Toronto, ON – RIWI Corp. (TSXV: RIWI) (OTC: RWCRF) (the “Company” or “RIWI”), a global trend-tracking and prediction technology firm, is pleased to announce that it has signed a new contract to conduct surveys and automated data analytics on behalf of an information technology consortium, an existing client. The total contract value to RIWI is $1 million CAD for work conducted over a period of 12 months.
“This new contract is a testament to our commitment to customer service excellence, continuous improvement, and ongoing innovation to meet the evolving data needs of our clients,” said Greg Wong, RIWI’s Chief Executive Officer. “Long-term revenues of this kind help RIWI to invest in new data product innovations that help us scale through a healthy mix of project-based revenues, recurring revenues – and transactional revenues,” Mr. Wong added.
Transactional revenue refers to the revenue arising from the Company’s recent acquisition of Research on Mobile (“ROM”), and is generated every time the ROM system matches a survey respondent to an active survey commissioned on one of the global research marketplaces or to a direct end customer and the respondent completes the survey. Project-based revenue is the traditional RIWI revenue where customers purchase RIWI data to do a specific survey or digital message test in one or more countries. Recurring revenue is revenue where a customer subscribes to either the RIWI platform or to one of its data products, such as the Compass data series.
RIWI is a global trend-tracking and prediction technology firm. On a monthly or annual subscription basis, RIWI offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests in all countries – without collecting any personally identifiable data. https://riwi.com
Signed: “Greg Wong”
Greg Wong, Chief Executive Officer
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Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and RIWI does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of the Company’s expectations or beliefs regarding future events. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.