ALTAMONTE SPRINGS, Fla., May 17, 2013 /PRNewswire/ -- Vidaroo (OTCQB:VIDA) today announced that it has signed a revenue sharing agreement with Skynet Technology Group (www.mahala.us), a payment services company based in Atlanta that has developed a patented secure QR code payment system.
The agreement calls for a revenue sharing arrangement for both licensing and advertising revenue as well as additional payments for distribution and storage costs. The deal also calls for the partners to align distribution channel partners in conjunction with the product launch scheduled for this June.
"We believe the combination of content and this payment model will create a disruptive shift in the video delivery space and payment services," says Tom Moreland, Chairman and CEO of the Florida-based corporation. "We are currently in discussion with content providers who are attracted by the simplicity of the model that is presented to the consumer."
Moreland explains that the single click purchasing solution from Mahala allows Vidaroo to improve video user experience. The model encourages content partners with a high quality payment solution that allows consumers to experience video without interruption of the content delivery.
"I'm excited about partnering with Vidaroo," says Sonny Fisher, CEO of Mahala. "It makes sense to blend our unique payment system with a world class content delivery platform. Customers can now purchase directly from within the content, without being diverted to another site. The Mahala solution will revolutionize the monetization of digital content."
Vidaroo has been actively pursuing an aggressive direct marketing campaign to target faith-based organizations, academic education, corporate training, destination marketing, and sports-centered organizations. The company now offers incentives to encourage customers to try the company's cloud-based video publishing technology.
Vidaroo launched its Software-as-a-Service (SaaS) based online video player in 2009. Today it is moving forward as a feature-rich and intuitive video distribution and syndication platform. Among its unique capabilities are live-streaming, on-demand playback through channel creation, social media sharing and distribution, fully native ad rotation, and customizable player themes that are managed by self-service administrative controls. Billing and signup processes are fully automated. Video programs are installed with a simple one line "embed code" that can be easily applied to any website destination. Vidaroo's platform works well for both on-demand and enterprise use.
About Skynet Technology Group
Skynet Technology Group,Inc. is a privately held company specializing, through its Mahala application, in secure mobile payment solutions. Mahala was designed for merchants, content producers, non-profits and literally anyone who wants to accept electronic transactions without the need for card readers or transaction fees. Consumers simply scan Mahala's secure QR codes with their phones to complete transactions. The patent-pending S-QR™ technology enables payments without forcing consumers to go to a secondary site to pay. Retail technology expert Sonny Fisher, one of the youngest CEOs to list a company on the South African stock exchange, formed Mahala in Atlanta in 2012. For more information, visit www.mahala.us.
About Vidaroo (OTCQB:VIDA)
Vidaroo, Inc., (www.vidaroo.com) based in Altamonte Springs, FL, is the provider of an innovative cloud-based video distribution and syndication software platform. The company has been providing its SaaS solution for more than 3 years. Current Vidaroo customers come from various industries, including large churches, advertising agencies, media companies, academic educational institutions, and corporate training organizations. Among its past clients include national brands such as Microsoft, Coca-Cola Company, Tribune News Company, Toyota, Emmis Communications, Clear Channel, Black Eyed Peas, Justin Timberlake and others. Vidaroo's cloud-based video publishing technology enables its customers to easily create, deliver and monetize video and advertising delivery. For more information, visit http://vidaroo.com or contact Vidaroo by calling (321)293-3360.
Some of the above statements may be 'forward-looking' statements as defined by section 27A(c)(1)(A)(i) of the Securities Act of 1933. See http://vidaroo.com/about/investors/conduct for a full safe harbor disclosure statement.