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Quepasa Introduces Virtual Gifting and Virtual Currency Strategy Using QDollars and QPoints

^{Published on 2009-09-22 13:22:11 - Market Wire}
 

Quepasa Introduces Virtual Gifting and Virtual Currency Strategy Using QDollars and QPoints

WEST PALM BEACH, Fla., Sept. 22 /PRNewswire-FirstCall/ -- Quepasa Corporation (Pink Sheets: QPSA), one of the world's fastest-growing Latino social networks, today announced the release of its virtual currency, QDollars and QPoints, to be used for virtual gifting across the popular social networking site. Quepasa users can now buy QDollars or earn QPoints on the site and use that currency to send a broad range of virtual gifts from the Quepasa storefront. "Quepasa.com is about self-expression and we wanted to facilitate our users' interest in communicating with friends by offering them a unique selection of both premium and standard virtual gifts," says Quepasa's CEO, John Abbott.

Over the next several months, Quepasa plans to expand the uses of the virtual currency with more premium gifts, payment methods and applications that can facilitate virtual gifting among Quepasa's user base. Abbott adds, "The goal of the virtual economy is to expand it across all of the active communities, games and features of Quepasa. Today, our users can send each other virtual gifts and they can use virtual gifts as part of the competition in our Playboy Latino community. Over time, they will be able to leverage virtual gifting as part of a broader social gaming and premium services strategy envisioned by Quepasa."

Seeing the tremendous revenue potential of other virtual gifting and social gaming companies and the engagement and site traffic that these applications can drive, Quepasa intends to deliver a unique set of virtual items and applications targeted to their Latino user base. We believe that these new features on Quepasa.com will help continue to drive the growth of the business.

As part of this strategy, Quepasa also announces its partnership with leading virtual economy data platform provider, Twofish, a Live Gamer company. The company was selected from several vendors as the platform of choice to power the virtual economy for Quepasa.com. "We felt that they had the most robust feature set and the easiest implementation for our global virtual economy. It will allow us to easily scale up to handle multiple currencies from several application providers and give us broader coverage with various payment providers across our growing Latin American user base," notes Steve Kaplan, VP of Product Management for Quepasa.

Live Gamer President and Co-Founder, Andrew Schneider adds, "We are pleased that our total commerce solution has been selected to power Quepasa's virtual economy. They have a very ambitious and comprehensive strategy for deploying virtual currency-driven applications and the Live Gamer platform will help Quepasa optimize revenues while offering users a compelling virtual shopping and gifting experience."

The release of Quepasa's virtual currency is the latest news in Quepasa's growing success story. Since its launch as a social network focused on the growing Latino population just over 15 months ago, Quepasa has seen its user base grow to close to five million registered users. This number continues to grow at an impressive pace because of Quepasa's differentiated strategy of premium Latino content and entertainment. To date, this growth has been achieved solely through the viral acquisition, powered by Quepasa's user base.

About Quepasa Corporation

Quepasa Corporation, headquartered in West Palm Beach, FL with offices in Los Angeles, CA; Sao Paulo, Brazil; Scottsdale, AZ; Miami, FL; and Hermosillo, MX, owns Quepasa.com (www.Quepasa.com), one of the world's largest, trilingual, Latino social networks. Quepasa.com is an authentic Latino community that provides fun, interactive, and easy to use social tools, and rich multimedia content in English, Spanish and Portuguese to embrace Latinos everywhere, and empower them to connect online, compete in contests and games and share their interests, ideas, and activities.

Safe Harbor

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"") including those relating to our plan to expand the uses of virtual currency, potential revenue from virtual gifting, our intention to deliver a unique set of virtual items, our belief that the new features on Quepasa.com will help continue to drive growth, the potential of Live Gamer to optimize revenues and the continued growth of our registered user base. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include changes in the public's approach to social network needs, global economic conditions and the continued slump in the capital and credit markets. Further information on Quepasa's risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 2008. Quepasa does not undertake any duty nor does it intend to update the results of these forward-looking statements.

 Contact: Mike Matte, Chief Financial Officer Quepasa Corporation (561) 491-4186