Mobivity Completes Integration of SmartReceipt, Receives Order for Over 1,000 New Installations for Major Quick-Service Restaurant Brand
PHOENIX, April 3, 2014 /PRNewswire/ -- Mobivity Holdings Corp. (OTCQB: MFON), an award-winning provider of proprietary and patented mobile marketing technologies and solutions, today announced the completion of the integration of SmartReceipt and an order for over 1,000 new installations from a major quick-service restaurant (QSR) brand.
The announcement came less than three weeks after the Company completed its acquisition of the assets and operations of SmartReceipt, Inc., a marketing solutions company whose software products transformed traditional retail transaction receipts for Subway, Baskin-Robbins, Dairy Queen and others into engaging "smart" receipts that feature coupons and special offers for consumers. SmartReceipt was a privately-owned company based in Santa Barbara, California.
Working with a pizza chain, Mobivity has achieved its first deployment of SmartReceipt's printed receipt data combined with the Company's SMS and Stampt mobile loyalty app. The customer has the ability to present specialized offers, coupons, and messages, and to gather actionable data based on actual individual purchasing histories.
In addition, Mobivity has received an additional order for more than 1,000 major QSR locations beyond their current install base. The Company is already deploying these locations and has a goal of completing these installations by June.
Dennis Becker, chief executive officer of Mobivity, said, "The first deployment of the expanded product offering is a milestone for the Company and an exciting advancement for our client. Through a fast, yet comprehensive integration process, we are seeing significant customer interest in our combined solution. We are continuing to build upon what we believe is among the largest installed base of any SaaS mobile loyalty programs in the industry, with more than 17,000 locations."
Up to 1.2 million receipt transactions are processed daily by Mobivity across thousands of installations throughout the U.S..
Mike Bynum, President of Mobivity, commented, "The enthusiasm by leading retailers around the country to the capabilities and unique integration of these technologies gives us reason to believe that great opportunity is ahead of us. We see that bearing fruit in both cross-selling situations and in newly discovered sales opportunities."
Mobivity is an award-winning provider of a suite of patented mobile marketing technologies designed to drive sales, enhance customer engagement, and reward customer loyalty for local businesses and national brands. Its solutions enable businesses across the United States to drive incremental sales and profitability by quickly and effectively communicating to their most loyal customers. Included are SmartReceipt, which transforms traditional retail transaction receipts into engaging "smart" receipts, an industry-leading text messaging product, and an innovative Stampt™ mobile loyalty application, Additionally, Mobivity offers a unique, high definition graphical system platform that allows its clients to enhance customer or fan experience by interacting with their mobile phones and video boards or screens in real time. Mobivity's clients include national brands such as CNN, Disney, the NFL, Sony Pictures, AT&T, Chick-fil-A, NBC Universal, and numerous professional sports teams, as well as thousands of small, local businesses across the U.S. For more information, visit www.mobivity.com.
Forward Looking Statement
This press release contains forward-looking statements concerning Mobivity Holdings Corp. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to Mobivity's failure to successfully cross-sell SmartReceipt's products and services with its own; the risk that SmartReceipt customers will not continue their relationship with Mobivity; the risk that Mobivity may be unable to retain and expand the current base of SmartReceipt customers; the risk that Mobivity's may be unable to develop the sales force required to achieve its development and revenue goals; the risk that Mobivity may be unable to raise additional working capital as and when needed; changes in the laws and regulations affecting the mobile marketing industry and those other risks set forth in Mobivity Holdings Corp.'s annual report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 31, 2014 and subsequently filed quarterly reports on Form 10-Q. Mobivity Holdings Corp. cautions readers not to place undue reliance on any forward-looking statements. Mobivity Holdings Corp. does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
SOURCE Mobivity Holdings Corp.
Released April 3, 2014