OOOOO Reports User Growth in Brazil, Adds New Payment Features
VANCOUVER, British Columbia, Nov. 18, 2021 (GLOBE NEWSWIRE) — 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 Officer
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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.