LAS VEGAS, Jan. 15, 2015 /PRNewswire/ - LiveDeal, Inc. (NASDAQ:LIVE) ("LiveDeal" or the "Company"), operates livedeal.com, which enables restaurants to publish "real-time, instant offers" to consumers, today announced that its wholly-owned subsidiary, online marketplace ModernEveryday, has experienced significant revenue growth compared to last year.
Since the same period in 2013, ModernEveryday marked a 40 percent increase in revenues, much of which can be attributed to the holiday season. Further, LiveDeal infused significant capital into the company in order to fund inventory purchases.
"Our online sales continue to grow as does our relationship to our parent company, LiveDeal." said Byron Hsu, CEO of ModernEveryday. "The sales growth is largely the product of improvements in our software algorithms, which use sales data to provide us with a better prediction of consumer demand. These forecasts in turn result in more accurate, more efficient, and less risky inventory purchases. The end-result being that we are smarter in how we buy inventory, while consistently improving our revenues and mitigating risk."
"Our acquisition of ModernEveryday continues to pay off in a variety of ways," said Jon Isaac, CEO of LiveDeal Inc. "From the infusion of additional funding into the company, to the expansion of our product offerings for our customers, to a better understanding of consumer buying trends, so that we can maximize revenue and minimize risk, we believe that we are providing our customers with money-saving opportunities and our shareholders with measurable results."
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.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking" statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements 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. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, outlook, assumptions or future events or performance, which often, but do not always, include the use of words or phrases such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "targets" or similar expressions, are not statements of historical facts and may be forward-looking. 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, anticipated results from acquisitions, and our future financial performance and stockholder value, 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. 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.
SOURCE LiveDeal Inc.