Poynt Corporation (TSX VENTURE:PYN)(OTCQX:PNYTF) ("Poynt Corp." or the "Company"), has launched its Petrol search feature on the Poynt mobile local search and advertising platform, ("Poynt" or the "Platform") for users in the United Kingdom ("UK"). The new Petrol search feature allows users to find the closest or cheapest petrol stations in their local area. Additionally, Poynt users will be able to quickly update current petrol prices where prices have fluctuated.
Poynt Corp. has partnered with Whatgas.com to bring current petrol prices to their UK users. Whatgas.comis the UK's most popular fuel price sharing community. Their data was used by more than 1.5M UK drivers last year, many of whom contribute their local petrol prices to help other motorists find the best place to fill up. The UK database contains more than 8700 petrol stations, the details of which are regularly updated by users and Whatgas.com's dedicated support team.
"Although fuel prices have risen significantly for everyone, petrol prices still vary considerably between nearby stations. The smart motorist can save as much as GBP 5 to GBP 10 per tank if they know the best place to fill up," said Will Bradley, co-founder Whatgas.com. "We are delighted that Poynt users will now be able to access the Whatgas.com database to help them find the best station. Price entries from Poynt users should further improve the price data, and help keep up the pressure on retailers to be competitive."
"In-app petrol prices have proven to be one of our most popular search verticals in the United States and we believe that providing petrol prices to our UK users will be equally successful," said Andrew Osis, CEO, Poynt Corp. "This new feature reflects our continued focus on rolling out feature parity globally, adding new search verticals, and improving our data sources in order to increase user retention, stimulate user queries and grow revenues."
The new version of Poynt featuring Petrol prices is immediately available as a free download in the UK on iPhone, Windows Phone, and Nokia devices along with BlackBerry smartphones and BlackBerry Playbook tablet, from the respective App Stores. Poynt is also available via Over-the-Air download at m.poynt.com.
About the Poynt Platform
Poynt is a convenient and timesaving GPS-enabled mobile local search and advertising platform that connects consumers to local offers, businesses, events, restaurants, movie theatres, gas prices and weather information at the moment they are looking to buy or acquire products or services. Poynt provides consumers with the ability to move beyond discovery of their local area to view movie trailers and reviews, buy movie tickets, click-to-call businesses, get directions, browse listing websites, read reviews and book dining reservations or find and interact with local coupons and offers.
Poynt provides contextual and relevant advertising to users performing local queries and its revenue model is based on user queries, page views, advertising and transactions within the platform. Each user query generates several page views, which are monetized through display advertising and sponsored listings paid for by advertisers. These advertising placements generate revenues on a cost per thousand impressions (CPM) basis or on a cost per click (CPC) basis. Transactions, such as ticket sales and restaurant reservations, also contribute to revenues on a fee for service basis.
Poynt is available as a free download for users in India, Canada, the United States, the United Kingdom, Germany, France, Italy, Spain and Australia on Android, iPhone, Windows Phone and Nokia devices, BlackBerry smartphones and BlackBerry Playbook tablets from the respective App Stores. Poynt is also available via Over the Air download at m.poynt.com.
About Poynt Corporation
Poynt Corporation (about.poynt.com) (TSX VENTURE:PYN)(OTCQX:PNYTF) is a global leader in the mobile local advertising space. Its Location Based Search (LBS) and advertising platform, Poynt (www.poynt.com), enhances a user's ability to connect with the people, businesses and events most important to them. Poynt is available on Android, iPhone, Windows Phone and Nokia devices, along with BlackBerry smartphones and BlackBerry PlayBook Tablets in Canada, the United States, Europe, India and Australia. Poynt Corp. entered the mobile publishing space with the acquisition of an advertising publishing platform in January 2011. Whether through the Poynt Local Search Platform or the Ad Publishing Platform, Poynt Corp. simplifies connecting consumers with businesses, retailers and events. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN and in the United States on the OTCQX under the symbol PNYTF.
Important Cautions Regarding Forward-looking Statements
This news release contains forward-looking statements relating to: anticipated results of providing petrol prices to UK users; anticipated revenues and user uptake associated with the new search vertical; Poynt Corp.'s plans to focus on feature parity globally, new search verticals and data improvement and the effects of such plans on user retention, user queries and revenues; expected effect on price data and competition as a result of the ability of Poynt users to update current petrol prices; and other statements that are not historical facts. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.
These forward-looking statements are based on certain key assumptions regarding, among other things: future technological developments; the cost of expanding product lines; the impact of increasing competition; the continuity of existing business relationships; the continued successful development, implementation and execution of the Poynt platform; continued growth in number of active users of the Poynt platform; conditions in general economic and financial markets; the ability to complete previously announced transactions; ability to obtain all necessary regulatory approvals; and our ability to obtain financing on acceptable terms. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of f uture growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products; the success of the Company's brand development efforts; risks associated with strategic alliances; failure of counterparties to perform on contracts; failure to successfully negotiate contracts; failure to successfully negotiate additional preload agreements; reliance on distribution channels; product concentration; need to develop new and enhanced products; failure to obtain necessary regulatory approvals; potential product defects; our ability to hire and retain qualified employees and key management personnel; risks associated with changes in domestic and international market conditions and the entry into and development of new markets for the Company's products; and the risks described under "risk factors" in our Annual Information Form for the year ended December 31, 2010 which is available on our SEDAR profile (www.sedar.com).
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on expectations of, or statements made by, third parties in respect of the forward-looking statements identified above.
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SOURCE: Poynt Corporation
Company Contact:Poynt CorporationAndrew OsisCEO403-313-3719www.poynt.comEuropean Media Communications Contact:CC-Group Communications Ltd., for Poynt CorporationNicole Littlewood or Howard Jones+44 118 920 7650[email protected]North American Public Relations Contact:Global Results PR for Poynt CorporationValerie Christopherson949-608-0276[email protected]Investor Relations Contact:Liolios Group, Inc.Scott Liolios or Matt Glover949-574-3860[email protected]