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Bizzingo Signs Agreement With Sun Enterprises Group Forming Joint Venture to Provide B2B Social Media in China(February 13, 2012)
FLEMINGTON, NJ -- (Marketwire) -- 02/13/12 -- Bizzingo, Inc. (OTCBB: BIZZ), a business centric social media company, announced that it has signed an agreement with China-based Sun Enterprises Group, Ltd. forming a joint venture for technology, business development, and co-marketing of Bizzingo's B2B social media platform in China.
Bizzingo is developing a B2B social media network created specifically for businesses that will allow them to search and find each other easily, while encouraging collaboration through a validated and trusted network. According to the agreement, the two companies will jointly develop and exclusively co-market a Software as a Service (SaaS) delivered product under the "Livebook" brand, customized to Chinese companies. This service will provide Chinese companies a simple, yet rich, set of tools to leverage in their Internet portals, including access via executive mobile devices, extending the value proposition of Bizzingo's core social B2B platform functions. The end product will provide Chinese and U.S. companies a way to connect, market, and collaborate more efficiently.
The business potential for leveraging "Livebook" to build commercial avenues is virtually limitless, according to Bizzingo. In addition, Sun will introduce Bizzingo to potential strategic partners in China, according to terms of the agreement.
"We are thrilled to be working with Sun Enterprises to tailor the Bizzingo platform capabilities for easy adoption by Chinese companies in their global business development efforts, as expressed by the Livebook roadmap," said Douglas Toth, Bizzingo's chairman and chief executive officer. "One of Bizzingo's key goals is to level the playing field for small and midsize businesses. This JV enables us to extend our value proposition globally, by providing access to Chinese manufacturing and sourcing through a highly effective and targeted collaboration platform."
"We look forward to partnering with Bizzingo on the creation of the 'Livebook' application, especially for Chinese companies. Because it will be designed for business, we believe it holds great potential for companies to use social media to expand their opportunities," said Alex Cherepakhov, CEO of Sun Enterprise Group, Ltd.
About Bizzingo, Inc.
Bizzingo is a global social media company that has developed Bizzingo.com as a unified business-to-business social network. Bizzingo is a targeted search and social network designed especially for companies. The Bizzingo network will allow businesses to cost-effectively introduce their products and services to a global network of qualified business users; leverage and expand their brand and image; and interact and cross-connect any and all of their contacts, thereby effectively communicating their marketing message to the most relevant audiences. Bizzingo was created to enable B2B social networking as a primary vehicle and core venue to market, build interactions with, and sell goods and services to a global business partner base more easily and effectively than ever conceived possible.
Bizzingo also aims to provide a viable channel within which to negotiate transactions that are devoid of personal networking clutter, creating the ideal platform for business via social networking. As the first true business-to-business social platform, Bizzingo is also designed to allow businesses a way to specifically and quickly find each other and selectively view promotional information, as well as directly communicate and interconnect via their existing networks. Bizzingo's unique, meaning-mining system aims to create one of the most complete and relevant business systems in the world, delivering timely requests as well as contact and opportunity-based information to drive business results.
For additional information, visit www.bizzingo.com
About Sun Enterprises Group, Ltd.
Sun Enterprises Group, Ltd. is a new generation integrated services company that focuses on developing business opportunities and partner networks for international companies in the China market to help them unlock value and maximize their potential. The Company's mission is to bring brands, products, and services from around the world to cater to the ever-growing Chinese consumers.
Sun Enterprises Group, Ltd. uses a unique "4M" business model to create an ecosystem for foreign brands entering the China market: Mastermind -- resources integration and overall planning; Marketing -- brand enhancement and brand positioning; Management -- brand and channel management; and Money -- third party fund support. This approach represents a new generation of a market expansion model that has revolutionized the consumer marketing concept in the country for foreign brands and will be the trusted partner for expansion in China. SEG has successfully applied this model to its consumer products and real estate divisions.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of Bizzingo, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the Company's short term business and operations, the general ability of the Company to achieve its commercial objectives, including the ability of the Company to sustain growth; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "intended" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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