LAS VEGAS, NV -- (Marketwired) -- 12/11/13 --
LiveDeal Inc. (NASDAQ: LIVE) ("LiveDeal" or the "Company"), a publicly traded company that operates livedeal.com, an innovative platform using geo-location to enable businesses to communicate real-time and instant offers to nearby consumers, today announced that the Company has launched livedeal.com in the Los Angeles market.
The expansion marks the second U.S. city where livedeal.com has launched, with the first being San Diego, Calif., in September 2013. The Company has been testing the livedeal.com platform in Los Angeles in recent weeks, and has signed up hundreds of participating locations as of today's official launch. The Company intends to provide Los Angeles restaurants with the ability to control their own customized offers to customers via livedeal.com's unique, real-time "deal engine." According to recent U.S. Census information (2009), there are over 22,375 restaurants in Los Angeles County.
The Company believes it can cost-effectively expand into other cities due to the scalability of the livedeal.com platform, as restaurants can curate deals through LiveDeal's account managers or create specials on their own. In addition, individual customers transact directly with the restaurant, eliminating the need for LiveDeal to act as an intermediary in the sale.
Jon Isaac, President and CEO of LiveDeal, stated, "We are pleased with the Company's progress to date, and more importantly with the adoption rate and feedback from consumers and restaurants. We achieved an incredible response in our initial launch city of San Diego, with over 20% of restaurants in the city now participating. Though we have taken a very deliberate approach to our expansion, we are seeing better-than-expected results in return visitors, and larger restaurant chains are now providing LiveDeal with exclusive deals previously unavailable to the public. We believe all of this will continue to drive traffic to livedeal.com and create greater awareness as we build our brand."
Mr. Isaac continued, "We feel we have created a model that makes sense in an industry reliant on real-time information. The daily consumer is interested in finding value, and equally important, restaurants are interested in a cost-effective, controlled method of increasing traffic and growing a loyal customer base at their restaurants. We believe livedeal.com is a one-of-a-kind solution in the marketplace. The Los Angeles market provides us with a great opportunity to expand our brand awareness and drive additional users to livedeal.com. We have continued to take an aggressive yet mindful approach to our roll-out. We recognize the need for scale to increase our value proposition to restaurants and feel that by selectively entering new markets we can bring more users to livedeal.com. We are currently testing in other U.S. cities and expect to have launched in four by the end of 2013, including San Diego and Los Angeles. Given the adoption rate in San Diego, we are optimistic about our potential success in Los Angeles."
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:
Restaurants can sign up to use the LiveDeal platform at the Company's website (www.livedeal.com).
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 that 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. 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, and our future financial performance, 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.
Contact:
Investor Relations
The Equity Group Inc.
Carolyne Yu
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Adam Prior
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Email Contact
Source: LiveDeal Inc.
Released December 11, 2013