Business
Snipp Announces US$500,000+ Contract Extension, SVB Update and Management Changes
(via TheNewswire) WASHINGTON, DC / TheNewswire / October 18,...
About this update from Snipp Interactive Inc.
[{"type":"text","content":"Snipp Announces US$500,000+ Contract Extension, SVB Update and Management Changes(via TheNewswire)\n \n \n\n\n\n \n\n\n \n \n\n\n\n \nWASHINGTON, DC / TheNewswire / October 18, 2017 - Snipp Interactive Inc. (\"Snipp\" or the \"Company\") (OTCQB: SNIPF; TSX: SPNV), a global provider of digital marketing promotions, rebates and loyalty solutions, today announced that is has it has secured a multi-year extension worth over half a million dollars from a leading CPG company (the \"Customer\") and existing Snipp client. This announcement comes close on the heels of a deal with the same Customer, announced on September 19, 2017 worth US$250,000. The Customer is a multinational Fortune 500 company that manufactures personal and household care products and has a portfolio of over 50 brands. \n\n \n \nThe Company is currently running a successful multi brand loyalty program for this Customer, where consumers who purchase $50 worth of qualifying products at a leading retailer get a $10 retailer gift-card in the mail. Consumers can meet the purchase requirement over a single or multiple transactions. Snipp is handling the receipt validation, fulfillment and customer service for this program. \n\n \n \n\"This deals marks the second deal we've signed with this CPG giant in two months, a testament to the performance and efficiency of our platform. We are thrilled to see our solutions producing tangible results and being validated by large global companies.\" Said Atul Sabharwal, CEO of Snipp. \"We will continue to build on our platform and look forward to continue to incentivize daily consumption and drive engagement and loyalty for this client through this program.\"\n\n \n \nThe Company would also like to announce the resignation of Mr. Rob Rathke, EVP Sales who is stepping down for personal reasons and to spend more time with his family. \"I would like to personally thank Rob for all of his efforts and leadership in assisting the Company in formulating a new and more focused sales strategy, which will now be under my direct supervision\" said Atul Sabharwal. \"With a well-tested suite of products now available to the Company, I am looking forward to dedicating more of my time in leading the Company's sales efforts\" added Sabharwal. \n\n \n \nThe Company is also pleased to announce that Silicon Valley Bank (SVB) agreed to enter into a Forbe...