By Telecom
Lead Team: Poynt has entered into a joint venture with China Youth League
affiliated entity, China Youth Goyor Technology (Beijing). This is part of the
company’s expansion into Asian market.
Poynt HK has
appointed David Wei Ren as CEO of China Youth Poynt.
Under the
joint venture, China Youth Goyor will focus on obtaining the Chinese Ministry
licenses required for conducting the business of China Youth Poynt, securing
data service agreements and preload agreements in China with major telecom
companies.
In addition,
the joint venture will focus on facilitating consumer usage of the Poynt mobile
platform in China among CYL’s over 83 million members.
As an initial
performance benchmark of the China JV, China Youth Goyor is to deliver at least
20 million active users in or around August 2012.
China Youth
Poynt anticipates as many as 60 percent of CYL’s membership may become active
users (approximately 50 million active users) of the China Youth Poynt
Platform.
“The
Chinese mobile market alone has been estimated at nearly 1 billion users – that
represents an enormous opportunity for Poynt Corp. as mobile users in China
convert to smartphones and discover the power of apps, and mobile local search
platforms in particular,” said Andrew Osis, CEO of Poynt.
Through the
China JV, Poynt HK and China Youth Goyor will deploy the China Youth Poynt
Platform initially in China. The China Youth Poynt Platform will be based on
the current Poynt local search platform.
However,
additional functionality, such as local news, video messaging, gaming, e-books,
and online novels, social networking services, and e-wallet solutions are being
considered for inclusion in the China Youth Poynt Platform.
China Youth
Poynt is also planning to enter into a number of China Youth Poynt
Platform-related agreements in China with data partners, telecom providers and
original device manufacturers to allow the China Youth Poynt Platform to reach
into China’s smartphone user population as a preloaded, subscription-based
model.
Recently, Poynt announced that Poynt mobile local search and advertising platform is available
on new and existing Samsung GALAXY Series devices including the GALAXY S II and
GALAXY Tab 10.1.
