Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
* Kiip Rewards Now Integrated into Yahoo! Japan’s Popular iOS and Android Apps
* Yahoo! Japan Leverages Kiip’s Platform for Increased Retention and User Engagement in Its Apps
* Users in Yahoo! Japan Apps Will Receive “T Points” – the Largest Shared Loyalty Program in Japan – as Kiip Rewards
SAN FRANCISCO (July 23, 2013) – Named one of the world’s 50 Most Innovative Companies in 2013 by Fast Company, Kiip today announced it has partnered with Yahoo! Japan to offer Kiip rewards in Yahoo! Japan’s iOS and Android apps. The campaign marks the first time Yahoo! Japan has integrated a third-party platform into its apps, which are some of the most downloaded apps in the country.
In the initial phase of the campaign, Yahoo! Japan is offering “T Points” (merged with Yahoo! Points) as Kiip rewards, effectively using Kiip as a technology layer to power their own rewards for retention and user engagement benefits in their app. Yahoo! Japan is leveraging Kiip’s moments-based approach to serendipitously reward users for their natural behavior in the app.
“This showcases Kiip's continued trek in our diversity of moments throughout the day beyond gaming, as we begin to own more and more of the moments occurring in consumers’ everyday lives,” said Brian Wong, CEO and co-founder of Kiip. “The huge inroads we are making in Japan have been fueled by our relationship with our strategic investor Digital Garage, and this partnership underscores Yahoo’s commitment to owning individual moments in mobile. With more than one in every three people in Japan actively using T Points, this integration is a massive achievement for Kiip, and we anticipate this will turbo-boost our growth internationally.”
The T Point is the largest shared loyalty program in Japan a shared loyalty program with more than 46 million active unique members. As of May 31, 2013, there were 58,000 T Point alliance shops in 100 companies throughout Japan. T Points can be exchanged with participating businesses, including Yahoo! Shopping, for goods, services, tickets and even charitable donations.
Kiip’s rewards network reaches 75 million users globally each month in more than 1,100 Kiip-enabled iOS and Android apps. Its platform is used by more than 115 of the world’s major consumer brands, including 7-Eleven, Amazon, American Apparel, Campbell’s, Ford, Hasbro, Macy’s, McDonald’s, Mondelēz International (formerly Kraft Foods), Pepsi, Procter & Gamble, Sony Music, Unilever, Verizon and Wrigley. Kiip currently tracks more than 500 million monthly Engaged Moments within its rewards network.
Kiip is the world’s largest and most effective mobile rewards network that delivers real and virtual rewards for Engaged Moments (EMs) in apps. The company’s rewards platform enables brands to reach consumers in the moments when they are most engaged and receptive, while driving revenues and greater user allegiance for Kiip-enabled games and apps. Kiip was founded in 2010 by Brian Wong, Courtney Guertin and Amadeus Demarzi. In addition to its San Francisco headquarters, Kiip now has offices in New York City, Los Angeles, Chicago, Vancouver, London and Bogotá. Kiip is currently backed by Relay Ventures, Interpublic Group, Hummer Winblad, True Ventures, Digital Garage, Verizon Ventures, Crosslink Capital and others. For more information, visit www.kiip.com<http://www.kiip.com>.