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YuuZoo eyes Mexico with new franchise deal
SOCIAL e-commerce firm YuuZoo has inked a new franchise agreement with a Mexican digital entertainment agency with the goal of incorporating YuuZoo's payment platform, YuuPay, into the online stores run by the agency's clients, it said in a Singapore Exchange filing on Thursday after the market closed.
This deal with Media Rock would give YuuZoo access to "Mexico's 120 million population and 34.4 million gamers", it added.
It said Media Rock's lead client was Busca Corp which owns Latin American online video game site www.levelup.com.
"Annual online transactions in Mexico's video game market top US$200 million per year, with Busca the leading player," YuuZoo said.
It added that its immediate next step would be to offer YuuZoo's social e-commerce platform in Mexico.
The revenues generated from advertising, e-commerce, gaming and payments will be shared between YuuZoo and Media Rock, under the business model used by all YuuZoo franchisees, YuuZoo said.
YuuZoo shares finished flat at S$0.22 on Thursday before the announcement.