News and Announcements
YuuZoo Expands From Master to Vertical Franchisees, Sells Sports Franchise for the United Kingdom
- Published November 13, 2015 10:10AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
12th November 2015, YuuZoo Corporation
- In order to increase focus of its franchisee operations, YuuZoo adds football franchisees to its franchise model
- Company sells a sports franchise for the UK for US$13.3 million
- Franchise agreement targets 5.4 million new users to be part of the YuuZoo platform within 36 months
Singapore Exchange listed YuuZoo Corporation Limited (“YuuZoo” SGX: AFC.SI), one of the world’s fastest growing third generation social e-commerce networks, has strengthened its presence in the United Kingdom by selling its first franchisee for the football sector. RM Powershot Challenge (“RPC”), a company with a firm foothold in football in the UK, has agreed to buy the UK sport franchise from YuuZoo in a share based deal valued at US$13.3 million. In line with YuuZoo’s revenue recognition policy, only half of this will initially be recognised, with the other half recognised if the franchisee reaches the agreed first 12 month targets.
The CEO of RPC, Sverker Siren has a strong track record of negotiating and signing deals with leading football clubs, monetising their fan base through mobile games. RPC already has agreements with 2015 EPL champion Chelsea FC, 2014 EPL champion Manchester City, 46-time Scottish champion Glasgow Celtic, 18-time England football champion Liverpool FC, and 12-time English FA Cup winner Arsenal FC. While the franchise initially will focus on the football segment, RPC also aims to expand into other sports such as cricket and rugby.
A key focus for the franchisee will be to sell the concept of “virtual clubhouses” to UK football clubs. In the virtual clubhouses fans can purchase fan merchandise, interact with other fans and club representatives, download and play games, share and view photos and videos, and where applicable, engage in online betting. The revenues from all these activities will be shared between the franchisee and YuuZoo.
To read the full announcement, please click here.
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