Top 5 Most Valuable Food Brand Company in The Fortune 250 Signs 3rd Six Figure Contract With Snipp This Year

Rhea-AI Summary

Snipp Interactive Inc. has announced a renewal of its US license for the SnippINSIGHTS module from its SnippCARE platform with a major global food producer. This marks the third contract of 2021 for Snipp with this client and highlights a long-standing relationship dating back to 2015. The renewal extends services through 2022, building on previous contracts, including a USD $1.98 million agreement announced earlier this year. Snipp's focus on generating unique consumer data continues to drive its strong client relationships.

Positive

• Renewal of US license for SnippINSIGHTS module enhances client relationship.
• Third contract signed in 2021 with a leading food producer, indicating strong business ties.
• Previous contract worth USD $1.98 million over three years showcases significant revenue.
• Long-term client engagement since 2015, expanding Snipp's service offerings.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / December 14, 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 one of the world's leading producer of cereal and convenience foods, including cookies, crackers, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles, and veggie foods has renewed its US license for the SnippINSIGHTS module of the Company's SnippCARE (Customer Acquisition Retention and Engagement) Platform. The Client's products are manufactured in 18 countries and are marketed in more than 180 countries.

This renewal represents the 3^rd contract executed in 2021 for use of various components of the Company's SnippCARE Platform for subsequent license periods in the North American region. The Client has contracted with Snipp over a dozen times since first becoming a client of the Company in 2015 as it has slowly and steadily expanded its use and deployments of various components of the SnippCARE Platform across North America. Earlier this year Snipp had announced its single largest ever contract with this Client for the US market worth USD $1.98MM across three years - please refer to press release dated February 4, 2021. Subsequently in November, Snipp announced a new deal with the Canadian entity of this Client for the 2022 calendar year - please refer to press release dated Nov 22, 2021. Today's renewal covers the SnippINSIGHTS module of the Company's SnippCARE Platform that was first piloted with this Client in the US market in 2020, was extended into 2021 and has now been further extended through 2022. SnippINSIGHTS brings an advanced level of basket and behavioral analysis captured from first party shopping data generated by SnippCHECK, the industries market leading receipt processing engine that the Client has been deploying since 2015.

"We are grateful to have built such a trusting and deep relationship with this client over the years. We look forward to further penetrating this account globally as additional markets realize the power of the zero and first party consumer data we are generating for the North American market today. In fact, this client is one of eleven clients of ours since 2018 that has spent seven figures or more buying various Snipp data solutions" said Atul Sabharwal, Founder of Snipp.

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.comwww.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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright Snipp Interactive Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.

SOURCE: Snipp Interactive Inc.

View source version on accesswire.com:
https://www.accesswire.com/677500/Top-5-Most-Valuable-Food-Brand-Company-in-The-Fortune-250-Signs-3rd-Six-Figure-Contract-With-Snipp-This-Year

FAQ

What did Snipp Interactive announce on December 14, 2021?

Snipp announced the renewal of its US license for the SnippINSIGHTS module with a major global food producer.

How many contracts has Snipp signed with this client in 2021?

Snipp has signed three contracts with this client in 2021.

What is the value of Snipp's largest contract with this client?

The largest contract is valued at USD $1.98 million over three years.

When did Snipp first begin working with this major client?

Snipp first began working with this client in 2015.

What platform does Snipp INSIGHTS belong to?

Snipp INSIGHTS is part of the SnippCARE platform.

How does Snipp Interactive generate consumer data?

Snipp generates consumer data through its SnippCHECK receipt processing engine.