110 Media Group and Global Portals Online Expect Growth With Internet Market Niche
15 9월 2005 - 6:10AM
PR Newswire (US)
Companies Seek to Monetize One of the Largest Free Hosting and
Do-it-Yourself Website Portals PATCHOGUE, N.Y., Sept. 14
/PRNewswire-FirstCall/ -- 110 Media Group, Inc. (OTC:OTEN)
(BULLETIN BOARD: OTEN) and Global Portals Online, Inc., a
privately-held company, see strong market opportunities emerging in
a growing market niche by bundling their popular individual
products for web consumers worldwide. The two companies previously
announced the signing of a letter of intent to merge. Jupiter Media
Research estimates that over 1 billion people will be on the
Internet by the end of 2005 and over 60 million websites will be
built in the next two years alone. However only 5% of those people
on the Internet can publish web media, so both companies are very
optimistic their collective bundle of services will be poised to
service the overwhelming supply-and- demand sought by the 95% of
users seeking do-it-yourself web tools. With spending projected to
climb to $26 billion by 2010, according to Forrester Research, the
demand for a strong global Internet presence will track this trend.
Global Portals' "ease of use" application platform could become one
of the next 'must-have' Internet utilities. Already, 110 Media
Group's "Web1000" is one of the largest free hosting platforms
globally with over 700,000+ websites hosted since being established
in 1996. With the new product partnering of Global Portals, Web1000
expects to monetize its capability to create traffic and result in
immediate impact on 110 Media Group's annual revenues. Darren
Cioffi, Chief Financial Officer of 110 Media Group, Inc., stated,
"When Global Portals took over the management of 110 Media's
Web1000 site in the middle of 2005, we recognized immediately that
our relationship needed to evolve to the next level. This
transaction allows both companies to deliver a high-product
differentiation with a low cost revenue model." Global Portals'
products provide a complete turnkey private-label personal portal
solution whereas consumers or members can obtain all the "do-it-
yourself" tools for building their own online Global website and/or
portal. Existing high-speed cable operators, Telcos, Hosting/ISP's,
major internet portals, media conglomerates, online destinations
and community sites, can benefit from the revenue model from these
operations, with customers they already have, without any
additional infrastructure or maintenance costs. The principals of
Global Portals pioneered the first do-it-yourself website builder
called Image Cafe, which they quickly sold to Network Solutions in
November 1999 for 25M. The Image Cafe product is responsible for
millions of personal and business websites worldwide and still
operates to this day. 110 Media Group, Inc., based in Patchogue,
New York, is publicly traded with its securities listed on the
NASDAQ OTC BB. It is engaged in the business of developing and
managing for operation an Internet web hosting and advertising
business which maintains and hosts websites and provides site
monitoring and maintenance services for third parties; directs and
redirects Internet traffic and e-commerce opportunities. Global
Portals Online, Inc. offers the consumer a chance to build their
own online portal, like having your own personalized AOL network of
sorts, from a partners site with features such as a easy-to-use
multimedia website builder, business/personal life management tools
(email, calendar, instant messaging, file sharing, etc.),
customized news updates, community tools, automated commerce
products, and options previously unavailable to the novice
Webmaster. This press release includes certain "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. These statements are
based on 110 Media Group, Inc. management's current expectations
and are subject to risks and uncertainties and changes in
circumstances. All forward-looking statements included in this
press release are based upon information available to 110 Media
Group, Inc., as of the date of the press release, and it assumes no
obligation to update or alter its forward looking statements
whether as a result of new information, future events or otherwise.
These forward-looking statements may relate to, among other things,
plans and timing for the introduction or enhancement of its
services and products, statements about future market conditions,
supply and demand conditions, and other expectations, intentions
and plans contained in this press release that are not historical
fact. Further information on risks or other factors that could
affect the results of 110 Media Group, Inc. and its operations are
detailed in its filings with the United States Securities and
Exchange Commission. Darren J. Cioffi, Chief Financial Officer, 110
Media Group, Inc. (631) 207-2227 ext. 104 DATASOURCE: 110 Media
Group, Inc. CONTACT: Darren J. Cioffi, Chief Financial Officer, 110
Media Group, Inc., +1-631-207-2227, ext. 104 Web site:
http://www.110mediagroup.com/
Copyright