LAS VEGAS, June 11, 2012 /PRNewswire/ -- Thwapr, Inc. (OTCBB: THWI), a mobile video sharing company, today announced that it has signed an agreement with IgMobile Holdings Sdn Bhd to be Thwapr's exclusive Channel Partner for Malaysia.
IgMobile Sdn Bhd is Malaysia's leading value added service provider for all of the country's wireless service operators. IgMobile is deeply integrated with all of the mobile network companies for immediate carrier billing and short code capabilities – IgMobile has complete coverage to bill every mobile user in Malaysia. In addition, IgMobile has unique print media relationships that provide an effective 80% target market penetration, which imparts the ability to create immediate and massive awareness.
The Malaysian wireless industry features 35 million mobile subscribers with a developed infrastructure; 4G network now encompasses over 70% of the country's populated areas. The online video sharing space is increasing with YouTube having launched a dedicated Malaysian service. And the mobile video advertising market is also growing, up 37% quarter over quarter, with Yahoo introducing new advertising products for Southeast Asia.
Under the agreement, Thwapr appoints IgMobile to be its exclusive Malaysia Channel Partner and to work together on a new product offering for Malaysian Mobile Carriers. Thwapr will provide its patent-pending technology and engineering to co-develop this new product; IgMobile will leverage its print distribution network, branding, and its sales force to market and promote the new product offering.
"Thwapr is not just an App company or a marketing technology company. Part of our undertaking is going local to look for every monetization opportunity for our patent-pending technology. We want to be the de facto company when it comes to mobile video sharing; in fact, we want to be the engine that powers mobile video sharing in every social platform. To reach our goal, we are executing our Channel Partner strategy to provide us a structure to capitalize in a diversified marketplace," said Ron Singh, CEO of Thwapr. "We chose Malaysia as our first entry because of IgMobile and a series of other strategic factors. IgMobile is an extremely valuable Channel Partner, and we are very excited to be able to tap into their local expertise and network to establish an immediate execution opportunity with all the Mobile Carriers in Malaysia."
"We are thrilled to be working with Thwapr. This opportunity allows us to elevate our ability to offer innovative products and services to increase our revenue channel with the Carriers here," expressed Tai Shih Chua, CEO of IgMobile.
About Thwapr, Inc.
Thwapr is a mobile video sharing platform company that has engineered a proprietary technology to deliver the best possible mobile video quality and user experience regardless of device, network or carrier. Thwapr's seamless device agnostic process empowers users to socialize video content, and provides a solution to monetize the mobile community. Founded by digital video pioneers from Apple, Avid and MTV, Thwapr's patent-pending technology allows brands and marketers a new visual communication channel to engage the hundreds of millions of consumers with Web-enabled mobile devices. Visit us at www.thwapr.com, follow us at www.twitter.com/thwapr or Like us on Facebook www.facebook.com/thwapr.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new products and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in Thwapr's annual report on Form 10-K for the most recent fiscal year, Thwapr's quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Investor Relations:
Michael Irving
Paramount Advisors, LLC
407-878-5462
[email protected]
SOURCE Thwapr, Inc.
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