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Overview of Snipp Interactive Inc.
Snipp Interactive Inc. (SNIPF) is a global Platform-as-a-Service (PaaS) company specializing in digital marketing promotions, loyalty programs, receipt-based purchase validation, and data analytics. Operating under a unified marketing technology platform, Snipp offers an integrated ecosystem designed to help brands engage consumers and drive measurable sales. Through its comprehensive suite of solutions, Snipp combines shopper marketing promotions, loyalty, rewards, rebates, and advanced analytics to generate unique insights and deliver disruptive engagement experiences.
Integrated Platform and Core Modules
The heart of Snipp’s offering is its proprietary SnippCARE platform, which provides clients with flexibility to design and execute both long-term and short-term programs. Key modules include:
- SnippCHECK: A market-leading receipt processing engine that validates purchases and underpins receipt-based promotions with robust data capture and analytics.
- SnippLOYALTY: A unified loyalty solution that enables consumer packaged goods (CPG) brands to deploy customized loyalty programs tailored to drive customer retention.
- SnippREWARDS: Offering a dynamic catalogue of digital and physical incentives, this module provides seamless access to rewards worldwide.
- SnippWIN: A gaming module addressing the challenges of running legally compliant games of chance and skill, pivotal for consumer engagement in regulated environments.
Advanced Technologies and Innovation
Snipp leverages cutting-edge technologies such as artificial intelligence, machine learning, and real-time data analytics to enhance operational efficiency and improve fraud detection in promotions. The platform’s advanced algorithms support the detection and prevention of fraudulent activities in receipt-based and loyalty programs, setting a high standard in data integrity and consumer trust. This strategic integration of AI aids in predicting trends and optimizing customer engagement, making Snipp’s solutions highly adaptive in a fast-changing digital landscape.
Market Position and Global Reach
Positioned at the crossroads of technology and marketing, Snipp serves a global clientele that includes Fortune 1000 companies, leading agencies, and strategic partners. Headquartered in Vancouver with additional offices in key regions such as the United States, Canada, Europe, and India, the company successfully navigates diverse markets and complex regulatory landscapes. Its extensive experience in handling global loyalty schemes, robust promotional solutions, and data-driven insights underscores its strategic significance in today’s competitive marketing environment.
Business Model and Operational Excellence
Snipp’s business model centers on providing a flexible, scalable, and integrated technology platform that serves multiple industry sectors. Revenue is derived from subscription fees, licensing agreements, and service contracts that allow clients to customize their engagement programs. This model not only facilitates long-term client relationships but also fosters continuous innovation and refined targeting based on enriched consumer data. The company’s operational excellence is further demonstrated by its capacity to manage high-complexity projects for some of the world’s most influential brands.
Client Engagement and Data Analytics
With its robust platform, Snipp continually captures and analyzes zero party data – information willingly provided by consumers – to offer actionable insights that drive sales and optimize promotional strategies. The ability to generate consumer insights in real time enables clients to tailor marketing campaigns more precisely, achieve higher conversion rates, and build stronger customer relationships while ensuring compliance and security throughout the data lifecycle.
Industry Expertise and Thought Leadership
Snipp is recognized for its deep industry expertise and thought leadership in the loyalty and promotions space. The company’s continual innovation in shopper marketing, combined with its strategic use of advanced technology, positions it as a source of reliable insights within a dynamic market. By consistently demonstrating operational agility and a proactive approach to market challenges, Snipp stands as a trusted partner for global brands seeking to navigate the complexities of customer engagement in today’s digital era.
Conclusion
In summary, Snipp Interactive Inc. is a comprehensive marketing technology provider that marries innovative digital promotions with sophisticated data analytics and AI-driven solutions. Its integrated platform enables streamlined execution of multi-faceted loyalty programs and promotional campaigns on a global scale. With a proven record of aligning client objectives with tangible sales enhancements, Snipp maintains a balanced approach to operational excellence and strategic growth in the competitive landscape.
Snipp Interactive has announced the appointment of Adi Dhandhania, COO of Bally's Interactive, to its Board of Directors following Bally's $5 million investment. Dhandhania brings over a decade of experience in gaming and technology, focusing on corporate strategy and operations. Additionally, Tom Burgess transitions from Board member to President of SnippMEDIA, a new division aimed at enhancing client engagement through a disruptive payments media network. The company also granted 10 million stock options to its Board and five officers, subject to TSX Venture Exchange approval.
