Market expansion part of Company's overall diversification plan
VANCOUVER, BC, Feb. 24, 2021 /CNW/ -- Hello Pal International Inc. ("Hello Pal" or the "Company") (CSE: HP) ( Frankfurt: 27H) (OTC: HLLPF), a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce the commencement of marketing operations for its livestreaming services in the Middle East market, with a focus on the United Arab Emirates, Saudi Arabia, Egypt and Bahrain.
After having consistently achieved monthly revenues of over CAD 2 million over the past several months, and following the arrival earlier last year of industry veteran Vincent Chai as Senior Vice President of Operations, the Company has started to focus on expanding its revenue sources to markets other than the China livestreaming market.
The Company has already begun to work with several key partners to begin this expansion, including those with an established network of livestreaming hosts in the Middle East countries such as the United Arab Emirates, Saudi Arabia, Egypt and Bahrain. Such partners will help bring in a diverse community of livestreaming hosts and provide livestream content on Hello Pal that caters to the Arabic-speaking world.
In tandem, the Company has also been working with other key partners with an established userbase in the Middle East to ensure quality generation of user traffic to Hello Pal to consume the livestream content. This expansion presents exciting growth prospects for the Company as the Middle Eastern market is a proven market for livestreaming content, yet is relatively still in its infancy.
The Company has already been testing the Middle East market over the past several months, and initial results have been more than encouraging. Notably, largely due to the Middle East efforts, non-China revenue now accounts for 10% of its total revenue, having increased from 6.5% the previous month, and 3% from November 2020.
Having now completed the preparatory stage of its expansion plan, the Company is preparing to take it to the next level through a strong marketing push with key partners.
"All key indicators such as number of daily livestream hosts and total number of livestreaming minutes have not only been steadily increasing, but we've also been seeing an acceleration of this growth in recent weeks," said Mr. Chai. "With the proven strength of our team, as well as the initial signs so far, we feel confident that we will see a similar growth and success in this market as we have been seeing in the China market."
"The overseas expansion is firmly in line with our mission to bring the world closer together," said KL Wong, Founder and Chairman of Hello Pal. "As we expand to new territories, our new initiatives in the cryptocurrency space is also designed to help us achieve our mission more effectively, given the borderless nature of cryptocurrency."
To download Hello Pal please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: email@example.com.
About the Hello Pal Platform
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's annual and interim financial statements available on www.sedar.com. Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
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Hello Pal International