BOCA RATON, Fla., Aug. 30, 2011 /PRNewswire/ -- MediaNet Group Technologies, Inc. (OTCQB: MEDG), a global shopping and entertainment community, today announced that DubLi.com has launched its Customer Referral Program and the DubLi Shopping Mall in Spain.
The Customer Referral Program rewards V.I.P. Members for referring new customers who subscribe to the V.I.P. Member package. Existing DubLi V.I.P. Members can earn cash rewards that will be deposited directly into their DubLi Cash Organizer. All V.I.P. Member package holders are eligible to receive the DubLi-branded Debit Card to which they may deposit funds from their Cash Organizer. The DubLi Debit Card will be available in multiple currencies to better serve DubLi's global customer base.
The Company also announced the launch of the DubLi Shopping Mall in Spain that features some of the country and Europe's most notable brands including El Corte Ingles, Fnac, Carrefour and Tienda Real Madrid. The Spanish Shopping Mall was built in response to significant interest from Business Associates and potential Partner Programs serving the Spanish market.
Michael Hansen, President and Chief Executive Officer stated, "We are excited about the launch of the Customer Referral Program. DubLi's history in network marketing has taught us well about the power of direct and referral marketing and the Customer Referral Program sets the stage for us to capture many more consumer shoppers from our portals around the world. At the forefront of our growth strategy, we will continue to offer additional products, services and benefits to our already loyal global customers. This new program provides customers with an additional medium by which to engage with DubLi."
Mr. Hansen continued, "The launch of the DubLi Shopping Mall in Spain is the fourth this year under our new platform and we expect to launch Denmark before our fiscal year ends in September. We are pleased with the response to our new platform and search capabilities and look forward to additional opportunities for DubLi Shopping Malls around the world during next year."
About MediaNet Group Technologies, Inc.:
MediaNet Group Technologies, Inc. has created a global online shopping community that includes its reverse auction concept, Shopping Mall platform and Entertainment portal. The Company's unique operating strategy combines online shopping with its distribution network to reach customers directly on a global scale.
The foundation of MediaNet Group is grounded in innovative technology, a global platform and an expertise in understanding and capitalizing on global economic trends and changing consumer behaviors. The central hub of the MediaNet Group community is DubLi.com from which all other components of the business model are derived. Additional information about the Company is available in its filing with the Securities and Exchange Commission at www.sec.gov.
Except for historical matters contained herein, statements made in this press release are forward-looking. Without limiting the generality of the foregoing, words such as "may," "will," "to," "plan," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.
Investors and others are cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, the risk of (i) an inability to establish and/or maintain a large, growing base of business associates; (ii) an inability to develop and/or maintain brand awareness for our online auctions; (iii) a failure to maintain the competitive bidding environment for our online auctions; (iv) a failure to adapt to technological change; and (v) a failure to maintain adequate internal controls. The Company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended September 30, 2010.
MediaNet Group Technologies, Inc.:
SOURCE MediaNet Group Technologies, Inc.