NEW YORK, Dec. 8, 2014 (GLOBE NEWSWIRE) -- Yappn Corp. ("Yappn" or "Company") (OTCQB:YPPN) a leader in real-time language technology, today announced that it has signed a Memorandum of Understanding (MOU) with Munich based Fanorakel ( www.fanorakel.de ), Germany's largest social media network for German Football fans. Fanorakel creates unique social content, interactive user platforms and applications that create engagement for fans prior, during and post matches, creating engagement across the entire Football Fan experience over mobile, web and Smart TV programming.
The parties have initially agreed to a revenue share program, with opportunities, based on the execution of a definitive agreement to enter an equity based Joint Venture program between TranzActive, a division of Intertainment Media Inc., Yappn Corp. and Fanorakel. The scope of the Agreement would be to expand offerings across both the global Football / Soccer market and other leading professional sports opportunities through both Fanorakel and Fan Oracle.
Initially, Fanorakel and Yappn have agreed to provide the currently native Fanorakel German experience in other languages, beginning with English, as Fanorakel looks to expand its offerings globally. This phase of the program is expected to launch by end of February 2015. The parties will also look to expand Fanorakel's global social engagement through Yappn programs like FotoYapp.
"We are very pleased to have the opportunity to increase our reach and further grow our business opportunities by adding the ability to provide our content and services in multiple languages with Yappn," state Franz Dillitzer, CEO of Fanorakel. "Fanorakel is the leading social network for German Football fans and our goal is to grow our offerings and revenues to reach the global market. Our agreement with Yappn allows us to do so efficiently and effectively."
According to Sporteology, Football / Soccer has an estimated 3.3 to 3.5 Billion global fans. The "Beautiful Game" is played by approximately 250 million people in over 200 countries, making it the world's most popular sport. Forbes has stated that the 2014 World Cup generated an estimated $4 Billion USD in revenue, mostly through marketing and television rights. According to Huffington Post, the 2014 World Cup attracted more than 3 Billion social interactions on Facebook and am estimated 672 million Tweets on Twitter.
"Yappn is focused on servicing global enterprises that create Multilanguage revenue opportunities. Fanorakel's focus on Football is an excellent partnership, as it allows Yappn to reach the world's most popular sport," stated David Lucatch, Founder and CEO of Yappn.
About Yappn
Yappn is a real-time multilingual company that amplifies brand messaging, helps conduct commerce and provides customer support by globalizing these experiences with its proprietary approach to language. Through its real-time multilingual amplification platform, Yappn eliminates the language barrier, allowing the free flow of communications in 67 languages. Yappn has developed cost effective, unique and proprietary technology tools and services that create dynamic solutions that enhance a brand's messaging, media, e-commerce and support platforms.
In addition to Yappn, FotoYapp ( www.fotoyapp.com ) provides consumers, brands and Influencers with the ability to share media content (images, video, audio, etc.) instantly across the global social sphere with all major social posts in a single environment in almost any language allowing global participants to interact with each other, regardless of their native tongue.
Yappn Corp. is traded publicly in the U.S. on the OTCQB – symbol "YPPN" and leading technology incubator; Intertainment Media Inc. (TSX-V: INT ) (US:ITMTF) (FRA:I4T) has a controlling interest in Yappn Corp.
For more information, please visit http://www.yappn.com
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Forward Looking Information
Legal Notice and Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions, are "forward-looking statements." Although Yappn Corp.'s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC including the Current Report on Form 8-K filed on April 3, 2013 and each subsequently filed Quarterly Report on Form 10-Q and Current Report on Form 8-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.
David Lucatch, Founder and CEO,Yappn Corp.
