SAN DIEGO, CA and LAS VEGAS, NV, July 9, 2015 /PRNewswire/ - Isaac Capital Group LLC (ICG), an international private investment firm based in San Diego, California, today announced that, in connection with Isaac Capital Fund I, LLC, it committed $7M of bridge financing for LiveDeal Inc. to pursue acquisitions. Isaac Capital Fund I, LLC is a company controlled by LiveDeal Inc. CEO, Jon Isaac. The committed capital was earmarked for the first acquisition in LiveDeal and Live Venture Inc.'s recently announced strategy to acquire revenue-positive companies to increase stockholder value.
The financing was non-dilutive to LiveDeal's stockholders, and allowed LiveDeal to close its first acquisition under its new strategy, which LiveDeal expects to announce in the near term.
"Isaac Capital Group's commitment helped LiveDeal acquire a revenue-generating and profitable company, and for this we are extremely excited," said Jon Isaac, CEO of LiveDeal and managing member of Isaac Capital Group LLC. "We believe that this investment will prove to be advantageous to all involved and we look forward to the continued success of LiveDeal."
Isaac Capital Group (ICG) is a private investment firm based in San Diego, which makes highly selective, long-term investments in companies it deems to have strong management teams. Its investments are across a variety of industries and focus on creating value through growth and superior performance. The firm's comprehensive approach to due diligence execution, research and market analysis, paired with its ability to identify unique opportunities, has allowed for expansive growth and development within its investment portfolio.
Isaac Capital Group is the largest shareholder in LiveDeal Inc. (NASDAQ: LIVE), a company with a geo-location based mobile marketing platform that enables restaurants to publish "real-time" and "instant offers" to nearby consumers, which has seen tremendous share appreciation since ICG became involved in 2011.
About LiveDeal, Inc. LiveDeal Inc. provides marketing solutions that boost customer awareness and merchant visibility on the Internet. LiveDeal operates a deal engine, which is a service that connects merchants and consumers via an innovative platform that uses geo-location, enabling 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™ 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.
SOURCE LiveDeal Inc.