BOCA RATON, Fla., Sept. 20, 2011 /PRNewswire/ -- MediaNet Group Technologies, Inc. (OTCQB: MEDG), a global shopping and entertainment community, today announced that it has launched the DubLi Shopping Mall in Denmark, the fifth mall launched this year under the new shopping platform.
The DubLi Shopping Mall in Denmark features more than 250 of the most notable Danish brands including Georg Jensen, L'EASY, Day Birget et Mikkelsen, Stadium and Skagen. The launch of the Danish Shopping Mall comes in response to significant growth for the Company in Denmark over the last few years. Since the beginning of 2011, DubLi has launched new Shopping Malls in Germany, the U.S., Australia, Spain and now Denmark.
Michael Hansen, President and Chief Executive Officer stated, "The new DubLi Shopping Mall platform is enjoying a welcome reception from our customers and Business Associates around the world. With every new mall we launch, we benefit from the experience of capturing more data on the user experience so that we may deploy new optimization tools throughout our Shopping Mall universe. While no two geographic markets are exactly the same, we are excited about the data we are gathering regarding consumer behavior, discretionary spending patterns and global ecommerce. We are optimistic about the future of the DubLi Shopping Malls as we enter fiscal 2012."
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.