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Quepasa Launches In-App Purchasing on the iPhoneTop-Grossing Android Social Products Now Available on iPhone As Well (March 28, 2012)
NEW HOPE, PA -- (Marketwire) -- 03/28/12 -- Quepasa Corporation (NYSE Amex: QPSA), the public market leader for social discovery and owner of North-American platform myYearbook and Latin-American platform Quepasa, today announced the launch of in-app purchasing in myYearbook's flagship iPhone application.
"myYearbook for Android is now the top-grossing social application on Google Play (formerly Android Market),(1) according to Google's rankings, since the launch of in-app purchasing one month ago on that platform. Today, we bring a similar freemium monetization engine to our iPhone app," said Geoff Cook, Chief Operating Officer of Quepasa Corporation. "Our iPhone audience represents 20 percent of our daily active users and potentially the most monetizable. iPhone has less friction to payment than even web payments, as nearly every iPhone app user is just two taps away from payment -- even free iPhone app downloads require an active iTunes billing profile."
"We are excited at the opportunity for mobile monetization," continues Cook. "We expect the share of revenue from mobile products will increase as smartphone penetration increases among our users, as payment friction is reduced on Android, and as we launch a mobile incented offers product in Q2."
myYearbook for iPhone follows the Android product in now enabling users to self-promote and move up in Popularity Rank by activating three highly-trafficked Spotlight features, all targeted by age, gender and location:
- Spotlight Bar - Purchasers are promoted on the member dashboards of the website and mobile applications, resulting in significantly more attention for the duration of the feature, as measured by profile visitors and friend requests.
- Match Spotlight - Purchasers are given priority in Match, a popular feature aimed at meeting new people, substantially increasing the number of potential matches.
- Live Feed Spotlight - Purchasers can "pin" one of their feed posts to the top of the Feed for everyone to see, generating great discussions and more comments and likes than ever before!
All users receive a Popularity Rank based on the number of profile views, friend requests, secret admirers, likes, and comments they receive. Users can track their Popularity Rank over time, and every user's Popularity is publicly visible on their profiles for easy comparison.
Available today, myYearbook members can use their iTunes billing profiles to purchase these products on the iPhone.
About Quepasa Corporation
Quepasa Corporation (NYSE Amex: QPSA) is the public market leader for social discovery and owner of Latin-American platform Quepasa and North-American platform myYearbook. The company makes meeting new people fun through social games and apps, monetized through both advertising and virtual currency. In addition to Quepasa and myYearbook, the Company operates Quepasa Games, a cross-platform social game development studio. Quepasa has strong reach throughout the world, with a concentration across North and South America. Quepasa is headquartered in New Hope, Pennsylvania. For more information about the Company, go to www.quepasacorp.com, or join for free at www.Quepasa.com, myYearbook.com, or via the myYearbook app on iPhone, iPad, and Android.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements including the potential monetization of iPhone, opportunity for mobile monetization, expectations regarding revenues from virtual currency and launching an incented offers product in the second quarter. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods.
Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include issues that affect the functionality of our mobile application with popular mobile operating systems, any changes in such operating systems that degrade our mobile application's functionality and other unexpected issues which could adversely affect usage on mobile devices, the willingness of our users to purchase virtual credits on their mobile devices and unexpected delays in releasing an incented offers product.
Further information on the Company's risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 10-K for the year-ended December 31, 2011 filed on March 14, 2012. Any forward-looking statement made by the Company in this press release speaks only as of the date on which it is made. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
(1) Rankings based on Google Play (formerly Android Market) rankings of Apps > Social > Top Grossing on 3/26/2012.
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EVP Communications & Public Relations
(215) 862-1162 x230
Atomic PR for Quepasa Corporation
E. Brian Harvey
Vice President of Capital Markets and Investor Relations
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