Peeks Social to Launch Website, App Reaches New Record Quarterly Deposits

Peeks Social Ltd (TSXV:PEEK), a company whose principal activity is the development of social media and social commerce products and services for use by consumers and businesses have provided updated key performance indicators relating to the Peek Social App.

The company announced that the Peeks Social App reached an all-time high of $484,444 CAD in monthly user deposits for May 2018 and maintained over 2 million user sessions.

As quoted in the press release:

The table below provides a summary of select recent quarterly KPIs for the Peeks Social platform. Q1 2019 represents the three months ended May 31, 2018.

Key Performance Indicator	Q4 2017		Q1 2018		Q2 2018		Q3 2017		Q4 2018		Q1 2019
Total Number of User Sessions (1)	2,890,000		5,134,000		4,631,000		5,779,000		6,264,000		6,203,000
Gross Deposits (2)	$312,000		$774,000		$1,174,000		$1,254,000		$1,306,000		$1,437,000

The record deposits for the month of May 2018 are included in Q1 2019 above (three months ended May 31, 2018).  Since the launch of the Peeks Social App in November 2016, the App has experienced six continuous quarters of increased user deposits and positive trends across other KPIs, such as user sessions per quarter.

“We are very pleased with sustained quarter-over-quarter growth across a variety of key metrics on the Peeks Social App.  We continue seeing increased engagement from our loyal user base both in terms of the dollars deposited and visits to the App.  Simply put, people are spending more and coming back more often,” states Mark Itwaru, Chairman and CEO. “After constant testing and refinement of user acquisition campaigns and marketing efforts, we believe that we are now able to dial in the most cost-effective user acquisition campaigns to drive overall revenue growth.”

LAUNCH OF PEEKS.SOCIAL WEBSITE

The Company believes that a key part of the process of increasing both users and revenues is to make it easier for streamers to create content and for users to view content.  In order to accomplish this, Peeks Social will be launching a fully functional web version on www.peeks.social in July 2018. The Company anticipates that the mobile-friendly web version will amplify the capabilities of the platform in many ways, including by improving the conversion rate of new users into active and paying users, and by accessing new audiences of users who prefer consuming livestreaming video on their desktops. For example, desktop viewers who are following Peeks Social influencers through to Peeks Social from other social platforms will encounter fewer steps in the registration process resulting in higher conversion rates and ultimately a lower cost per installation for the Company.  Users who are forwarded to the Peeks Social App from their desktops must currently download and install the App in order to interact and consume content. Additionally, a fully functional website will increase the percentage of overall deposits made through the www.peeks.social website, resulting in higher margins for the Company. The majority of deposits currently received by the Peeks Social App are processed through in-app payments, which are subject to a 30% payment processing fee from their respective app stores.

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