Rarus Technologies Inc. to Focus on Social Media Platform that Fuses Local Commerce - An estimated $1.4 Trillion Market by 2015 Growing 13.5% a Year
HENDERSON, Nev., May 14, 2012 /PRNewswire/ -- Rarus Technologies Inc. (OTCQB: RARS) ("Rarus") is pleased to provide this corporate update with regard to the Rarus' recent acquisition of Zngle.com, a next-generation internet platform that fuses popular social media elements with cutting-edge local area e-commerce technologies to create new exciting ways for users to connect and communicate with friends, family, and businesses.
"The acquisition of Zngle was a major paradigm shift for Rarus and going forward we'll be implementing an exciting business strategy centered around two of the fastest growing segments of the new economy - interactive social media and local area e-commerce," said Mr. Manfred Ruf , CEO of Rarus. "Zngle is designed to take interactive social media to the next level and bridge the gap between consumers and local businesses like never before. According to Internet Retailer (www.internetretailer.com), the local area e-commerce marketplace is expected to grow to over $1.5 trillion by 2015 and we hope that Zngle technologies will play an important role in capturing a portion of the income to be generated in this industry."
Mr. Ruf continued, "We are also extremely pleased with the rapid growth we've seen in our user base over the last month. We expect this trend in user growth combined with the potential market for our apps in the local area e-commerce marketplace will form a winning business model."
Rarus is also now finalizing the expansion of a senior management and development team to launch, promote, and maintain the Zngle.com platform and Rarus expects to make several significant appointments in the near future. Further updates regarding Zngle.com and other Rarus Technologies business developments will be made as additional information becomes available.
About Rarus Technologies Inc. and Zngle, Inc.
Rarus Technologies Inc. was incorporated in 2010 and is an emerging technology company focused on establishing an innovative business model intended to bridge cutting-edge social media and e-commerce into a marketplace that connects friends, family, consumers, and vendors in new and exciting ways. In May, 2012, Rarus Technologies Inc. incorporated Zngle, Inc. as the its primary subsidiary and operations base for the Zngle.com licensed internet platform. Zngle.com is designed be a centralized Internet portal and next-generation social media website that incorporates voice/text messaging, video email, and mobile technologies to allow consumers to access real-time information about various products and services through augmented proximity reality search features.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to its plans or operations. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE Rarus Technologies Inc.
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