LOS ANGELES, May 7 /PRNewswire-FirstCall/ -- The X-Change Corporation (OTC: XCHC), a multimedia and e-commerce venture serving the diverse and growing Hispanic market, announced the addition of on-demand, Spanish-language videos to members of its MundoTribu™ social networking service.
Company President and CEO, Haviland Wright, Ph.D., said, "Through our subsidiary, Commerce Services, Inc., we yesterday signed a definitive strategic alliance agreement with GOTV, LLC, a Miami-based distributor of engaging videos and the technology needed to play them in a standard web browser, the iPhone®, the iPad®, and on other mobile platforms. This multi-year agreement enables us to deliver a variety of compelling videos in Spanish and, soon, in English, to MundoTribu. The video service will go live this morning. This announcement reflects our commitment to the X-Change strategy announced two months ago. We will grow the company quickly and profitably through development, acquisition, and partnerships."
Carlos Granier-Phelps, CEO of GOTV, LLC, said, "Today, our Pongalo-branded online library has over 1,000 hours of premium-quality content from top Latin American and US Hispanic content producers. We've contracted over 2,500 hours for short-term digitizing and distribution with additional access to over 10,000 hours of archival content. In addition, we've recently acquired six new telenovelas. We are pleased that through our alliance with MundoTribu, we can reach more individuals in our ideal markets."
Richard T. Steele, president of Commerce Services, added, "Our social networking site membership will grow quickly through the provision of attractive services. GOTV's excellent Pongalo video service is one that will be popular for years to come."
X-Change Corporation executive vice president, Fernando A. Gomez, said, "To satisfy our customers' demand for full TV programming from their families' countries of origin, our plans include providing our members with live streaming feeds from country-specific broadcast stations."
About The X-Change Corporation
The X-Change Corporation is a publicly traded shopping, auction, and social networking venture serving the diverse and growing Hispanic markets of the Americas through the provision of services tailored to our customers' cultural expectations and preferences. The Company intends to seek out or build complementary products that help it achieve its goals for growth and profitability.
Pongalo is a free online video service that offers telenovelas, TV shows and premium Hispanic video content at Pongalo.com and select partner destinations worldwide.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. The X-Change Corporation does not undertake any duty nor does it intend to update the results of these forward-looking statements.
SOURCE The X-Change Corporation