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Global Consortium, Master Agency Provider Sign Pact

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Global Consortium, Master Agency Provider Sign Pact

 
December 02, 2014

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  By Rory J. Thompson, Web Editor
 


As anyone who has ever worked with a Master Agent will attest, it’s worth it to have someone on your side to do the general business management to assure you get the best possible deal for the money.

So it was more than likely with that in mind that Digital Widget Factory (DWF), a private global consortium that manages online user engagement for client programs in Asia, Europe, Central and South America, just signed on with Yappn, a company that’s a leader in real-time language technology.


The deal calls for Yappn to “…execute the development, management and maintenance of a minimum of 200 multilingual Ecommerce and other revenue-based Web sites, each optimized for mobile, portable and web consumers,” on behalf of DWF, according to a company statement.

The deal, officially titled a “Master Services Agreement and Scope of Work” pact, will span three years.

"This is a landmark agreement for the company as we continue to execute on our revenue strategy, leveraging the natural migration of businesses toward expansion of Ecommerce well beyond traditional domestic markets," said David Lucatch, Yappn founder and CEO. "We empower brands to globalize their offerings and build larger market shares by efficiently navigating the language barrier in real-time. We believe this agreement will provide the foundation for building long-term shareholder value."

Yappn says it believes the deal will generate revenue up to $3 million in 2015. As part of the agreement, Yappn is contracted to to produce an additional 400 multilingual Ecommerce and other revenue sites in 2016 and up to 525 additional sites in 2017. “Contract execution terms include advance project pre-paid fees of a minimum of $250,000 to the Company in addition to 20 percent of the net profit on the program for the duration of the term,” the company noted.




Edited by Maurice Nagle
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