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Digagogo Ventures Begins Generating Revenue Streams From First Licensee and Appoints Investment Banking Executive as New President and CEO(April 25, 2012)
DETROIT, MI -- (Marketwire) -- 04/25/12 -- Digagogo Ventures Corp. ("Digagogo" or the "Company") (OTCBB: DOGO) (www.digagogo.com), a provider of information and marketing communications technology for local communities, announced today that it has appointed Nehru Chomatil, an experienced investment banking executive as President and CEO to head up the executive team and lead the growth of the company. The company also reports that our first licensee -- Red Deer -- has begun generating revenue.
"This is an exciting opportunity for me, and I will work hard to fulfill the board's expectations," stated Nehru Chomatil. "The company is now at a stage where we will soon be launching the Do Go Net engine component of our Red Deer Do Go Net website www.reddeerdogonet.com. This will be the prototype for all future local Do Go Net community websites. As well, we have a number of other vertical industries that we are investigating -- where we believe our powerful Do Go Net, Do Go Search and Do Go Pay engines can be profitably implemented. This next two years will be an exceptional growth period for the company and I am gratified the board has put its trust in me to help lead the company to success."
According to Fernando Londe, the newly appointed Chairman of Digagogo Ventures Corp., "We believe it's critical for the growth of the company to find someone who understands public company development and the investment community. This appointment will take the company to the next level and help build shareholder value. Mr. Chomatil brings over 20 years of public company and investment industry experience. And he has a proven track record raising capital for emerging growth companies. As Chairman, I will support him as he directs the growth and brings new opportunities to the company."
Terry Arnold, the current Digagogo President, stated: "I am pleased that Mr. Chomatil has been appointed President and CEO of Digagogo Ventures Corp. He brings a fresh perspective and the considerable experience to turn opportunities into reality. In his role as President, he will implement higher standards and bring new value to the company. And his appointment frees me to assume my new role as Vice President, heading up the Detroit Do Go Net initiative."
First Licensee Begins Generating Revenue - Update on Red Deer
"We are also pleased to report that our first licensee -- Red Deer Do Go Net -- has started to generate revenue from two of our initiatives that we plan to roll out in every local city portal licensee," stated Nehru Chomatil. "The two initiatives include our Red Deer Do Go Center business center that is becoming a popular resource for local businesses to use for meetings, presentations, logistics, and as an Internet technology learning services. The other initiative is our new Red Deer Apple iPad Eating Guide app that we are developing. We are beginning to generate advertising revenue from this iPad app, which should become a popular resource for locals dining out. It will include a complete listing of all Red Deer County restaurants, sorted by food categories such as Take-Out, Pub Food, Fine Dining and Ethnic Food. We are excited about this new product offering as we plan to roll out several other Apple iPad apps targeting other industry verticals. With over 77 million iPads in use and 12 million sold in the first quarter of 2012, we believe these Apple iPad apps will only increase in consumer use popularity." Note: We are quoting Apple figures for number of iPads in use.
About Nehru Chomatil
Nehru Chomatil has extensive experience in the financing and banking communities. He began his career as a stockbroker with West America, Inc., a Paine Webber affiliate company. Nehru was head of Private Client Wealth Management Division at First American Equities and was the Principal Equities Trader for National Capital and Carlin Equities, both boutique specialty firms. He was Managing Director and Chief Executive Officer of Aaron Capital, a regional investment banking and brokerage firm where he was responsible for overseeing the development and long-term strategic direction of the firm. Under his guidance, he was successful in bringing the firm back to profitability. As a visionary, he implemented a user-friendly software platform that produced increased efficiencies in trade executions and overall compliance within the SmallCap and MicroCap markets. His expertise within the financial service industry enabled him to successfully raise venture capital for developmental companies in both the private and public sector. Nehru also gained valuable experience in the 1990's developing, managing and consulting start-ups for a variety of service industry companies. He served on the Advisory Boards of Allied Development LLC and Swimco Pools Arizona. Nehru attended Arizona State University where he studied Aeronautical Engineering Technology and Finance and received a B.Sc.
How Do Go Centers Will Help Stimulate Local Community Economies
The state of the art Do Go Centers will help stimulate local community economies through online marketing and sales, and provide technology and leadership to build sustainable local business communities. The Do Go Net network provides a localized geographical sales channel for brands, manufacturers and retail operators to subscribe to. This local sales and distribution network enables users to buy, sell and share with every connected household portal. Families can build a personalized website, enabling them to login and become an independent business unit to conduct buying and selling through their virtual storefront. The Do Go Net channel also gives users the opportunity to take advantage of local group purchasing. Using Do Go Search they can access an exclusive local search engine that enables individuals, businesses, organizations and municipalities to provide searchable time-sensitive real-world information through an online platform, further enhancing everyone's marketing efforts. We believe this is a very scalable business platform that when implemented will prove to have a huge upside potential for local economies.
About Digagogo Ventures Corp.
Digagogo is a technology company based in Detroit with expertise in digital marketing, advanced Internet and telecommunication technology, and a strong background in the research and development of emerging technologies. Key members of Digagogo were involved in the development of software in areas ranging from security solutions for The United States Department of Defense (AirForce/NASA), Citibank Financial, ADP Payroll and Nissan Motor Corp., to high value interactive entertainment solutions for companies such as 20th Century Fox, Electronic Arts, Nexon and other online entertainment multi-nationals. In addition, Digagogo has a highly skilled International team that has worked with companies like Alliance Technology, Universal Music, and Esprit to identify market gaps and apply emerging technologies that drive business revenue. Digagogo has compounded all this knowledge to design Do Go Net, Do Go Search and Do Go Pay. These products and services aid in building strong local economies for any given region by facilitating digital sales, distribution and advertising networks.
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "optimizing," "potential," "anticipate," "goal," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the company's filings with the Securities and Exchange Commission.
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