NEW YORK, NY — (Marketwired) — 11/05/15 — MOKO Social Media Limited (NASDAQ: MOKO) (ASX: MKB)
Highlights
REC*IT now on +1,000 U.S. colleges including 7 of the 8 Ivy League members
Explosive growth with October 2015 total app installs of +410,000 representing a YOY increase of 86% over 2014
MOKO Social Media Limited–s flagship app, REC*IT, is the only widely accepted college intramural and recreational sports app, with unprecedented access to over 1,000 U.S. colleges including the following Ivy League schools.
Brown University
Columbia University
Cornell University
Dartmouth College
Harvard University
University of Pennsylvania; and,
Princeton University
Through partnership with leading management software provider IMLeagues, MOKO has secured the exclusive perpetual rights to provide REC*IT to the above universities, among many others.
REC*IT is an award-winning mobile app that enables students to participate in, and manage, college intramural sports and recreational activities on their campus. Adoption of the product has been explosive with total app installs exceeding 410,000 and representing a year-on-year increase of 86% over MOKO–s October 2014 total app installs of +220,000.
MOKO Social Media founder and CEO, Ian Rodwell, said, “I am thrilled that we have been able to extend our exclusive college reach and make REC*IT available to some of the most elite institutions in the United States. We have almost doubled our users since last year and I look forward to growing our footprint further.”
MOKO is on the path to achieve its target of 500,000 total REC*IT app installs by end of calendar year 2015.
About MOKO SOCIAL MEDIA Limited
MOKO Social Media–s REC*IT product is a mobile leading U.S. college intramural and recreational mobile sports platform. An agreement with IMLeagues, the leading and largest provider of university sports administration services in the U.S., grants MOKO exclusive and perpetual access to provide its award-winning app to over 1,000 U.S. colleges, representing approximately 50% of the U.S. college population and over 10 million students.
REC*IT provides college students with instant access to relevant and exclusive intramural and recreational sports information in a proprietary platform that allows the user to consume and share information seamlessly. This integrated approach provides MOKO with unique and exclusive exposure to an audience that is highly desired by advertisers and that can be leveraged for growth and revenue through advertising, sponsorship, social network distribution and other monetization of the platform.
Note
This announcement is for informational purposes only and is neither an offer to sell nor an offer to buy any securities, or a recommendation as to whether investors should buy or sell.
Special Note on Forward-Looking Statements
This press release contains information that may constitute forward-looking statements and uses forward-looking terminology such as “anticipate” “propose” “expect” and “will,” negatives of such terms or other similar statements. You should not place undue reliance on any forward-looking statement due to its inherent risk and uncertainties, both general and specific. Although we believe the assumptions on which the forward-looking statements are based are reasonable and within the bounds of our knowledge of our business and operations as of the date hereof, any or all of those assumptions could prove to be inaccurate. Risk factors that could contribute to such differences include our ability to prepare required documents in connection with the proposed offering, the timing of regulatory review, performance of our shares on the Nasdaq Global Market, and the performance of the United States and global capital markets and companies in our sector, as well as factors relating to the performance of our business, including intense competition we face; failure to innovate and provide products and services that are useful to users; our ongoing need for capital for investment in new and existing business strategies and new products, services and technologies, including through acquisitions; our dependence on advertising revenues; the potential for declines in our revenue growth rate and downward pressure on our operating margin in the future; increased regulatory scrutiny that may negatively impact our business; legal proceedings that may result in adverse outcomes; failure to maintain and enhance our brand; uncertainty as to our ability to protect and enforce our intellectual property rights; and uncertainty as to our ability to attract and retain qualified executives and personnel. The forward-looking information provided herein represents the Company–s estimates as of the date of the press release, and subsequent events and developments may cause the Company–s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company–s estimates of its future intentions as of any date subsequent to the date of this press release. Our plans may differ materially from information contained in the forward-looking statements as a result of these risk factors or others, as well as changes in plans from our board of directors and management.
MOKO SOCIAL MEDIA Limited
US:
Jason Nash
202 431 1042
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