IMS (ASX) Ann: MBE Increases Shareholding in Award Winning Clipp

27 February 2017
ASX Release
Mobile Embrace Increases Shareholding in Award Winning Clipp App
Mobile commerce company Mobile Embrace Limited (ASX: MBE) (MBE or Company), today announced
that it has increased its shareholding in Clipp, a leading mobile payment and loyalty smartphone
application (App). Clipp’s advanced payment platform allows consumers to use their mobile phone to
purchase drinks and food directly from the App as it is integrated into the hospitality venues point of
sale (POS) system.
As announced to the ASX 10 June 2015, MBE acquired a 31% shareholding in Clipp from existing Clipp
shareholders through the issue of a combination of MBE shares and options. MBE has now acquired a
further 66% of Clipp for $550,000 in cash, taking MBE’s stake in Clipp to 97%.
MBE’s increased shareholding, to 97%, now allows the Company to exercise control over Clipp and set
the strategic direction to develop the business and take it to the next level. This control provides the
Company with a stronger platform to realise optimum value from its investment moving forward.
Clipp generated $4.3 million in gross revenue for the half year to 31 December 2016. In the 12 months
from January 2016 to January 2017 downloads of the Clipp App grew circa 70% to 218,000 and
registered users grew circa 53% to 104,000.
Clipp is currently integrated with the majority of the POS systems in Australia with further integrations
being pursued.
Chris Thorpe, CEO and Co-Founder at Mobile Embrace said: “Clipp targets the circa $38 billion hospitality
industry, providing many features to simplify and enhance both the venue and the payment experience
for the customer.
The benefits for the consumer are that it is a user friendly, safe, secure, simple and fast way to transact.
There are also many benefits for the venues. From a transactional perspective, it minimizes credit card
fraud, staff do not have to deal with transactions (estimated 30% overall payment time saving), it is fully
accountable and it can reduce the amount of cash held on premise. Clipp is also a compelling loyalty
platform that can show marked benefits for the venue. We have a number of exclusive Clipp-only venues
where the only way a tab can be set up is via the Clipp App.”
Clipp won App of the Year in Gizmodo Australia's 2014 Awards and won the “Greatest Potential Award”
at Tech23 2014.