Tag: mobile marketing news

Popular Hipcricket mobile marketing firm files for bankruptcy

The company’s assets have now been acquired for $4.5 million by SITO mobile.

Recent reports have shown that the Bellevue, Washington based mobile marketing company, Hipcricket, has now filed for bankruptcy as an independent company and that SITO Mobile has now acquired its assets for $4.5 million.

Hipcricket filed for bankruptcy protection, last week, despite its 21 U.S. patents and $26.7 million in annual revenues.

SITO Mobile was quick to recognize the opportunity and acquired all of the mobile marketing firm’s assets. According to its CEO, Jerry Hug, “Consistent with our goal to accelerate our growth, if completed, the acquisition of Hipcricket will bolster our services and solutions and increase our revenue from a customer base which would then include 38 of the Fortune 100 companies.”

The Hipcricket mobile marketing company’s press release announced that acquisition was its best direction.

Mobile Marketing - Time is UpIn the release the CEO of Hipcricket, Todd Wilson, explained that selling its assets in a court-approved agreement was “the most viable option to protect our human capital and maximize recovery for our stakeholders.” Filing for bankruptcy was a decision that the company made in order to “facilitate the sale”.

The press release explained that throughout the process of filing for Chapter 11, as well as during the acquisition process, Hipcricket believes that its typical daily operations will remain the same, subject to the “first day” motions approval by the Court. Hipcricket is also working to obtain approval from the Court in order to be able to keep up its current payroll and benefits program, in addition to maintaining the cash management system that is already in place. It wants to be able to keep up its typical daily business activities.

To make it possible for the company to keep up those operations throughout the acquisition period, the press release explained that SITO Mobile has agreed to provide debtor-in-possession (DIP) financing of up to $3.4 million to Hipcricket. All of this, of course, is subject to court approval, but at the time of the writing of this article, those were the intentions of the two companies that are involved in this acquisition.

Tapit teams with Chinese mobile commerce firm

Tapit to promote NFC technology in China with the help of 99 Wuxian

Tapit Media, an Australian company specializing in NFC technology, has announced that it has formed a partnership with 99 Wuxian, a mobile commerce company based in China. Together, the two companies aim to revolutionize China’s mobile commerce scene through the use of interactive marketing campaigns that leverage NFC technology. This technology will make marketing campaigns more interactive and may go a long way in effectively engaging the growing number of mobile consumers in the country.

NFC is becoming more popular as a form of interactive marketing for mobile consumers

NFC is typically used in mobile commerce, but it has seen some action in marketing. As consumers become more mobile, they are beginning to respond more to interactive marketing rather than traditional marketing. Interactive campaigns have proven to be more effective at engaging mobile consumers because they offer some form of dynamic engagement, even if this engagement only takes the form of scanning a barcode.

99 Wuxian to incorporate NFC technology from Tapit into its business offerings

Mobile Commerce Partnership - NFCThe Chinese mobile commerce firm believes that NFC technology is the next evolution of QR codes. The firm will be using the technology developed by Tapit for its various services, which nine out of 10 Chinese banks currently use. The joint venture between 99 Wuxian and Tapit is expected to bring NFC technology to the forefront of China’s evolving commerce sector. It may also increase the value of NFC-enabled mobile devices, which are still relatively rare in the global market. The growing demand for mobile commerce services has made such devices more attractive.

NFC is losing ground in the mobile field because of concerns regarding security

NFC has been losing support in the mobile field because of security concerns recently. These concerns are largely found within the mobile commerce space, where a massive amount of financial information is being trafficked between businesses and consumers. The technology stills forms much of the mobile payments infrastructure, but some companies are looking for alternatives to NFC that they perceive as more secure.