$LIVE - LiveDeal Inc. Announces Increased Revenues in Q1 2014, Completes $10 Million Capital Raise
Revenues Increased Year-Over-Year Net Loss Decreased by 62 Percent Year-Over-Year Company Completed $10 Million Capital Raise Management Forecasts Continued Growth in Revenues in Future Quarters
LAS VEGAS, NV--(Marketwired - Feb 18, 2014) - LiveDeal Inc. (NASDAQ: LIVE) ("LiveDeal" or the "Company"), a publicly traded company that operates www.livedeal.com, a geo-location based mobile marketing platform that enables restaurants to publish "real-time" and "instant offers" to nearby consumers, is pleased to provide the following update from the 1st Quarter, 2014.
LiveDeal's revenues increased by 4 percent, year-over-year, in Q1 2014; meanwhile the company was able to decrease its net loss by 62 percent. The company's CEO and President, Jon Isaac, anticipates that revenues will continue to increase as the company expands its various brands.
During January 2014, LiveDeal sold $10,000,000 in common stock in an at-the-market offering that was registered under the Company's Form S-3, declared effective in May 2013. The Company raised approximately $9,700,000, in net proceeds from the sales.
2014 Update and Outlook - Highlights:
-- $9.7 Million raised in net proceeds in an at-the-market equity financing
-- Successfully launched LiveDeal San Francisco (Jan 9, 2014) and New York
City (Feb 13, 2014)
-- The Company announced a 153% growth in traffic to livedeal.com for
January 2014 compared to December 2013
-- Released DealCentral - an online deal portal, which allows restaurants to
create and publish offers in seconds
-- Effected a 3-for-1 forward stock split
Q2 Outlook
-- Continued expansion of livedeal.com into additional metropolitan areas
-- Plans to release iOS and Android LiveDeal apps by March 31, 2014
What is livedeal.com?
livedeal.com is a unique, real-time "deal engine" connecting merchants with consumers. The Company believes that it has developed a first-of-its-kind web/mobile platform providing restaurants with full control and flexibility to instantly publish customized offers whenever they wish to attract customers. The website includes a number of user and restaurant-friendly features, including:
-- an intuitive interface enabling restaurants to create limited-time offers
and publish them immediately, or on a preset schedule that is fully
customizable;
-- state-of-the-art scheduling technology giving restaurants the freedom to
choose the days, times and duration of the offers, enabling them to
create offers that entice consumers to visit their establishment during
their slower periods;
-- advanced publishing options allowing restaurants to manage traffic by
limiting the number of available vouchers to consumers;
-- superior geo-location technology allowing multi-location restaurants to
segment offers by location, attracting customers to slower locations
while eliminating potential over-crowding at busier sites;
-- innovative proprietary restaurant indexing methodology; and
-- a user-friendly mobile and desktop web interface allowing consumers to
easily browse, download, and instantly redeem "live" offers found on
livedeal.com based on their location.
Restaurants can sign-up to use the LiveDeal platform at the Company's website (www.livedeal.com) or via the LiveDeal App, which is scheduled to be released in March, 2014.
