TX-based Perk.com reported total revenue increased by 155% year-on-year (YOY) to $17.7 million for the fourth quarter (4Q/15). Gross profit was $9.1 million, rising 51% YOY.
The Perk.com fourth quarter was incredibly busy period.
The Company partnered with NBC Universal to promote the launch of the Esquire Network’s first scripted series, which resulted in a 10% increase in viewership for the Network.
In November, the Company expanded its reward platform with the acquisition of SuperRewards, an innovator in alternative payments and virtual rewards.
In December, the Company closed the acquisition of Corona Labs, an established platform for mobile app development which accelerated the distribution of Perk’s SDK to third party developers. Total consideration for Corona was $2.2 million.
In December 2015, the Company entered an asset purchase agreement to acquire the Viggle App, and its related assets which include intellectual property (including Viggle brand and name as well as patents in the rewards category), brand and advertiser relationships, and a direct sales team.
On February 8, 2016, the Company completed the Viggle Acquisition. Consideration paid for the acquisition, pursuant to the asset purchase agreement was $1.0 million of cash and 1,370,000 of Perk Shares valued at approximately $3.7 million.
On November 25, the Company acquired Playerize Networks, the creator of SuperRewards a worldwide direct payment network and performance advertising platform that provides developers with monetization opportunities while delivering brands to consumers. Total consideration for the acquisition was $1.6 million.
On September 21, 2015, Perk acquired 100% of AppRedeem, a San Francisco based innovator in rewarded video for mobile devices. Total consideration for the acquisition was 831,601 Perk Shares, valued at $2.6 million.
4Q/14: $6.9 million
3Q/15: $13.3 million
4Q/15: $17.7 million
4Q/14: $3.0 million
3Q/15: ($0.9 million)
4Q/15: $9.1 million
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