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Peeks Social Announces $455k in Monthly Deposits and Record User Sessions

TORONTO, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Peeks Social Ltd. (TSXV:PEEK) (OTCQB:PKSLF) (“Peeks Social” or “the Company”) is pleased to provide updated key performance indicators (“KPIs”) relating to the Peeks Social platform. The Company is also very pleased to announce that the Peeks Social platform reached an all-time high of $455,000 in monthly user deposits and over 2 million monthly user sessions in November 2017.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/562b7b0b-4f6b-45a4-8219-4959b3db0cdb

The table below provides a summary of select recent KPIs for the Peeks Social platform.

Key Performance IndicatorJun 2017Jul 2017Aug 2017Sep 2017Oct 2017Nov 2017
Total Number of User Sessions (1) 1,538,100 1,485,900 1,606,600 1,734,800 1,953,800 2,090,400
Avg. User Session Duration (1)7min
31sec
8min
02sec
8min
15sec
8min
23sec
8min
19sec
7min
56sec
Gross Deposits (2)$425,000$379,000$370,000$384,000$415,000$455,000

The record deposits for the month of November are reflected in the United States rankings for in app purchases in the social category on the Google Play Store.  As of Friday, December 1, 2017, Peeks Social was ranked #17. Comparable industry products include Music.ly at rank #14, Snapchat at rank #18  and Periscope at rank #23.

The Peeks Social platform recorded 2,090,400 user sessions for the month of November 2017, surpassing the previous record of 1,983,500 recorded in May 2017.  As previously announced on September 5, 2017, and October 31, 2017, the Company made a strategic decision in June 2017 to restrict access to content of a mature nature on the Android Platform. These changes had a temporary impact on Android traffic levels.  The Company made almost identical changes to the iOS app in January 2017.  The effects of the changes on the Android user base were similar to those observed on the iOS user base following the iOS change.  As mentioned in the October 31, 2017, press release, a similar recovery period was expected for the Android platform and that recovery has now occurred as shown in the figures above.

The Peeks app can be downloaded in either the Apple or Google app stores, or by visiting www.peeks.com.

Notes:

  1. These two KPIs represent the number of times the Peeks app was accessed by users and the average duration of use, respectively.  Data was provided through Google Analytics. For additional information on Google Analytics’ definition of “session” and the methods of calculating “sessions”, please refer to https://support.google.com/analytics .
  2. This KPI represents the total amount of external deposits into user wallets in the Peeks Social platform. Wallets may contain USD, CAD, or a digital currency inside the Peeks Social platform referred to as “coins”. Deposits to wallets may be made via credit card or in-app purchase. “Coins” are sold at a premium to their value in order to cover app store transaction fees and as an additional revenue source for the platform. These premiums are not included in this KPI. Deposits denominated in USD are translated to CAD using the monthly average exchange rate as published by the Bank of Canada. While the “gross deposits” is an important KPI for the Peeks Social platform, it is not a direct indicator of the Company’s financial performance.

For further information, please contact:

Peeks Social Ltd.
Mark Itwaru
Chairman Chief Executive Officer
647-992-7727
mark@peeks.com

David Vinokurov
Director Investor Relations
416-716-9281
davidv@peeks.com

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

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