Mark Itwaru, CEO of Keek (KEEKF)(KEK.V) has a vision that he believes will change the landscape of the social media industry and will drive viral user base growth and superior ARPU (Average Revenue Per User) numbers to Peeks. Peeks is Itwaru's social commerce platform that is essentially 30% owned by Keek and 70% owned by his private company Personas. The archaic monetization model which relies heavily on ads has been intrusive for users on platforms like Facebook and YouTube. Users have reacted negatively to this attempt to monetize them as 70 million Americans, nearly a quarter of the browsing population in the United States, use ad blockers on either their home computers or mobile devices.
While monetization models and the consumer experience are usually at odds with each other on other social media platforms, Itwaru's vision for Peeks enables broadcasters to integrate ecommerce initiatives into their content in order to make a sale to their viewers. The initial step in this process was to let content generators and their fans to interact with each other through the real-time cash tipping mechanism. This tip jar concept has been proven successful by several other platforms that were using various forms of the idea prior to the release of Peeks and Itwaru is already happy with the ARPU numbers he is seeing throughout the early stages of the app.
Peeks' ecommerce solution referred to as the offer box will soon be available and promises to provide users with a powerful tool to monetize their own popularity. Itwaru believes that this concept of the broadcast advertising model will be far superior to the system generated ads of Facebook and Google and can also offer a more entertaining experience when compared to a home shopping network like QVC. Itwaru is confident that the marriage of social media and ecommerce will set a new standard for ARPU for social media companies.
Facebook is the Holy Grail of ARPU in the social media world with an annualized figure of around $16. Companies like Twitter and Snapchat have ARPU figures far lower than that. Peeks will offer a transactional and advertising model that is geared around its own proprietary payment processing system versus these social media rivals which only have advertising models. Along with the payment system, Peeks also owns all of its own data analytics, enabling it to stay one step ahead of its tip jar rivals that may also integrate their own ecommerce solutions into their platforms.
The user base in the United States has seen a significant spike in growth over the past few weeks which can be observed by looking at the amount and location of livestreams on Peeks at any given moment. Itwaru believes that the app is starting to go viral even before any active promotion and still with the same basic user interface it has had since its infancy because Peeks provides a sort of freedom of expression that is in line with millennial morality as opposed to the corporate feel of the incumbent social media platforms. Peeks is the "Las Vegas" destination for social media users as the company takes a liberal approach to freedom of speech and will only moderate content when legality comes into question. Once the new UI offers proper compartmentalization so that more controversial content can be easily segregated, Itwaru plans to appeal to large brands and sponsors that might have a more conservative view of the type of content they choose to associate with when advertising their products or promoting their entertainers.
Peeks will attempt to offer the best of all worlds. A place for big brands to advertise, a place for popular influencers to monetize themselves like they have never been able to before and a place for individuals to express themselves and earn a living at the same time. Itwaru has the vision and the drive to make it happen. All shareholders need is the patience and the risk tolerance to stay on the rollercoaster ride until he gets there.
Disclosure: I am/we are long KEEKF.
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