|Page (1) of 1 - 03/08/11||email article||print page|
Mimvi Positioned for Mobile App Internet Expansion Into China(March 08, 2011)
SAN FRANCISCO, CA -- (Marketwire) -- 03/08/11 -- Mimvi, Inc. (OTCBB: MIMV), the world's first multi-platform search, discovery and recommendation engine for Mobile Apps, has announced its plans to target and capture the rising demand for Mobile Apps in Greater China. To address this market opportunity, a sister platform, called Mimvi Mobile China, will be formed as a Hong Kong-based joint venture. The joint venture will combine the leadership and technological capabilities of Mimvi, Inc. with Mobile Genius, LLC. Mobile Genius, LLC was co-founded by Thomas Rand-Nash, a doctoral candidate in Engineering Systems at the Massachusetts Institute of Technology (MIT). Mr. Rand-Nash will provide advisory expertise on targeted Mobile App strategies. Mobile Genius, LLC is the exclusive Mobile App developer and advisor for a sustainability initiative funded by the United States Department of Energy.
Attracted by Mimvi, Inc.'s superior search and recommendation technology, foreign companies, large and small, are set to benefit from this strategic alliance. As one example, China's Shenzhen Tianzhu Information Technology (http://www.tz1288.com) has already signed a non-exclusive letter of intent with the Company. Through the establishment of international alliances, Mimvi, Inc. intends to significantly expand the reach of its (patent-pending) proprietary Mobile App search, recommendation and development technology, and in turn provide value-added services to millions of Chinese clients. Each client will interface with the privately-funded Mimvi Mobile China platform. Application of Mimvi's technology will initially include the following key areas:
1. Mobile App search and recommendation solutions for mobile app stores
2. Mobile App advertising, transactions and coupons
3. Mobile App development (enterprise and consumer)
The timing of this move is well aligned with the consumer and enterprise adoption revolution that is currently taking place in the Mobile App industry. Mobile Apps are seen as the "new websites," a comparison noted by TechCrunch (http://tcrn.ch/f3sL5s). This megatrend was also recently highlighted by Forrester Research who referred to the shift from the "website internet" to the "Mobile App Internet." In the same report (http://bit.ly/hlbbai), Forrester Research forecasted, "The combined spend on apps and services will be $US54.6B a year by 2015." Although some companies such as Sky-mobi Limited have entered the space in terms of mobile app storefronts, Mimvi sees a complimentary opportunity in providing search and recommendation services across all of the new Mobile App Internet.
These efforts consolidate Mimvi's current revenue pipeline from both enterprise and consumer markets and reflect the Company's ongoing strategy of expanding its existing verticals in the strategic growth areas of search and recommendation services for Mobile Social Gaming Apps and Mobile Health Apps for iPhones and Android-based tablet PCs and smartphones. These vertical offerings can be found at the following locations:
Kasian Franks, Founder and CEO of Mimvi, commented, "Looking at the history of the Internet, we have seen multitudes of individuals and companies around the world build websites for themselves and others. We've also seen companies build search services to help people find these websites among the nearly infinite number now available." He continued, "Companies that have provided leading search services for websites have done very well over the years. We are now seeing countless individuals and companies build mobile apps for multiple purposes just as they did with websites in the past. Mobile apps are driving the sales of smartphones and tablets because consumers demand the widest selection of mobile apps. But if they can't find apps that are relevant to them, then the device becomes irrelevant to them. In this regard, we believe Mimvi is very well positioned to help people find relevant mobile apps from amongst the many available in the marketplace -- in an unbiased, platform independent way. Moreover, our recommendation systems for helping people discover relevant mobile apps remain unmatched in breadth and quality when compared to any competitor prepared to fully enter this space."
Thomas Rand-Nash, Co-founder and CEO of Mobile Genius, stated, "Most companies wait too long to establish their U.S. presence, while also sacrificing other international growth opportunities. Combining our systems approach to mobile app strategy development with the world's foremost mobile app search company is an exciting prospect. This will provide us with strategic partnerships and new streams of revenue, including the engagement of numerous white-label brands that will be on the iOS, Android and Windows Phone 7 platforms."
Dr. Gordon Chiu, Chief Advisor for Mimvi and Co-founder of Mobile Genius, commented, "Asia has become the dominant manufacturer of smartphones. Mobile apps are flooding markets on every mobile operating platform. However, a common challenge involves the huge disparity in mobile app quality, from low to high, with singular business models that are dangerously reliant on pay-per-download and/or advertising pop-ups, as primary revenue sources. As millions of companies roll out their mobile apps and then wake-up to realize their mobile app presence has been deleted by the consumer, the evolution will begin with the adoption of robust mobile app strategies coupled with the proper search and recommendation algorithms. This tipping point is unavoidable. It is where mobile app strategy and mobile app search technology will be in excessive demand. The fact that Chinese companies are reaching out is analogous to the Chinese demand for limited resources and commodities (i.e. gold, oil, rare earth elements, etc). The combination of both companies is a powerful proposition and will provide many opportunities for all types of companies in the mobile ecosystem."
Mr. Franks concluded, "Smartphone adoption is surpassing PC adoption around the world, as mobile apps are driving the sales of these devices. This represents a unique opportunity for Mimvi because the world's leading players in the mobile space simply cannot put much effort into providing search and recommendation services across different platforms, as this would place them in the conflicting position of driving the sales of smartphones and tablets for their competitors. These partnerships will provide Mimvi tremendous strategic and revenue opportunities throughout Asia."
Headquartered in San Francisco, California, Mimvi, Inc. (OTCBB: MIMV) is a pure-play search engine and recommendation technology company. Its (patent pending) proprietary search and "intelligent" recommendation algorithms enable the search and discovery of Mobile Apps, Mobile Content and Mobile Products across multiple devices and platforms, including: the iPhone, Google Android, BlackBerry and Web Apps. Services for iPad, Windows/Nokia and Samsung are in the pipeline. For more information, please visit: http://www.mimvi.com
About Mobile Genius
Mobile Genius, LLC is an innovative mobile consultancy and development firm with a presence in Barcelona, Boston, New York City and San Francisco. It leverages the expertise of business experts alongside the best and brightest scientists and engineers from MIT, Stanford and UC Berkeley to apply a unique system-level approach to mobile strategy development. It helps businesses of all sizes maximize the value that mobile technologies provide. For more information, please visit: http://www.mobilegeniusmedia.com
Safe Harbor Statement
This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Mimvi has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect Mimvi's current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Mimvi's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Mimvi undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
For more information:
Emerging Growth Research, LLP
Copyright @ Marketwire
Related Keywords: Mimvi, Inc., Internet, Communications, Digital Audio, Web, Smart Phone, PDA, iPods, iphone, iPad, Search, Research, Google, Sales, Advertising, Sales & Marketing, Internet, Business Issues, Search, Search Engines, Sales, Sales, USA, China, Marketwire, Inc., IT (Information Technology), Apple Computer, Gold, Internet Technology, Biology, Computer Science, Business, Internet, china, Other,