Business
Yappn Signs Agreement With Leading German Football Network Fanorakel
Yappn Signs Agreement With Leading German Football Network Fanorakel.
About this update from Yappn Corporation
[{"type":"text","content":"\nNEW YORK, Dec. 8, 2014 (GLOBE NEWSWIRE) -- Yappn Corp. (\"Yappn\" or \"Company\") (OTCQB:YPPN) a leader in real-time language technology, today announced that it has signed a Memorandum of Understanding (MOU) with Munich based Fanorakel (www.fanorakel.de), Germany's largest social media network for German Football fans. Fanorakel creates unique social content, interactive user platforms and applications that create engagement for fans prior, during and post matches, creating engagement across the entire Football Fan experience over mobile, web and Smart TV programming.\n\n\tThe parties have initially agreed to a revenue share program, with opportunities, based on the execution of a definitive agreement to enter an equity based Joint Venture program between TranzActive, a division of Intertainment Media Inc., Yappn Corp. and Fanorakel. The scope of the Agreement would be to expand offerings across both the global Football / Soccer market and other leading professional sports opportunities through both Fanorakel and Fan Oracle.\n\n\tInitially, Fanorakel and Yappn have agreed to provide the currently native Fanorakel German experience in other languages, beginning with English, as Fanorakel looks to expand its offerings globally. This phase of the program is expected to launch by end of February 2015. The parties will also look to expand Fanorakel's global social engagement through Yappn programs like FotoYapp.\n\n\t\"We are very pleased to have the opportunity to increase our reach and further grow our business opportunities by adding the ability to provide our content and services in multiple languages with Yappn,\" state Franz Dillitzer, CEO of Fanorakel. \"Fanorakel is the leading social network for German Football fans and our goal is to grow our offerings and revenues to reach the global market. Our agreement with Yappn allows us to do so efficiently and effectively.\"\n\n\tAccording to Sporteology, Football / Soccer has an estimated 3.3 to 3.5 Billion global fans. The \"Beautiful Game\" is played by approximately 250 million people in over 200 countries, making it the world's most popular sport. Forbes has stated that the 2014 World Cup generated an estimated $4 Billion USD in revenue, mostly through marketing and television rights. According to Huffington Post, the 2014 World Cup at...