Gambit Rewards, Inc. has announced a partnership with Gamelancer, the largest Gen Z social gaming network, enhancing user engagement through a new loyalty program allowing gamers to earn rewards. Gambit's platform integrates unused loyalty points into digital tokens for sports betting and online gaming. With over 28 million followers across TikTok, Snapchat, and Instagram, Gamelancer will expand Gambit's outreach to a younger audience. This collaboration aims to create a gamified loyalty experience, transforming how users interact with rewards in gaming.
Gambit Rewards has partnered with Gamelancer, the largest Gen Z social gaming network, to integrate its free-to-play sports betting platform with Gamelancer's extensive audience of over 28 million followers. This collaboration allows users to convert Gamelancer points into Gambit Tokens for online gaming and betting. Gambit, a regulator-approved network, aims to unlock significant value from unused loyalty points, while Gamelancer enhances its rewards marketplace. This partnership is expected to enrich user engagement and expand both companies' reach in the gaming sector.
Snipp Interactive Inc. (TSXV:SPN)(OTC PINK:SNIPF) reported record Q1 2022 results, with revenue of $4.2 million, up 64% year-over-year, marking the highest Q1 revenue in its history. The gross margin stood at 56%, down from 68% in Q1 2021. EBITDA increased by 105% to $0.3 million, and the company achieved a net income of $25,147, recovering from a net loss of $181,647 in the previous year. The bookings backlog rose 44% to $10.8 million, and cash reserves reached $1,899,110.
Snipp Interactive Inc. (SNIPF) reported substantial financial results for Q4 2021 and Fiscal 2021. Q4 revenue surged by 96% to $4.3 million, with EBITDA increasing by 350% to $0.7 million. Fiscal 2021 revenue totaled $15.3 million, up 76%, while net income reached $2.1 million compared to a net loss of $1.3 million in 2020. Gross margins slightly decreased from 75% to 63% in Q4 and from 72% to 57% for the fiscal year. The company’s bookings backlog stood at $10.9 million, a 63% increase. Dr. Niamh O Riordan was promoted to COO, highlighting the company’s commitment to growth and operational excellence.
Snipp Interactive Inc. has successfully closed a non-brokered private placement with Bally's Corporation, issuing 25 million shares at US$0.20 each, raising gross proceeds of US$5 million. The funds will support sales, marketing, and general working capital. Additionally, Snipp and Bally's entered into two commercial agreements. The securities will have a hold period until August 15, 2022. This strategic partnership aims to enhance Snipp's offerings in digital marketing and loyalty solutions.
Snipp Interactive Inc. (TSX-V: SPN; OTCPK: SNIPF) has announced a $5 million investment from Bally's Corporation (NYSE: BALY), which will entitle Bally's to nominate a director to Snipp's board and grant them a right of first refusal on asset sales. This investment will result in Bally's owning approximately 9% of Snipp's shares. The two companies will also enter into commercial agreements, making Bally's the exclusive gaming partner for Snipp's loyalty gaming platform, Gambit. Deployment of SnippLOYALTY software across Bally's properties is set to begin in Q2 2022.
Snipp Interactive Inc. (TSXV:SPN)(OTC PINK:SNIPF) reported a historic first quarter in 2022, achieving total sales bookings exceeding USD $4.5 million. Notably, over 40% of these bookings originated from new markets beyond traditional Consumer Packaged Goods (CPG) clients. The company's bookings backlog rose over 30% year-over-year to more than USD $10 million. Snipp anticipates significant revenue growth compared to the prior year and expects to maintain positive EBITDA. CEO Atul Sabharwal highlighted the impact of new customer wins and the company's strategy in expanding into various industries.
Snipp Interactive Inc. (OTC PINK: SNIPF) announces that its Gambit Rewards division has been shortlisted for the 2022 International Loyalty Awards in the category of Best Loyalty Industry Innovation. This recognition reflects Gambit's innovative approach to gamifying loyalty programs by allowing users to convert loyalty points into Gambit Play Tokens for online gaming and sports betting without real money risk. Launched in 2019, Gambit has positioned itself to access the estimated US$100B of unused loyalty points in America, enhancing engagement in the growing online gaming sector.
Snipp Interactive (OTC PINK: SNIPF) has completed its acquisition of Gambit Digital Promotions for US$5 million, integrating loyalty programs with online gaming and sports betting. Gambit’s platform allows users to convert loyalty points into free-to-play tokens, tapping into a US$60B+ online gaming market. This acquisition is expected to create new revenue opportunities through Snipp's SnippCARE platform. Gambit has also seen increased interest in partnerships since joining Snipp, indicating strong market potential in iGaming and sports betting.
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