Nokia to Preload timesPoynt on Smartphones Sold in India
CALGARY, ALBERTA--(Marketwire - Dec. 15, 2011) - Poynt Corporation (TSX VENTURE:PYN) ("Poynt Corp." or the "Company") today announced an agreement with Nokia (NYSE: NOK) to preload its mobile platform, timesPoynt ("timesPoynt" or the "Platform"), a joint initiative of Poynt Corp. and Times Internet Limited ("TIL"), on all Nokia Lumia 710 and Nokia Lumia 800 smartphones (the "Nokia preload") in India. timesPoynt is immediately available on these smartphone devices beginning today.
timesPoynt, a free application powered by data from Timescity.com, provides users in India with the ability to move beyond discovery of their local area to locate restaurants, nightlife, events, movie theaters and weather information. Like the flagship Poynt mobile platform, timesPoynt features the ability to allow users to click-to-call businesses, get directions, browse listing websites, send details to a friend or add listings to their device calendar or address book.
The Nokia preload marks the Company's second distribution agreement with a handset manufacturer in India, both of which followed closely after the October 17, 2011 launch of timesPoynt. Earlier this month, the Company announced that the Poynt mobile platform was immediately available on all new and existing Samsung Android devices, a deal that positions Poynt on-device in all nine countries the Company operates in, including India. Distribution agreements with original equipment manufacturer's (OEM's) like Nokia, are key to national marketing campaigns in India.
To monetize timesPoynt, the partnership plans to leverage the Times Group's relationships in India with advertisers, agencies and merchants. It plans to market and promote timesPoynt through all its media vehicles such as radio, television, magazines and newsprint. OEM preloads are key to targeting the more than 858 million mobile subscribers in India as they allow users of specific devices, such as Nokia and Samsung, to discover the best apps for their device with the least time spent searching.
Poynt Corp and Nokia have an existing relationship that includes Poynt having been selected as the Grand Prize runner up in the Apps category of the Nokia Calling All Innovators 2011 contest which awarded Poynt Corp $1 Million (USD) in-kind advertising through Nokia Marketing campaigns in addition to a $150,000 (USD) cash prize. This preload highlights Nokia's commitment and interest in increasing the discoverability of top apps that enhance user's experience in global smartphone markets.
"Preloads of Poynt Corp.'s mobile platforms on leading OEM's such as Nokia have proven to drive dramatic increases in adoption and retention rates," said Andrew Osis, CEO, Poynt Corp. "As a result of this agreement, smartphone users in India will see timesPoynt when they utilize their devices, which will drive significant traffic and revenue through this mobile platform. The Company is currently pursuing additional preload opportunities with carriers and device manufacturers globally in order to maintain strong user growth and retention."
To date, Poynt, including timesPoynt, has been preloaded or distributed with eight mobile carriers and device manufacturers throughout the Company's operating geographies, five of those agreements occurred in 2011. These preloads include deals with major carriers such as Sprint subsidiaries Virgin USA and Boost Mobile USA, Cricket, Wind Mobile in Canada, Virgin Media and Vodafone in the United Kingdom, as well as globally with device manufacturer Samsung, and now Nokia in India.
The Company's recent announcement that it experienced a 50% increase in user activations for Poynt on Black Friday (November 25th 2011) reaffirm how instrumental preload and distribution agreements are to the Platform's continued growth and success. Based upon internal reporting metrics, the Company believes the increase can be attributed to new user activations on Samsung Android devices in the United States and provides support to the Company's belief that preloads directly influence user discoverability of the Platform.
"Through geographic expansion such as with timesPoynt in India and new preload agreements globally, we anticipate increased user acquisition and retention that will broaden revenue streams and solidify our position in the mobile application space," added Mr. Osis. "The continued increase in our user base is important to position Poynt as a global advertising distribution opportunity for advertisers who are interested in the Platform's ability to target consumers with relevant and contextual mobile commerce offerings like mobile couponing, on a global level."
