OOOOO Reports User Growth in Brazil, Adds New Payment Features
19 November 2021 - 12:00AM
OOOOO Entertainment Commerce Limited (“OOOOO” or the “Company”)
(OOOO:TSXV), a mobile commerce platform, is pleased to announce
that upon reaching certain milestones in Brazil, the Company will
be launching new social commerce features in the local version of
the app, positioning the partnership with the Americanas S.A(“B2W”)
as an industry leader.
Launched in Brazil in July of 2021 through an
exclusive agreement with B2W, the local version of the app has now
surpassed 150,000 downloads by Brazilian users across Android and
iOS platforms.
With live commerce as the main attraction, the
OOOOO Brazil app has a fixed schedule of daily shows covering
different themes, from cooking recipes to book reviews by experts
in their respective fields.
During this period, the OOOOO Brazil app has
released important features tailored to the local market:
- AME Pay: prime payment method from the AME Digital app, an
e-wallet from B2W;
- Boleto Bancario: A major payment method, mainly for unbanked
and new e-shoppers, to help accelerate adoption by a significantly
wider audience in Brazil;
- In app games, attract users to visit the app often, for fun and
to accumulate loyalty rewards for their frequent visits and in-app
purchases. The two initial games are already successful in other
markets.
Sam Jones, OOOOO’s Co-Founder and Chief
Executive Officer commented, “OOOOO is thrilled to see our
exclusive partnership with B2W in Brazil growing in terms of
audience appeal, customer focused features and strong engagement
relative to other ecommerce offerings. B2W has been an ideal
partner for us because they have existing capabilities and OOOOO is
able to bring innovative technology to our partners in a fast,
efficient way, as evidenced in Brazil.”
Mr. Jones continued, “OOOOO works with some of
the world’s top brands and continues to seek and partner with
world-leading ecommerce companies to innovate their offering. We
seek those who are best-in-class in logistics and product
assortment, where OOOOO can quickly add a new and engaging customer
acquisition and retention channel. We especially like large markets
like Brazil, where online shopping is widely enjoyed and demanded
by customers who deserve excellent value for money. We are
incredibly pleased for this strong, capital-efficient growth for
OOOOO and are excited for what is to come for customers and our
partners in Brazil and beyond”.
Additionally, the Company has retained Harbor
Access LLC (“Harbor”) to assist OOOOO with investor relations
activities in Canada and the United States of America. Pursuant to
an agreement entered into with Harbor with an effective date of
October 1, 2021, Harbor will receive a cash fee of $11,000 per
month for a twelve-month period. In addition to 20,000 restricted
shares. Harbor has a team with a combined 100 years of collective
experience in capital markets, who have operated through all the
markets’ various cycles. Harbor is one of the industry's leading
investor relations firms, offering best practices for both investor
relations and investor access. Harbor has offices in Stamford,
Connecticut and Toronto, Ontario and works with many listed
companies in North America and Europe.
“We are very excited to be working with OOOOO as
the Company is at the forefront of a seismic shift in the retail
landscape and how people shop and interact with brands. The
multi-billion-dollar social commerce industry is coming the West
and OOOOO is positioned as a first mover in the category.” Stated
Graham Farrell, Managing Partner of Harbor Access LLC.
About OOOOO Entertainment
Commerce
OOOOO Entertainment Commerce operates a
technology platform that enables retailers, brands and
entrepreneurs to share product-based opinions directly to consumers
through live, interactive, shoppable videos. The platform also
offers gamification and social features which reward the community
for helping to grow the user base, reducing the need for
traditional ad networks.
The Company was founded in 2020 by Sam Jones and
Eric Zhang and has offices in Oxford and Shanghai.
For further information please contact:
OOOOO Entertainment Commerce Limited
Sam Jones, Chief Executive
Officersam@ooooo.com
Investor
Relationsinvestors@ooooo.com416.842.9003
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Forward Looking Information
Certain statements in this news release may
constitute “forward-looking statements”. Forward-looking statements
are statements that address or discuss activities, events or
developments that OOOOO expects or anticipates may occur in the
future. When used in this news release, words such as “estimates”,
“expects”, “plans”, “anticipates”, “projects”, “will”, “believes”,
“intends” “should”, “could”, “may” and other similar terminology
are intended to identify such forward-looking statements.
Forward-looking statements reflect the current expectations and
beliefs of OOOOO’s management. Because forward-looking statements
involve known and unknown risks, uncertainties and other factors,
actual results, performance or achievements of OOOOO or the
industry may be materially different from those implied by such
forward-looking statements. Examples of such forward-looking
information that may be contained in this news release include
statements regarding: growth and future prospects of our business;
our perceptions of the industry and markets in which we operate and
anticipated trends in such markets; expectations regarding the
operation of our app; and our future revenues. Material factors or
assumptions that were applied in drawing a conclusion or making an
estimate set out in the forward-looking statements may include, but
are not limited to, our ability to execute on our business plan,
increase visibility amongst consumers and convert users to revenue
producing subscribers and the success of the business of our
partners. Forward-looking statements involve significant
uncertainties, should not be read as a guarantee of future
performance or results, and will not necessarily be an accurate
indication of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements,
including, without limitation: those relating to potential
disruptions to product delivery; failure to meet regulatory
requirements; changes in the market; potential downturns in
economic conditions; availability of financing (as necessary);; and
other risk factors described in our Filing Statement which is
available on SEDAR at www.sedar.com. These risks, as well as
others, could cause actual results and events to vary
significantly. Accordingly, readers should exercise caution in
relying upon forward-looking statements and OOOOO undertakes no
obligation to publicly revise them to reflect subsequent events or
circumstances, except as required by law.
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