LiveDeal Inc. Announces Launch of LiveDeal.com, a Real-Time Deal Engine
Connecting Merchants and Consumers
LAS VEGAS, NV -- (Marketwired) -- 09/19/13 --
-- Initial Target Is America's $660 Billion Dining Industry
-- Company Has Approximately 500 Participating Restaurants and Has
Curated Hundreds of Deals in Initial Launch City of San Diego, CA
-- Company Plans to Launch in Multiple Cities by End of 2013
LiveDeal Inc. (NASDAQ: LIVE) ("LiveDeal" or the "Company"), a publicly
traded provider of specialized online marketing solutions to small
local businesses that boost customer awareness and merchant
visibility, today announced the launch of LiveDeal.com. The launch
redefines the Company's strategy and its direction, and centers its
focus on the new LiveDeal.com platform and growing the base of
restaurants utilizing the LiveDeal platform to attract new customers.
What is LiveDeal.com?
LiveDeal.com is a unique, real-time "deal
engine" connecting merchants with consumers. The Company believes
that it has developed the first-of-its-kind web/mobile platform
providing restaurants with full control and flexibility to instantly
publish customized offers whenever they wish to attract customers.
Highlights of the New LiveDeal.com include:
-- A user-friendly interface enabling restaurants to create limited-time
offers and publish them immediately, or on a preset schedule that is
-- State-of-the-art scheduling technology giving restaurants the freedom
to choose the days, times and duration of the offers, enabling them to
create offers that entice consumers to visit their establishment
during their slower periods;
-- Advanced publishing options allowing restaurants to manage traffic by
limiting the number of available vouchers to consumers;
-- Superior geo-location technology allowing multi-location restaurants
to segment offers by location, attracting customers to slower
locations while eliminating potential over-crowding at busier sites;
-- A user-friendly mobile and desktop web interface allowing consumers to
easily browse, download, and instantly redeem "live" offers found on
LiveDeal.com based on their location.
Restaurants can sign up to use the LiveDeal platform at the Company's
The LiveDeal Business Model
The Company believes one of the primary
challenges facing the dining industry is the inefficient and limited
number of ways restaurants are able to market offers and promotions
to their potential customers. Daily deal companies typically dictate
offer terms, such as the discount amount and redemption details. This
not only erodes potential profits for restaurant owners but could
also drive traffic during already-busy periods for the restaurants.
LiveDeal's model benefits both the restaurant and the consumer: it
provides the restaurant the opportunity to create any offer they
choose, limit the number of potential claimants of their promotion,
publish the offer on days and at times of their choosing, and
provides customers with relevant offers they can easily and quickly
redeem while creating a cost-effective model for LiveDeal to grow and
easily scale its operations. LiveDeal expects to initially derive
revenues through premium placement on the site, and the Company is
also exploring various options for monetizing the website.
LiveDeal Inc., best known for migrating print yellow pages to the
Internet in 1994, began to develop the model for LiveDeal.com after
having worked closely with well-known publishers in the daily deal
market. Over the past few months, the Company tested the beta
platform in a number of cities, and the model has been well received
by restaurants, consumers, and various restaurant associations.
Jon Isaac, CEO of LiveDeal, stated, "We are overwhelmingly excited to
announce today's launch, which is the culmination of a great deal of
hard work on the part of everyone at our Company. We are pleased to
have created an innovative platform that truly changes the way
businesses interact with consumers. In our initial research, we saw
that restaurants, a nearly $2 billion per day industry in the U.S.
alone, seemed to be an ideal initial target for our technology.
Previously, the only options available in this industry came with
serious issues for restaurants, including high costs that erode
margins, delayed revenue collection for merchants, poor timing, and
lack of traffic management, or the inability to drive the right
amount of traffic to businesses when they need it most. For example,
LiveDeal.com enables a 20-table restaurant looking to attract 10 new
customers on a rainy Tuesday night to create a deal for that day
only, set the maximum number of claimants that can redeem the offer
to 10, and publish the deal within seconds to nearby consumers. We
believe this is an incredible value-add and useful tool for
restaurants, especially given the current options available in the
marketplace. Other publishing companies not only could deplete up to
75% of restaurant revenues, but could also send hundreds of clients
to a small restaurant during the restaurant's already busy night.
This does not solve the problem that most restaurants have, which is
directing traffic on certain days and during certain times. There
have been reports that some restaurants have gone bankrupt after
running a daily deal campaign."
Mr. Isaac continued, "With approximately 1 million restaurants in the
U.S., we believe the new LiveDeal.com is an innovative growth driver
for our Company and brings great value to restaurants and to
consumers. We have built a growing customer base in select cities on
the West Coast, and the feedback thus far has been very positive. Our
goal is to continue to ramp up our West Coast expansion and market
widely, with a conservative initial goal of having 1,000 restaurants
participating by the end of 2013. LiveDeal's principal focus over the
coming months will be to build scale, and we expect to see our
existing user base grow substantially with this official launch.
"While our initial target market is the dining industry, we strongly
believe that our real-time, merchant- and consumer-friendly model can
eventually transition into a number of other applications. We are
supported by a strong team of engineers, customer service
representatives, and management executives, and look forward to
keeping investors apprised of our progress in the coming weeks."
About LiveDeal Inc.
LiveDeal Inc. provides marketing solutions that
boost customer awareness and merchant visibility on the Internet.
LiveDeal operates deal engine, a service that connects merchants and
consumers in an innovative platform that uses geo-location. Under
this platform, LiveDeal enables businesses to communicate real-time
and instant offers to nearby consumers. In November 2012, LiveDeal
commenced the sale of marketing tools that help local businesses
manage their online presence under the company's Velocity Local(TM)
brand. LiveDeal continues to actively develop, revise, and evaluate
these products and services and its marketing strategies and
procedures. For more information, visit www.livedeal.com.
Forward-Looking and Cautionary Statements
This press release
contains "forward-looking" statements that are based on present
circumstances and on LiveDeal's predictions with respect to events
that have not occurred, that may not occur, or that may occur with
different consequences and timing than those now assumed or
anticipated. Such forward-looking statements, including any
statements regarding the plans and objectives of management for
future operations or products, the market acceptance or future
success of our products, and our future financial performance, are
not guarantees of future performance or results and involve risks and
uncertainties that could cause actual events or results to differ
materially from the events or results described in the
Forward-looking statements are made only as of the date of this
release and LiveDeal does not undertake and specifically declines any
obligation to update any forward-looking statements. Readers should
not place undue reliance on these forward-looking statements.
The Equity Group Inc.
Senior Vice President
Constellation Asset Advisors, Inc.
Senior Vice President
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