Bitzio, Inc. Completes Second Acquisition
Continues on Its Aggressive Strategy to Acquire Smartphone Application Businesses
(firmenpresse) - SAN DIEGO, CALIFORNIA -- (Marketwire) -- 07/14/11 -- Bitzio, Inc. (OTCBB: BTZO) today announced that it has entered into an agreement to acquire a developer of niche mobile applications for smartphones.
Bitzio Corp., a company separate and distinct from Bitzio, Inc., has been acquired by Bitzio, Inc. Bitzio Corp. has developed over 140 mobile applications in unique vertical markets with over 650,000 downloads in total and is in the process of developing 4,000 additional mobile applications. Bitzio Corp. was founded by Amish Shah in November 2010 and generated application download revenue in its first month of operation.
Shah is considered one of North America's foremost leaders and experts in the emerging mobile applications space. In addition to his mobile applications business, he has consulted for various blue chip and Fortune 500 companies including Morgan Stanley, AOL andIBM. Shah has joined Bitzio, Inc. as a member of its new Advisory Board.
"We're very excited to have this suite of applications and talented team as part of Bitzio, Inc.," said Gordon McDougall, CEO of Bitzio, Inc. "We remain focused on our strategy to broaden our customer base and marketing reach with established and proven mobile application companies that drive value to our bottom line. Amish is extremely well known in the internet marketing and mobile applications industry, with an unprecedented knowledge base on how to build and market multiple applications on varying mobile application platforms. This addition to our company will allow us to attract and accurately assess other pools of talent in the mobile applications community as we continue to execute on our acquisition strategy."
Amish Shah, founder of Bitzio Corp, notes, "The mobile application space is moving at a pace that few foresaw. Bitzio is at the heart of an industry where experts are estimating revenues of $7.3 billion in 2011 and expecting that revenue to grow over 400% to almost $37 billion by 2015(1). Quite simply, we have a vision to not only capitalize on this opportunity but also develop a completely new and different mobile development and marketing platform: one that would look at the future - at Web 3.0 - and be on the leading edge of its evolution. With the new team at Bitzio, Inc., this vision is well on its way to becoming a reality."
(1) "App Stores' Direct Revenue to Exceed $14 billion Next year and Reach Close to $37 billion by 2015", Canalys Mobile App Store Analysis forecast, June 2011.
About Bitzio, Inc.
Bitzio, Inc. is a company with a strong focus on smartphone applications, social media and marketing optimization. We work with developers of mobile applications to dramatically improve their marketing reach, sales conversion, revenue and bottom line profits. We envision a mobile community where mobile applications enable people to connect in new and meaningful ways, and where Bitzio is a key driving force enabling these connections. For more information on the company, visit us at .
About Bitzio Corp.:
Bitzio Corp. is a company that focuses on developing niche mobile applications for consumers and organizations.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. In many cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential", or "continue", or the negative of these terms and other comparable terminology. These statements are only predictions. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a number of factors. The forward-looking statements made in this press release relate only to events as of the date of this release. We undertake no ongoing obligation to update these statements.
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Datum: 14.07.2011 - 13:15 Uhr
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News-ID 34708
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