IRVINE, CA--(Marketwired - Oct 4, 2013) - Ubiquity Broadcasting Corporation ( OTCQB : UBIQ ) announced it has acquired certain assets of the Think Mobile, dba GiftSender™ business, including intellectual property, customer relationships, inventory, etc. in a cash and stock transaction as disclosed in its most recent 8-K SEC filing.
GiftSender™ is an iOS and Android app that lets people purchase, send, redeem, or swap a gift card or money on a mobile device. Version 1.0 is available today in both the App Store and on Google Play, with the full-featured version launching on November 1st in time for holiday giving.
Gift cards and mobile payments are a fast growing market segment. In 2012 over $100 billion was spent on gift cards in the US. Mobile gift cards offer significant benefits over the old plastic cards. They can be saved in a "wallet" on the owner's mobile device, they can display real time balance information, and they can be bought and sent without having to travel to a physical location like a grocery store to make the purchase.
"The acquisition of GiftSender™ not only helps us to productize an important part of our patent portfolio, but it also accelerates our goal to become a leader in the $110 billion gift card marketplace. Our marketing expertise will allow us to take GiftSender™ to the next level. In addition, the expertise of the Think Mobile team will allow us to futher develop more of our intellectual property," said Chris Carmichael, Chairman and CEO of Ubiquity.
In addition to the more than 100 retailer and restaurant gift cards, including American Eagle, Bath & Body Works, Brookstone, Fandango, Foot Locker, Old Navy, Papa Johns, Timberland, Barnes & Noble, Travelocity, Zappos and Babies R Us, GiftSender™ will be introducing a number of innovative new features in version 2.0 that differentiate its gift cards from most other mobile gift card apps including GiftSender™ Bucks and "Regifting."
GiftSender™ Bucks are the same as cash and can be redeemed by converting them into gift cards at any time. GiftSender™ Bucks are a powerful option when the sender wants to give the recipient the flexibility to pick their own gift. In addition, the recipient of GiftSender™ Bucks has the ability to redeem them for exactly the amount of a transaction -- if the user wants to make a purchase of $23.67 they no longer need to purchase a $25 gift card, as they do in other mobile gift card apps, and then get stuck with a $1.33 balance that they will never use. This solves one of the major pain points of gift card usage, not only for the recipients, but also for the issuers who have to carry any unredeemed amount as a liability on their balance sheets. GiftSender™ also lets users "regift" a gift card that they receive by forwarding it, as new, to someone else. There are several additional features that will be launching with the new version.
Carlos Orellana, Founder and CEO of Think Mobile, said that, "This acquisition reflects GiftSender's continued maturation and growth as a business, and allows us to create real value for our customers. The resources of Ubiquity will allow us to more efficiently enhance our product, and introduce new features much faster. In addition the Ubiquity patent portfolio around mobile gift cards, mobile payments, and mobile coupons will help strengthen our position in the market. With the coming release of GifSender™ 2.0 our new feature set will allow us to deliver tremendous new value to our consumers, and greater marketing opportunities for our business partners."
For more information about GiftSender™, visit giftsender.com. For more information on the transaction, please see the Company's latest 8-K SEC filing.
Safe Harbor and Informational Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. This document includes "forward-looking statements" within the meaning of the securities laws. The words "may," "could," "should," "estimate," "project," "forecast," "intend," "expect," "anticipate," "believe," "target," "plan," "providing guidance" and similar expressions are intended to identify information that is not historical in nature.
This document contains forward-looking statements relating to the transactions between Ubiquity Broadcasting Corporation ( OTCQB : UBIQ ) and ThinkMobile. All statements, other than historical facts, including, but not limited to: the expected benefits of the transaction such as improved operations, growth potential, market profile, the competitive ability and position of Ubiquity Broadcasting Corporation (or the "Company") and any assumptions underlying any of the foregoing, are forward-looking statements. Such statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. You should not place undue reliance on such statements. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, factors as detailed from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including Ubiquity Broadcasting Corporation's Annual Reports on Form 10-K for the year ended December 31, 2012, and Quarterly Reports on Form 10-Q for the quarter ended June 30, 2013, and in other materials that have been filed by Ubiquity Broadcasting Corporation in connection with the asset purchase, which are available on the SEC's web site (www.sec.gov).
All forward-looking statements contained in this document and the documents referenced herein are made only as of the date of the document in which they are contained, Ubiquity Broadcasting Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
About Ubiquity Broadcasting Corporation
Based in Irvine, California, Ubiquity Broadcasting Corporation is an emerging broadcasting & media technologies company, that owns a portfolio of intellectual property relating to Internet, Social Media and Cloud-Based applications, where it also owns and operates an in-house, state-of-the-art production facility.
For more information go to www.ubiquitycorp.com.
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