SAN DIEGO, June 13, 2018 /PRNewswire/ -- Watch Out! Inc. is pleased to announce the acquisition of BitWall Co. (BitWall), an innovator in cryptocurrency micropayments and Social Currency. BitWall is primarily known for launching a first-of-its-kind Bitcoin and Twitter-powered paywall with the Chicago Sun-Times, one of the 10 largest U.S. newspapers.
This acquisition of BitWall allows Watch Out!® to further bolster its efforts in crypto-enabled payment mechanisms and additional blockchain-based innovations. Additionally, with BitWall's strategic connections in the digital news industry, coupled with innovations in digital rewards, this acquisition will provide new capabilities in consumer data analytics and loyalty. BitWall investors include Boost VC, AngelPad, Tim Draper, the Boost Bitcoin Fund, and a syndicate of angels via AngelList.
Quote from Nic Meliones, CEO of BitWall:
"We are thrilled to be joining Watch Out!'s mission to power consumer safety. Their innovative technology, data systems, and content solutions are focused on improving the lives of their consumers. The scope of Watch Out!'s potential reach is incredible. They have been a great partner to BitWall, and we are excited for the next chapter."
About Watch Out!®
Watch Out!® saves lives by providing real-time, critical information to protect people. By keeping people safe and informed, brands and businesses have enhanced channels to securely engage with and reward their consumers. With the rise of dangerous recalls - ranging from automotive, to food, pharmaceutical, and more - consumers need one platform that watches out for them. Watch Out!® keeps them safe while delivering a unique loyalty experience.
Michael Lucas, the CEO of Watch Out!®, is a veteran in the automotive and track-and-trace world. In 2017, two of the brands in the automotive industry - Trademotion and Parts.com - were acquired by industry giant, Reynolds & Reynolds. Additionally, Lucas was the founder and former CEO of Frequentz, a serialization company in the food and pharmaceutical industries, which was acquired in late 2017 by RfXcel.
Further investment in blockchain technology opens the door for enhancements in Watch Out!®'s consumer protection and rewards systems.
Quote from Michael about the acquisition:
"We are excited to bring BitWall into the Watch Out! ecosystem. Our mission is to provide a secure consumer-protection platform while delivering hyper-targeted content when and where it matters most, whether that be a safety alert or a digital reward. BitWall and its team help us do that."
Watch Out!, Inc.
Watch Out!® provides immediate recall and safety notifications to consumers. The Watch Out!® platform supports mutual benefit for consumers and retailers. By keeping their consumers safe and informed, brands and businesses have enhanced channels to engage with and delight their consumers. This is Watch Out!®'s second acquisition of the year. Along with the acquisition of intellectual property required to strategically expand and protect Watch Out!®'s technological capabilities, the company is undertaking significant steps to leverage blockchain technologies to further its mission.
BitWall is a bitcoin micropayment, loyalty, and rewards company based in San Francisco, CA. It powers consumer retention through innovative, alternative style of reward systems, such as "social currency". BitWall pioneered bitcoin micropayments for the digital news ecosystem. BitWall launched a first-of-its-kind Bitcoin and Twitter-powered paywall with the Chicago Sun-Times, one of the 10 largest newspapers in the U.S. BitWall is backed by Boost VC, AngelPad, Tim Draper, the Boost Bitcoin Fund, and a syndicate of angels via AngelList.
SOURCE Watch Out! Inc.