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Communicate.com, Inc. |
...I've been in CMNN for a few years now and I'm buying here.This is a
great story that's unfolding with a new CEO that's building future
value.Now I will sit back and watch things develop and hope I had this
right.Todays news shows me that they're not just twiddling their
thumbs.I like these guys...............jpg
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&n...
Communicate.com Inc. to Change Name to Live Current Media Inc. and
Enters into Strategic Acquisition of Auctomatic
New Media Company Developing Content and Commerce Destinations
VANCOUVER, British Columbia--(BUSINESS WIRE)--Communicate.com Inc.
(OTCBB: CMNN) today announced it is now operating as “Live Current
Media Inc.” pending shareholder approval later this year. A new media
company built around content and commerce destinations, Live Current
will turn its impressive set of premium properties into independent
thriving businesses. In its first move, today it entered into a
definitive agreement to acquire Auctomatic - an early stage start-up
funded by, among other investors, Y Combinator LLC. Auctomatic has
developed commerce technology and tools that enable sellers to easily
transact online through sites such as eBay. The proposed acquisition
is subject to customary closing conditions and is expected to close in
May of this year.
“Live Current’s properties combined with the foundational capabilities
Auctomatic brings to the company enables us to deliver on our strategy
of providing the next evolution of consumer Internet experiences,”
said Geoffrey Hampson, Live Current CEO. “We own some of the most
popular names on the Internet which we will turn into destination
sites for consumers globally.”
The pending acquisition of Auctomatic is an opportunity for Live
Current to rapidly grow its technology and product development
capabilities, social and widget network experience and entrepreneurial
mindedness that gels with Live Current’s new identity. Live Current
will apply Auctomatic’s commerce technology to Perfume.com and other
commerce destinations. All individuals from Auctomatic will be joining
Live Current in connection with the proposed acquisition, including
founders Kulveer Taggar, Harjeet Taggar and Patrick Collison. In
addition to Y Combinator and other investors, Auctomatic was funded by
Chris Sacca and Paul Buchheit.
With the Live Current team in place, the company is focused on
building its premium properties into engaging destination sites, to be
monetized through advertising revenue as well as commerce
transactions. Live Current’s focus will be to integrate all aspects of
the ways in which consumers interact with the Internet today,
including mobile, into these DestinationHubs™, enabling users to
discover more and get closer to the information they are passionate
about in their daily lives. The company will focus initially on
building these DestinationHubs™ within the categories of travel,
sports and health & beauty.
About Live Current
Communicate.com Inc. is doing business as "Live Current Media Inc."
and will seek formal shareholder approval to change its legal name to
Live Current Media Inc. later in 2008.
Live Current builds, owns and operates some of the most powerful and
engaging content and commerce destinations on the Internet. Through
subject-specific DestinationHubs™, Live Current properties connect
people to each other and to the information, brands, and products they
are passionate about. Live Current has headquarters in Vancouver,
Canada with a location in Seattle, WA and is publicly traded on the
NASD OTCBB (CMNN). For more information, visit www.livecurrent.com.
Safe Harbor: Certain statements contained in this press release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Although Live
Current Media Inc. believes the expectations reflected in such forward-
looking statements are based on reasonable assumptions; it can give no
assurance that its expectations will be attained. Factors that could
cause actual results to differ materially from expectations include
financial performance, regulatory changes, changes in economic
conditions and other risks detailed from time to time in Live
Current’s filings with the U.S. Securities and Exchange Commission.
The forward-looking statements included in this press release
represent the Company's views as of the date of this press release.
The Company does not undertake any obligation to update any forward-
looking statements, and readers are cautioned not to place undue
reliance on these forward-looking statements.
Contacts
Media:
Live Current Media Inc.
Becky Porter, 206-713-7959
Director, Corporate Communications
be...@livecurrent.com
or
Investors:
Live Current Media Inc.
Adam Rabiner, 604-453-4875 or 1-866-898-4354
Director, Investor Relations
a...@livecurrent.com
or
Alliance Advisors, LLC
Mark McPartland, 910-221-1827
Vice President
mark...@allianceadvisors.net
http://www.livecurrent.com
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