NEW YORK, Dec. 1, 2014 (GLOBE NEWSWIRE) -- Yappn Corp. ("Yappn" or "Company") (OTCQB:YPPN) a leader in real-time language technology, today announced that it has signed a three-year Master Services Agreement and Scope of Work with Digital Widget Factory ("DWF"), a private global consortium that manages online user engagement for client programs in Asia, Europe, Central and South America, to execute the development, management and maintenance of a minimum of 200 multilingual Ecommerce and other revenue-based web sites, each optimized for mobile, portable and web consumers.
Based on the terms of the agreement Company management expects it to generate revenue up to $3,000,000 in 2015. For two (2) successive years the Company is under contract to produce an additional 400 multilingual Ecommerce and other revenue sites in 2016 and up to 525 additional sites in 2017. Contract execution terms include advance project pre-paid fees of a minimum of $250,000 to the Company in addition to 20% of the net profit on the program for the duration of the term.
In addition to the build and management process through its Ecommerce transaction suite of services, Yappn will also be engaged to provide multilingual online marketing through traditional online services and social engagement, including its multilingual social aggregation system, FotoYapp.
"This is a landmark agreement for the Company as we continue to execute on our revenue strategy, leveraging the natural migration of businesses toward expansion of Ecommerce well beyond traditional domestic markets," stated David Lucatch, Company Founder and CEO. "We empower brands to globalize their offerings and build larger market shares by efficiently navigating the language barrier in real-time. We believe this agreement will provide the foundation for building long-term shareholder value."
About Yappn
Yappn is a real-time multilingual company that amplifies brand messaging, helps conduct commerce and provides customer support by globalizing these experiences with its proprietary approach to language. Through its real-time multilingual amplification platform, Yappn eliminates the language barrier, allowing the free flow of communications in 67 languages. Yappn has developed cost effective, unique and proprietary technology tools and services that create dynamic solutions that enhance a brands messaging, media, e-commerce and support platforms.
In addition to Yappn, FotoYapp (www.fotoyapp.com) provides consumers, brands and Influencers with the ability to share media content (images, video, audio, etc.) instantly across the global social sphere with all major social posts in a single environment in almost any language allowing global participants to interact with each other, regardless of their native tongue.
Yappn Corp. is publicly in the U.S. on the OTCQB – symbol "YPPN" and leading technology incubator; Intertainment Media Inc. (TSXV: INT / US: ITMTF / FRA: I4T) has a controlling interest in Yappn Corp.
For more information, please visit http://www.yappn.com.
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Forward Looking Information
Legal Notice and Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions, are "forward-looking statements." Although Yappn Corp.'s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC including the Current Report on Form 8-K filed on April 3, 2013 and each subsequently filed Quarterly Report on Form 10-Q and Current Report on Form 8-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.