Snipp Interactive Inc. Executes Second Set Of Orders With Top 5 US Technology Company In The Fortune 50; 15 Country Deployment Contracted For 2022
Snipp Interactive Inc. (TSX-V:SPN; OTC PINK:SNIPF) has secured a significant second order from a major American technology client. This contract, which is notably larger in monetary value, involves programs across 15 countries throughout the European Union and Latin America, facilitated by Snipp's recent vendor approval. The second order will leverage various components of Snipp's SnippCARE platform, enhancing customer engagement strategies. The company anticipates robust growth in Q4, with expectations for return to historical margin levels.
- Secured a second, larger contract with a major technology client, indicating strong demand.
- Expanded operations to 15 countries, showcasing global reach.
- Recent vendor approval streamlined processes, allowing quicker contract execution.
- Expectations for significant top-line growth and margin recovery in Q4.
- None.
VANCOUVER, BC / ACCESSWIRE / December 16, 2021 / Snipp Interactive Inc. ("Snipp" or the "Company") (TSX-V:SPN; OTC PINK:SNIPF), a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector, is pleased to announce that it has received a second set of orders from one of its newest clients, an American multinational technology corporation (the "Client"). The Client produces computer software, consumer electronics, personal computers, and related services. Its best-known software products are a line of computer operating systems, business productivity software and internet browsers. It also produces a range of category defining hardware products.
Snipp was only recently approved as a global supplier to this Client - please refer to the press release from last week announcing the approval of the Company and the receipt of its first order for a North American program launching in January. The business unit within the Client decided to expedite the award of the second and significantly larger six figure contract for programs across 15-countries in the coming year across the European Union and Latin America citing the newly acquired vendor status that the Company received that enabled it to quickly get internal approvals as all the necessary vetting processes on the platform had been completed. The international roll out in 2022 incorporates various elements of the Company's SnippCARE (Customer Acquisition, Retention & Engagement) Platform such as SnippCHECK, the Platforms' Receipt Processing Module and SnippWIN, the Platforms gaming module.
Discussions are now also being scheduled with other product groups within this business unit in the Client. In parallel the team will be exploring discussions with other business units that have similar needs and have in the past had discussions with the Company but not been able to contract with Snipp due to the lack of a formal vendor approval.
"Executing a second and larger contract in this short of a period is a clear indication of the value that this Client sees in the Company's proprietary SnippCARE (Customer Acquisition Retention and Engagement) Platform and their confidence in our deployment capabilities. We are being recognized by global leading companies who are increasingly turning to us to solve for critical customer acquisition and retention strategies in this age of increasing privacy and security." said Atul Sabharwal, "As we come to an end of this year and our fourth quarter, we are excited to share with our investors in the coming weeks our continued rapid growth, and future plans. We fully expect the fourth quarter to be another stellar quarter not only with significant top line growth when compared to last year but also with margins returning to our historical ranges."
About Snipp:
Snipp Interactive Inc (TSX-V:SPN; OTCPK:SNIPF) is a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector. Snipp's proprietary and modular SnippCARE (Customer Acquisition, Retention & Engagement) Platform allows its marquee list of Fortune 1000 Clients and world-class agencies and partners to use various modules of the Platform to run long-term and short-term programs and promotions, while continually generating and capturing unique zero party data that is invaluable in providing insights to drive sales. SnippCHECK, the Platform's Receipt Processing Module has established itself as the clear industry leader and standard by powering a large majority of all receipt based promotions in North America. SnippLOYALTY, the Platform's full scale modular loyalty engine allows clients the flexibility of deploying any/all aspects of a standard loyalty program on a case by case basis. SnippREWARDS, the Platform's modular catalogue of digital and physical rewards provides Clients with global and easily deployable access to an extensive catalogue of digital and physical rewards. SnippWIN, the Platform's gaming module solves for the implementation and compliance difficulties of offering games of chance and skill on a global basis, and allows for the global deployment and administration of legally compliant games of chance and skill. For more information, visit the Company's website at www.snipp.com
Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. The company is publicly listed on the Toronto Stock Venture Exchange (TSX-V) in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.
FOR FURTHER INFORMATION PLEASE CONTACT:
Snipp Interactive Inc.
Jaisun Garcha
Chief Financial Officer
investors@snipp.com
1-888-99-SNIPP
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.
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SOURCE: Snipp Interactive Inc.
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