Keek, Inc. (OTCQB: KEEKF) maintains a social media application that allows users to share 36-second video and texting capabilities. Currently, the company has around 75 million registered users of its social media platform. Shares of the social media company are sliding 17.93%, during early trading on Friday, December 2, 2016. Over the past three months, Keek, Inc., has seen average daily volume of 64,864 shares. However, nearly 127,010 shares or dollar volume of $119,643, has already exchanged hands through early trading Friday.
Keek, Inc. is seeing shares sell off, after the company entered into an agreement with Namaste Technologies, Inc. (OTC Pink: NXTTF) to use the social media company’s e-commerce platform. Namaste Technologies, Inc. is engaged in vaporizers and other smoking accessories. The vaping company will use Keek, Inc.’s Peeks platform to help expand its business and partnerships. Here is the full press release detailing of the partnership agreement:
Keek, Inc. Press Release:
TORONTO, ON–(Marketwired – December 01, 2016) – Keek, Inc. (TSX VENTURE: KEK) (KEEKF) is pleased to announce that it has entered into an agreement with Namaste Technologies Inc. (“Namaste”), the largest global e-commerce distributor of vaporizers and accessories. Namaste is establishing a channel on the Peeks platform and will receive exposure to Peeks’ global user base. The Peeks service directly aligns with Namaste’s global footprint and this partnership exemplifies what Peeks has to offer through channel partnerships.
Pursuant to the terms of the agreement, Namaste will receive a premium position within the upcoming discovery channel in the Peeks service. The discovery channel will showcase many media and e-commerce partners, along with popular user-generated content. These partners, such as Namaste, will be able to monetize their live and archived content by selling products and or services directly to their viewers. One of the many upcoming discovery channel categories to be launched in Peeks will focus on the legalized cannabis sector and will feature Namaste as a premier e-commerce partner within that channel.
This new channel will allow industry experts to voice opinions, answer live questions from viewers, and interconnect their product offerings directly through the Offer Box. The Offer Box allows viewers to make direct purchases from broadcasters and sponsors through non-disruptive and non-intrusive actionable incentives which do not interfere with a user’s enjoyment of live and recorded content.
“Namaste is the largest e-commerce distributor in what has to be acknowledged as one of the fastest growing industries in the world. We recognize each other’s enormous growth potential and thrilled to have Namaste on the Peeks platform as one of our new partners,” said Mark Itwaru, CEO of Keek Inc.