OTTAWA, Jan. 3, 2014 /CNW/ - Ackroo Inc. (TSXV: AKR) ("the Company"), a loyalty and rewards technology and
services provider, is pleased to provide this corporate update
highlighting the company's accomplishments in 2013 and to outline its
mandate for 2014.
Ackroo's web-based software platform combines the convenience of a gift card, the customer retention power of a loyalty program and the immediacy of promotional offers in a single, easy-to-use
solution enabling businesses of all sizes to launch customer retention
programs that drive revenue.
2013 was a very successful growth year for revenue, number of customer
locations and penetration into new markets. The Company is now
positioned as one of Canada's fastest growing providers of loyalty,
gift cards and rewards programs. "The record results for the past year
show the strength of our core Canadian-focused operating plan and we
will leverage this success as we expand into the U.S. in 2014," said
Eamonn Garry, chief executive officer at Ackroo. "We remain committed
to expanding our customer base with our market-leading, flexible
software solution that serves key retail market verticals including
automotive dealer groups, multi-location retail chains and sports and
Key highlights from the year include:
Record revenue growth of 76% compared to last year, with an average
quarter over quarter growth rate of 25% (up to the end of Q3).
Record revenue in Q3 of $355,861 (93% growth Year over Year).
More than doubling of the number of customer locations to 650 (160%
growth Year over Year)
Integration with the most widely deployed payment terminals including
the VeriFone Evolution and Ingenico Telium point-of-sale systems.
Increased market share of existing verticals and successful penetration
of additional retail verticals including:
Automotive dealer groups
Multi-location retail chains
Sports and entertainment groups
Business Improvement Areas
Hospital and not-for-profit beneficiary groups
Continued services expansion into mid-market opportunities with loyalty consulting, design and deployment for multi-location (20+) businesses.
The Company's business model is based on one-time and recurring revenue.
As the Company continues to penetrate medium to large sized businesses,
the recurring revenue profile becomes more robust with resulting
potential average annualized revenue for a medium sized business of
approximately $7,500. The company has proven its ability to scale its
solution to meet the accelerating needs of extremely large
transaction-intensive customers; for example, $1M of processed
transactions executed for a single customer over a three-week period in
December on top of the more than $50M of processed transactions to
Looking ahead to 2014, the Company will focus on acquiring additional
multi-location retail chains, automotive dealer groups and larger
businesses such as sports and entertainment groups. This coupled with
the planned expansion into the U.S. market will fuel continued growth.
With the close of its current funding round, the Company's mandate is
to match 2013 percentage growth numbers with quarter over quarter
increases between 10% and 25% with an average of greater than 20%.
"The company's mandate for 2014 reflects our experience from 2012 and
2013," said Eamonn Garry, chief executive officer at Ackroo. "The
market we are addressing is a multi-billion dollar market in North
America and this fact, coupled with our recent successes with larger
organizations, gives us the confidence to execute and potentially
better our plan in 2014."
The company wishes to thank its investors, customers and employees for
their support in 2013 and is looking forward to an exciting 2014.
Ackroo provides gift card and loyalty solutions into the $145 billion North American gift card
and loyalty market. Their solutions enable businesses, merchants and business networks to increase profitability and build
long-term customer relationships through customized gift card and loyalty programs. Ackroo's web-based solutions provide the power of a massively scalable
software platform in a lightweight online tool that works with existing
point-of-sale equipment, making it easy and affordable for businesses
to launch loyalty programs that deliver immediate return on investment.
Ackroo is headquartered in Ottawa, Canada. For more information, visit:
The TSX Venture Exchange has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the
contents of this press release. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This press release contains statements that may constitute
"forward-looking statements" within the meaning of applicable Canadian
securities legislation. These forward-looking statements include, among
others, statements regarding business strategy, plans and other
expectations, beliefs, goals, objectives, information and statements
about possible future events. Readers are cautioned not to place undue
reliance on such forward-looking statements. Forward-looking statements
are based on current expectations, estimates and assumptions that
involve a number of risks, which could cause actual results to vary and
in some instances to differ materially from those anticipated by Ackroo
Inc. and described in the forward-looking statements contained in this
press release. No assurance can be given that any of the events
anticipated by the forward-looking statements will transpire or occur
or, if any of them do so, what benefits Ackroo will derive there-from.
SOURCE: Ackroo Inc.
For further information:
Chief Financial Officer | Ackroo
Tel: 613-599-2396 x714
President | Network IR