SinglePoint, Inc. (SING) provides mobile technology and marketing solutions that enable companies, nonprofits and religious organizations to conduct business transactions, accept donations, and engage in targeted communication via mobile devices. Through diversification of its own model, the company is also leveraging its core technology to expand into the mobile auctions and daily fantasy sports markets.
SING currently has two fundraising solutions. Text2Bid is an interactive way to increase auction revenues. The technology makes it easy for people to bid in auctions from any text or web-enabled phone. Donate by Text allows nonprofits to securely collect one-time or recurring donations via text. This capability creates a personal experience for the donors, and enables ongoing communication between the donor and nonprofit or event sponsor.
SING's payment solutions include point-of-sale (POS) terminals, loyalty programs, payment processing, phone services and financing. Pay by Text™ enables a business to accept payment transactions and, in essence, turns the user's mobile phone into a point-of-sale device. Operating on the same platform as mobile marketing, Pay by Text is designed to increase revenues, raise the average per-transaction amount, and create a fast, easy and hassle-free method of payment.
As part of its diversification and expansion strategy, SING recently acquired an interest in DraftFury (www.draftfury.com), a company that offers skill-based NBA, NFL and MLB daily fantasy sports (DFS) contests. DraftFury is known for its innovative offerings and originality, and is the first cash-flow-positive DFS enterprise. This transaction places SING in a multi-billion dollar industry expected to generate entry fees of $14.4 billion by 2020. Under the guidance of a leadership team well-versed in technology, engineering, marketing and raising capital, SING anticipates a strong foothold in its chosen markets.
- Diversified Business Model
Custom Solutions for Small to Mid-Size Businesses
Full-Service Mobile Technology and Marketing Provider
Innovative, Disruptive Payment Technologies
Aggressive Rollup M&A Initiative
Foothold in Multi-Billion Dollar Daily Fantasy Sports Market
Highly Unified, Qualified Management Team
Text2Bid makes auctions instantly interactive by placing the power to bid in the pocket of every participant. Gone are the days of writing down bids at the silent auction and wandering off never to return to bid again. With Text2Bid, bidders are notified when they're outbid, giving them the option to rebid while driving increased auction revenues.
Text2Bid eliminates the need to train bidders, as each auction participant brings their own tool (their mobile phone) to engage in the auction. Bidders simply need to text a keyword to 71760 to receive intuitive instructions that will guide them through the auction proceedings. Additionally, the bidder's phone number is stored, allowing auction organizers to easily notify bidders regarding activity on items in which they may have interest.
Automatic text notifications distributed to Text2Bid users include:
- Start of Auction
Outbid – Time to bid again
End of auction approaching
When auctions are concluded, Text2Bid serves as a database offering the contact information of auction participants to the auction's organizers. This opens the door for additional interaction, including offering chances to purchase unsold items, sending alerts regarding upcoming auctions or simply thanking bidders for participating in the auction.
Donate by Text
Donate by Text allows nonprofits to securely collect donations via text without the need to develop a costly app. Receiving mobile donations on any given day or in relation to an event is as easy as 1-2-3. First, the nonprofit invites people to text a specified keyword to 37284. Then, Donate by Text becomes an additional donation channel. Even if donors can't make it to a fundraising event, they can use Donate by Text to contribute to the nonprofit when and where it is most convenient. Finally, after receiving donations, organizers can use Donate by Text to continue communications with donors who have opted-in. This allows nonprofits to remain connected throughout the year while encouraging regular donations.
Additional benefits of Donate by Text for nonprofits include:
- Overnight funding
No need to develop a costly app
Donors information is uploaded directly to secure servers
Pay by Text™
Pay by Text™ puts the power of the purchase in the customer's hands. This fast, easy, and hassle-free mobile payment option allows customers to pay for items at trade shows, in a retail outlet, or on-the-go. The transaction takes place on the customer's mobile phone, which means they can pay anytime, anywhere. This means merchants can effectively sell their products anytime, anywhere.
Pay by Text lets customers exceed their cash budgets without disappearing into the crowd in search of an ATM. With no additional hardware or point of sale technology, Pay by Text increases the marketability of retail goods while driving revenue growth. Customers just need to text a keyword to 37284 to receive instructions on how to pay. They can even save their information, so, next time, they can pay with just a text and a click. Meanwhile, the funds are seamlessly deposited into the merchant's account.
In addition to offering an easier way to pay, Pay by Text allows merchants to stay connected with their customers. If customers decide to opt-in, merchants can quickly and easily send marketing reminders and incentives with just a mobile phone.
SingleSwipe (Coming Soon)
SingleSwipe enables customers to turn any device into a point of sale payment processor with the SingleSwipe card reader. Vendors can accept Visa, MasterCard, American Express, and Discover – anytime, anywhere – by simply plugging the SingleSwipe card reader into their Android devices.
Additional benefits of using SingleSwipe include:
- Customer information is encrypted the moment their cards are swiped
Funds from transactions are deposited within 24 hours
Account includes online payments and point of sale services
Connect by Text
Connect by Text helps businesses stay engaged with customers while enjoying a 99 percent open rate. The intuitive platform is a revenue generating machine, allowing businesses to reach consumers through text blasts that take less than three minutes to schedule and send. With Connect by Text, businesses can send coupons, updates, limited time offers and more, all while enjoying redemption rates that are roughly 10 times those of traditional mailers. When combined with SinglePoint's Pay by Text service, Connect by Text helps merchants start selling instantly.