"We have seen tremendous uptake and retention rates with each preload we have launched to date and we anticipate that the Indian market will be no different," said Marco Hunstad, SVP, Business Development & Global Distribution. "The Company is continuing to pursue additional preload opportunities with carriers and OEM's globally in order to continue strong user growth and retention."
As Poynt becomes available across more geographies and devices, the Company anticipates increased user acquisition and retention will broaden revenue streams, augmented by the monetization of our IP portfolio. The Company has recently commented on filing additional patents in the United States and is expecting to receive final approval on some of these pending applications in the near term.
About the Poynt Platform
Poynt is a convenient and timesaving GPS-enabled mobile local search and advertising platform that connects consumers to local offers, businesses, events, restaurants, movie theatres, gas prices and weather information at the moment they are looking to buy or acquire products or services. Poynt provides consumers with the ability to move beyond discovery of their local area to view movie trailers and reviews, buy movie tickets, click-to-call businesses, get directions, browse listing websites, read reviews and book dining reservations or find and interact with local coupons and offers.
Poynt provides contextual and relevant advertising to users performing local queries and its revenue model is based on user queries, page views, advertising and transactions within the platform. Each user query generates several page views, which are monetized through display advertising and sponsored listings paid for by advertisers. These advertising placements generate revenues on a cost per thousand impressions (CPM) basis or on a cost per click (CPC) basis. Transactions, such as ticket sales and restaurant reservations, also contribute to revenues on a fee for service basis.
Poynt is available as a free download for users in India, Canada, the United States, the United Kingdom, Germany, France, Italy, Spain and Australia on Android, iPhone, Windows Phone and Nokia devices, BlackBerry smartphones and BlackBerry Playbook tablets from the respective App Stores. Poynt is also available via Over the Air download at m.poynt.com.
About Poynt Corporation
Poynt Corp. (about.poynt.com) is a global leader in the mobile local advertising space. Its Location Based Search (LBS) and advertising platform, Poynt (www.poynt.com), enhances a user's ability to connect with the people, businesses and events most important to them. Poynt is available on Android, iPhone, Windows Phone and Nokia devices, along with BlackBerry smartphones and BlackBerry PlayBook Tablets in Canada, the United States, Europe, India and Australia. Poynt Corp. entered the mobile publishing space with the recent acquisition of an advertising publishing platform in January 2011. Key contracts on both the supply and demand sides are in place to provide inventory into the platform and publishers to display the inventory. Whether through the Poynt Local Search App or the Ad Publishing Platform, Poynt Corp. simplifies connecting consumers with businesses, retailers and events. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN.
Important Cautions Regarding Forward-looking Statements
This news release contains forward-looking statements relating to: anticipated user uptake, anticipated revenues associated with the preload distribution agreement, anticipated revenues associated with Poynt Corp.'s portfolio of patents, additional pre-load opportunities pursued and other statements that are not historical facts. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.
These forward-looking statements are based on certain key assumptions regarding, among other things: the risk that Poynt will not be virtually preloaded or made available as a preload on the anticipated number of devices; the expected increase in CPM rates; future technological developments; the cost of expanding product lines; the impact of increasing competition; the continuity of existing business relationships; the continued successful development, implementation and execution of the Poynt platform; continued growth in number of active users of the Poynt platform; conditions in general economic and financial markets; the ability to complete previously announced transactions; ability to obtain all necessary regulatory approvals; and our ability to obtain financing on acceptable terms. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products; the success of the Company's brand development efforts; risks associated with strategic alliances; failure of counterparties to perform on contracts; failure to successfully negotiate contracts; failure to successfully negotiate additional preload agreements; risk that the Platform may not be included in Q4 media buy budgets; reliance on distribution channels; product concentration; need to develop new and enhanced products; failure to obtain necessary regulatory approvals; potential product defects; our ability to hire and retain qualified employees and key management personnel; risks associated with changes in domestic and international market conditions and the entry into and development of new markets for the Company's products; and the risks described under "risk factors" in our Annual Information Form for the year ended December 31, 2010 which is available on our SEDAR profile (www.sedar.com).
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on expectations of, or statements made by, third parties in respect of the forward-looking statements identified above.
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