First Dividends Paid in Transparent, Passive Revenue Program - More Modules to Come
NEW YORK, March 10, 2020 /CNW/ - Killi, a consumer-led privacy application wholly owned by Freckle Ltd. (TSXV: FRKL) (the "Company"), today announced the launch of its Data Dividend™ program to users who consent and share specific pieces of data over a predetermined time frame. Subscribers who share data will automatically receive:
- notification of their dividends via SMS and/or email
- the amount, in cash, of each dividend that will automatically be credited to their account,
- a clear, transparent description of who purchased their data and,
- clear opt-out functionality for future dividends and data sales
All of the above are market firsts.
The first Data Dividend™ payment was made to U.S. and Canadian users who shared their location data during the month of January 2020, and again to those who shared their data in February. Consumers in February saw a doubling of dividends vs those distributed in January. Starting in March Killi will pay users a weekly dividend for users who have shared location for the previous seven days, multiplied by the number of companies that purchased this data.
"Last year, California Governor Gavin Newsom proposed a data dividend that could allow residents to get paid for providing enterprises with access to their personal digital data." said CEO Neil Sweeney. "Killi is the company that has made the Governor's vision a reality, and we will be aggressively expanding our Data Dividend™ program into other areas to include a variety of additional passive revenue opportunities for customers."
By voluntarily enabling location sharing, American and Canadian subscribers have increased their earnings (ARPU) by approximately 120% in January and approximately 89% in February. This location-rich data is especially attractive to companies in need of location data since Apple's September release of iOS13, which reduced the availability of consented location data in the global market considerably. Companies that are interested in acquiring location data that is 100% consumer-consented and conforms with all privacy regulations are encouraged to reach out to Killi directly to participate in this program. The higher ARPU generated by passive dividends for consumers, when combined with the research surveys and video opportunities currently available inside of the product, will continue to increase the loyalty and lifetime value of the Killi user, allowing the ecosystem to continue to expand internationally.
"This is the first time ever that the consumer has been given access to transparently see who is purchasing their data and be compensated accordingly." added Mr. Sweeney. "There are a number of companies collecting data today that are offering rewards or tokens in exchange for this consumer data but they are hiding who the purchaser of this data is as well as the true value of this data from the consumer. Killi is challenging this blatant bait-and-switch by providing not only passive income to its users, but also the transparency the consumer deserves. Passive dividends clearly benefit all of Killi's stakeholders, and we have more Data Dividend™ modules planned for release—several of which have the potential for multiple payments from the same datasets provided by users."
About Freckle Ltd.
Freckle's consumer identity mobile application "Killi" (killi.io) allows consumers to take back control of their digital identity from those who have been using it without their consent. With Killi, consumers can opt-in and select specific pieces of personal information that they would like to share with companies, as well as answer specific surveys, and be compensated directly for these answers. Download Killi here.
Freckle, via its data and offline measurement products, also allows leading brands and platforms to measure the effectiveness of their advertising by independently matching media spend to in-store visitation while remaining media agnostic. Freckle's technology is used by Fortune 500 brands like McDonald's, Lexus, Walmart, Verizon and AT&T, and is a core component of the top demand-side platforms (DSPs) and data management platforms (DMPs) used around the world.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
DISCLAIMER FOR FORWARD-LOOKING INFORMATION
Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, ability to secure additional sales, ability to negotiate partnerships on favorable terms, and user acceptance of the improved UI. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe'' or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding: expansion of the Killi application outside of North America; increasing ARPU for Killi; expansion of the Data Dividend™ program; continued payments of Data Dividends™; addition of further modules to the Killi application; improvement of the Killi UI; improvement of user engagement and user retention; expansion of Freckle's global presence; building Killi into a legal global DTC application for Data Privacy; and, improving key data metrics. Although management of the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation assumed no obligation to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The securities of the Corporation have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
SOURCE Freckle Ltd.