Yippy, Inc. (OTCMKTS: YIPI) ("Yippy" or the "Company") announced that it will support Globalstar, Inc.'s (NYSE-MKT: GSAT) ("Globalstar") initiative for the immediate marketing of compression software and intranet data services. Yippy's innovative software platform features advanced data compression technology that significantly decreases webpage load times for internet access and intranet document retrieval. This technology will be made available to millions of existing subscribers for Mobile (MSS) and Fixed (FSS) Satellite Services operators.
Yippy recently completed the production level environment for Globalstar's Generation 2 network and exceeded performance requirements. Subsequently, Yippy presented a plan to the executives of Globalstar which proposed top line growth for both organizations as a result of the distribution of Yippy's software offerings to other service providers and their subscribers worldwide.
"Globalstar and Yippy are entering into another chapter of our relationship," stated Jay Monroe, CEO, Globalstar. "The rollout of this effort has been a major initiative for our satellite operations teams and last year we provided the service on a trial basis. After months of rigorous testing, we have concluded that Yippy's platform provides subscribers with a greatly enhanced data service experience. Additionally, we believe that the technology can be used by operators throughout the satellite industry and we look forward to working with other providers to integrate this technology into their respective platforms."
Recently, Globalstar and Yippy amended the original December 2015 Access Agreement and Securities Agreement that, among other things, included the increase of Yippy's revenue per subscriber by 33% for Globalstar subscribers. The subscription will be offered to all Globalstar Duplex subscribers and will be available for other satellite operators. For these other service providers and their subscribers, Globalstar will pay Yippy 50% of all revenue for the use of Yippy's software technologies. Yippy will pay to Globalstar 30% of the gross margin on the sale of Yippy hardware or for Yippy development services in connection with imbedding Yippy services in other MSS and FSS networks.
"We look forward to providing our Duplex subscribers with an enhanced data service while also enabling other satellite carriers to substantially increase the number and usability of data sessions as subscribers access the web. We have proven that the compression platform materially reduces vital overhead allowing for an enhanced quality of service," commented Jake Rembert, Vice President of US Sales, Globalstar.
"Satellite bandwidth is a finite asset, and most satellite providers have an immediate need to reduce bandwidth overhead per subscriber across their networks. Our compression technology does just that, and is production ready for immediate consumption," stated Richard Granville, CEO, Yippy. He continued, "The typical internet website page downstream has now ballooned to more than 3MB and continues to rise, and satellite executives could not have forecast the substantial increase in concurrent user bandwidth utilization. Even with the launch of enhanced satellites with expanded capacity, we believe compression will prove to be a vital asset to help meet subscriber usage demands. This is not only true of commercial operators, but also government and military satellite networks."
About Yippy, Inc.
Based in Atlanta, GA, Yippy, Inc. is a technology company that specializes in the development of search-based applications, data normalization, compression/optimization and aggregation through enterprise application (app) service environments (EASE). Yippy's proprietary product suites are deployed to provide secure, redundant and maintained data services. The Company also provides the most advanced search appliance and is the best alternative for those seeking a replacement for the Google Search Appliance (GSA). The Company also operates several online internet properties and educational reference portals. Investors can find current financial disclosure for the Company at http://www.otcmarkets.com/stock/YIPI/filings.
The information contained herein includes forward-looking statements. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Additional information on risks and other factors that may affect the business and financial results of Yippy, Inc. can be found in the filings of Yippy, Inc. on OTC Markets (www.otcmarkets.com).
SOURCE Yippy, Inc.