Oomy Oomy helps companies take control of their delivery services. The platform enables tracking of drivers from the time they leave a business to the time they arrive, in real time.
SinglePoint's unique locational tracking technology lets businesses pull up a map and locate all of their drivers instantly in order to determine if they are en route and taking the proper directions. Additionally, Oomy gives an ETA of their arrival.
With Oomy, companies of all types can track and manage their fleet vehicles, drivers, and deliveries. Oomy increases business efficiency by providing best route options, mileage tracking and total delivery time, as well as alerting customers when delivery is within range so they can be prepared when it arrives. Oomy is built for businesses that already have a delivery component and are looking to improve communication, driver safety, and efficiency.
Daily Fantasy Sports
In May 2016, SinglePoint acquired an interest in DraftFury, a daily fantasy sports (DFS) enterprise that's widely recognized as the first cash flow positive company in the space. DraftFury currently offers skill-based daily fantasy contests for the NBA, NFL and MLB. Characterized by its innovative offerings, DraftFury is credited for its unique contests, such as the Fury Arena, which uses DraftFury's proprietary algorithm to match players of similar skill levels in order to ensure that even casual players have an enjoyable experience.
The DFS space has been a hotbed for investments from both venture capitalists and major media companies in recent years. Industry giants FanDuel and DraftKings each received investments in excess of $300 million over the past two years. Meanwhile, daily games generated roughly $2.6 billion in entry fees in 2015, according to data from Eilers Research, and this figure is expected to achieve a CAGR of 41 percent through 2020, climbing to $14.4 billion. SinglePoint's interest in DraftFury allows investors to get involved in the forecast growth of DFS.
"We feel DraftFury is going to be worth a lot of money. SinglePoint is the only publicly traded company in the U.S. markets I'm aware of that allows shareholders to be involved in the DFS realm." – CEO Greg Lambrecht
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Greg Lambrecht – CEO, Founder, President
As the CEO and founder of SinglePoint, Inc., Greg Lambrecht leads the company in its mission. He oversees all company operations, including investor relations, leadership of the board of directors, and daily business activities. Lambrecht has a successful track record of founding and leading start-up companies. As the founder of PCI, a leading consumer product distribution company, he negotiated agreements with the nation's largest retail outlets, such as 7-11 (Southland Corp), Albertson's, and Costco, representing 25,000 retail accounts. Lambrecht lead PCI through a NASDAQ listed IPO, raising $10 million. In 2006, he started LifeStyle Wireless, which he led to the OTC Pink Stock Market before changing the name to SinglePoint. Lambrecht is a graduate of Western Washington University with a degree in marketing and communications.
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Eric Lofdahl – Chief Technology Officer
Eric Lofdahl has over 20 years of experience in the technology sector, including positions in software development, program management, complex system integration, and engineering process definition. As SinglePoint CTO, he has led the definition and deployment of the company's mobile messaging, anti-spam, and content delivery products. Prior to that, Lofdahl worked at the Boeing Company, where he led a team that successfully developed advanced wireless and satellite data products based on commercial technology for the U.S. Air Force. Also at Boeing, he directed the teams that developed new products and capabilities for a number of military airplane programs, including the AWACS, F-22 and B-1B programs. Lofdahl holds a Bachelor of Science degree in electrical engineering from Iowa State University.
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Wil Ralston – VP of Sales and Marketing
Wil Ralston has a successful track record of building and maintaining great relationships with clients. Recognized as the top representative in his section by Nike, after college graduation Ralston chose to continue in sales with SinglePoint, where he has onboarded marquee clients such as GolfLogix and MonteFiore Inspired Medicine. Ralston graduated cum laude from the WP Carey School of Business at Arizona State University with a degree in global agribusiness and a specialization in professional golf management. He is currently recognized by the Professional Golfers Association of America (PGA) as a Class A Professional.
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Prasad Boddu – Director of Business Development
Prasad Boddu has over 18 years of strategy, marketing, sales and operational experience. He has built and led teams across multiple geographies, with 10 years of experience exclusively in leadership and mentor roles. He currently provides leadership and guidance to BN Infotec, Six Sigma Services, and Swift Pace Solutions. Boddu holds an MBA from IBAM, India and a Bachelor of Science in instrumentation from Andhra University, India. He is a certified Six Sigma Black Belt.
Board of Directors
SinglePoint's board of directors is composed of Greg Lambrecht, Eric Lofdahl, Prasad Boddu, and Gowri Shankar.
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Throughout his career in telecommunications, Gowri Shankar has focused on bringing new technologies to market and building multi-million dollar sales organizations. As a founding member of the Sprint PCS launch team, Shankar led the creation of the first nationwide telesales and e-commerce distribution channels in the wireless industry, thereby laying the foundation for Sprint PCS's industry-leading enterprise sales strategy. In addition to his work with Sprint, Shankar was general manager for eAssist, a CRM software company, where he developed eAssist's international strategy and was responsible for the organization's expansion into nine European countries. He holds a Bachelor of Science degree in accounting from the University of Madras and an MBA from the University of Missouri.
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