WASHINGTON, DC – Snipp Interactive Inc. (“Snipp” or the “Company”) (OTCQX: SNIPF; TSX Venture: SPN), a global provider of digital marketing promotions, rebates and loyalty solutions, today announced that it has signed a six-figure multi-year contract (the “Contract”) with one of the top 3 American music entertainment companies (the “Customer”) to extend and make significant upgrades to a previously customized and deployed SAAS based platform that runs promotions for the Customer. Snipp initially had inherited this platform via its acquisition of Hip Digital in 2015. In addition to licensing the platform and providing ongoing support services, Snipp also provides Brands that work with Snipp, access to Customer’s extensive catalogue of content. The execution of this Contract is intended to further deepen and enhance this relationship.
As part of the Contract, the Company also entered into a 12-month extension of its music licenses from the Customer. Consequently, the Customers’ extensive music repertoire will continue to be available on the SnippRewards platform as incentives for brands to offer to their consumers.
Atul Sabharwal, CEO of Snipp, said, “We are very pleased to expand our relationship with this Customer whose extensive music collection is extremely appealing to brands looking for highly relevant and instantly gratifying digital rewards. This deal enables us to continue to offer brands a wide selection of rewards and turnkey solutions from Snipp. In addition, this enhanced relationship demonstrates that our platforms can be customized and deployed in new and unique ways to serve large enterprise clients who want to have a higher degree of control on their marketing initiatives and opens up a whole new market for Snipp to deploy its expertise and solutions.”
The Company would also like to provide an update on its previously announced non-brokered private placement (the “Financing”) as per previous press releases dated May 5, 2017 and May 19, 2017. The Company is finalizing its second tranche (the “Second Tranche”) of the Financing and is expecting to close it shortly.
Visit the Snipp website at http://www.snipp.com/ for Snipp’s full suite of solutions and examples of Snipp programs.
Snipp is a global loyalty and promotions company with a singular focus: to develop disruptive engagement platforms that generate insights and drive sales. Our solutions include shopper marketing promotions, loyalty, rewards, rebates and data analytics, all of which are seamlessly integrated to provide a one-stop marketing technology platform. We also provide the services and expertise to design, execute and promote client programs. SnippCheck, our receipt processing engine, is the market leader for receipt-based purchase validation; SnippLoyalty is the only unified loyalty solution in the market for CPG brands. Snipp has powered hundreds of programs for Fortune 1000 brands and world-class agencies and partners.
Snipp is headquartered in Washington, DC with offices across the United States, Canada, UK, Ireland, Europe and India. The company is publicly listed on the OTCQX, the highest tier of the OTC market in the United States of America, and on the Toronto Stock Venture Exchange (TSX) in Canada. Snipp was selected to the TSX Venture 50®, an annual ranking of the strongest performing companies on the TSX Venture Exchange, in 2015 and 2016. SNIPP IS RANKED
#49 AMONGST THE FASTEST GROWING COMPANIES IN NORTH AMERICA ON DELOITTE’S 2016 TECHNOLOGY FAST 500™ LIST.
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