become more aware of mobile commerce, Spindle will be in a strong position to convert this interest into revenue."
Spindle is an innovator of mobile commerce solutions for financial services providers and consumer-facing merchants of all sizes. Spindle is focused on pioneering new ways for businesses to rapidly integrate mobile payments acceptance and mobile marketing services while empowering location-based merchant discovery, fulfillment and frictionless mobile payments for consumers. Spindle is dedicated to expanding beyond traditional electronic payment boundaries by offering cutting-edge solutions that allow clients, partners, merchants and consumers to take full advantage of the rapidly emerging mobile economy. Spindle has an extensive proprietary intellectual property portfolio -- which include patents pending -- that encompass networks, mobile payments, and security. For more information, visit www.spindle.com.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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