Mobile App Acquisition Activates Pillar 3 of BIG Business Model
Completion of Technology Acquisition - Tipsly Stage One
The acquisition of the sophisticated, state-of-the-art proprietary mobile application technology suite was negotiated in May 2017 and settlement of 3m shares has occurred. The founders of Tipsly have joined the Company's tech team in the US and will continue to work with BIG. The shares are subject to an agreed sale restriction and the Tipsly founders have indicated their ongoing commitment to the Company.
The mobile application code is being integrated into the Big Review TV consumer video review platform and mobile app, and final preparations are now underway for launch of V1 this quarter.
The acquisition provides both B2B and B2C applications and importantly, speed to market of a vastly superior video review app with features that include:
- Geo Fencing and Geo Targeting
- Consumer Concierge Service
- In-app Purchase
- In-app Messaging
- Geo Location
- Consumer Review and Reward System
- Targeted Brand Offers/Advertising
- In-app Access to Uber
- Product Scanning
- Consumer Data & Analytics
All of the above features now form part of the Big Review TV intellectual property. The Company plans to introduce these features in several controlled and measured stages.
BIG's CTO Jason Short commented "We are now "tech'd up" and ready to go. Our new suite of technology is extremely comprehensive and will enable us to deliver a unique and unparalleled B2B2C video review app. V1 incorporates features that are simple to use and will appeal to both SME's and consumers".
The Company plans to utilise its recent partnership with Zeta Global to help market the app to millions of consumers along with rolling out experiential marketing to SME's and social media marketing campaigns during 2018. Further details will be available in the coming weeks.
Stage two of the Tipsly acquisition relates to the Tipsly hospitality database and advertising revenue and is still subject to due diligence.
Richard Evertz CEO says: "We are very excited to have completed the acquisition of the Tipsly app. The technology completes the infrastructure of our three pillar business model and consolidates our first mover advantage. This technology will enhance BIG's global revenue opportunities whilst providing the company with a deeper relationship with both SME's and consumers. We are very fortunate to be working with the original founders of Tipsly and I believe that this technology will allow BIG to dominate the video review space that we have created".
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About Big Un Ltd
Big Un Ltd (ASX:BIG) is the parent company of Big Review TV Ltd. Big Review TV are innovative disruptors in the online video space delivering subscription based video technology products and services. The Company has operations across Australia and in New Zealand, the United Kingdom and the United States, Hong Kong, Singapore and Vancouver and was listed on the ASX in December 2014.
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