Loop Insights Signs $1,930,000 USD License Deal with Austin, TX Based CasaPerks
VANCOUVER, BC, Sept. 28, 2020 /PRNewswire/ - Loop Insights Inc. (TSXV: MTRX) (the "Company" or "Loop"), a provider of contactless solutions and artificial intelligence ("AI") to drive real-time insights, enhanced customer engagement, and automated contact tracing to the brick and mortar space, is pleased to announce the signing of a short form agreement to grant Austin, TX based startup CasaPerks LLC ("CasaPerks") a non-exclusive license to use various aspects of Loop's technology in return for $1,930,000 in cash and shares.
CASAPERKS SOLUTION FOR THE PROPTECH MARKET COMBINED WITH LOOP ARTIFICIAL INTELLIGENCE CREATES POWERFUL, DISRUPTIVE OFFERING
CasaPerks is a property technology, or "proptech", startup from Austin, Texas. Proptech is a very fast-growing space and CasaPerks is on its cutting edge, creating a multi-pronged solution specifically for the commercial real estate industry. For the property operator, CasaPerks will help drive revenues and significantly reduce costs, while for the resident it will greatly enhance the overall living experience.
As part of this multi-pronged approach, CasaPerks will provide both reward (i.e points) and fintech layers (i.e. car payments) that will require the artificial intelligence capabilities of Loop to optimize and maximize a target market that includes 79.5 million renters in 14.1 million units. Loop Technologies included in the license are as follows:
- AI Data Insights Portal;
- Smartapp Check-in technology;
- Digital Wallet Pass Technology
Loop Insights CEO Rob Anson stated, "I am very excited about the path and direction of CasaPerks, which is led by Kevin Bradt, whose track record of success speaks for itself. CasaPerks' major disruptive strategy, which now creates a return on rental investment, is a major paradigm shift in the entire sector's core value proposition. Combined with our AI & Big Data Solutions, CasaPerks' loyalty rewards and Fintech will result in a very powerful product offering. COVID-19 has accelerated the necessity for mobile commerce in every vertical, and CasaPerks is now set to quickly become the new standard for the industry."
DISRUPTIVE OFFERING PROVIDES MASSIVE POTENTIAL UPSIDE AS "PROPTECH" GROWS UNDER COVID-19
The last couple of years have seen the emergence of proptech, which is applying information technology and platform economics to streamline and modernize the cumbersome process of browsing, building, and transacting in real estate.
In 2019 alone, upwards of $16 billion USD in venture capital flowed into proptech startups (according to data from Crunchbase and Pitchbook), clearly demonstrating that VC's "are turning to proptech for returns and disruption on a global scale".
The advent of COVD-19 has only further accelerated the need for proptech applications from Hedge Funds, Pension Funds and owners who have seen significant disruption in their investments and look to new revenue models and opportunities.
LICENSING AGREEMENT CREATES "A.I. PROPTECH" FOR GLOBAL SCALE
The CasaPerks platform infused with Loop Insights technology represents the dawn of Artificially Intelligent property technology that delivers an entirely new experience to users while providing investors and owners with multiple areas to create value.
Moreover, the offering will provide major brands with unparalleled data and direct access to the CasaPerks user base, including renowned brands in grocery, finance, fast food, internet, and entertainment.
The combination of CasaPerks and Loop is expected to create lucrative revenue models based on known user profiles thanks to robust granular insights based on real-time engagement, spend and future needs, leading to significant impacts on:
- ARPU Average Revenue Per User
- ARPL Average Revenue Per Location
Kevin Bradt, CEO of CasaPerks, stated, "Our strategy at CasaPerks is to build a robust platform with best-in-class partnerships throughout our entire ecosystem. Loop's technology is very impressive and provides us with significant additional layers to our core technology that will prove to be extremely valuable. Our vision is to expand CasaPerks from a regional offering to a national footprint and then eventually achieving global scale."
TERMS OF THE AGREEMENT
The following are the material terms of the agreement between Loop and Casa Perks:
Loop will license the following Loop technology:
- AI Data Insights Portal;
- Smartapp Check-in technology;
- Digital Wallet Pass Technology
In exchange for the license, Loop will receive a total value of $1,930,000 USD in a combination of both:
- Cash $250,000
- Stock $1,680,000 (6,720,000 shares X $0.25/share)
Both parties have agreed to a 60-day closing period for a definitive agreement, the terms of which are subject to Loop Board of Directors Approval.
This Press Release Is Available On The Loop Insights Verified Forum On AGORACOM For Shareholder Discussion and Q&A at:
https://agoracom.com/ir/LoopInsights/forums/discussion
About CasaPerks: CasaPerks is changing the way people choose and enjoy apartments. The company is in the fast-growing property technology, or "proptech", sector serving the multifamily industry. Its multi-pronged platform includes an innovative rewards and concierge suite that offers multifamily owners and operators the opportunity to build tailor-made customer attraction, activation, and retention programs. CasaPerks is headquartered in Austin, TX. For more information, visit www.casaperks.com.
About Loop Insights: Loop Insights Inc. is a Vancouver-based Internet of Things ("IoT") technology company that delivers transformative artificial intelligence ("AI") automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop's products and services are backed by Amazon's Partner Network.
Forward-Looking Statements/Information:
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE LOOP Insights Inc.
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