Bitzio, Inc.
OTC Bulletin Board : BTZO

Bitzio, Inc.

August 04, 2011 09:15 ET

Bitzio, Inc. Acquires Digispace Solutions, LLC

Acquisition of Internet Marketing Leader Creates Powerful Combination in Social Media and Smartphone Markets

SAN DIEGO, CALIFORNIA--(Marketwire - Aug. 4, 2011) - Bitzio, Inc. (OTCBB:BTZO) today announced that it entered into an agreement to acquire Digispace Solutions LLC ("Digispace"), an online performance-based advertising company that develops and deploys proprietary technologies and algorithms for the discovery, creation, and optimization of all types of online marketing. Bitzio continues on its aggressive acquisition strategy and expands its footprint further into the social media and smartphone markets.

This year Digispace was recognized as one of the fastest-growing private companies in America by Inc. Magazine. In 20101, it also made the prestigious ranking with its 3-year, 609% revenue growth, joining the ranks of other Inc. 500 companies such as Zappos.com, Go Daddy, Jamba Juice and Oracle. Each year, the ranking identifies companies whose outstanding achievements in their industry set them apart and make them one of today's entrepreneurial successes.

"Digispace is a tremendous addition for us as it brings unique, proven technologies and a product launch methodology together with our existing application development and management assets," said Gordon McDougall, CEO of Bitzio. "Experts are forecasting that mobile application downloads will rise from 10.9 billion in 2010 to 183 billion by 20152. The powerful engine of Digispace,with their proprietary launch and optimization methodologies, significantly enhances our ability to capture a much broader scope of that market."

McDougall further added, "With its unaudited revenues of over $4.6 million in 2010, Digispace not only increases Bitzio's top line but also dramatically advances us towards achieving our goal of being the premier mobile applications company that is a key driving force in a completely new mobile community."

"We are very pleased with our new partnership as I see great synergy between us and Bitzio's aggressive acquisition plans in the social media, networking, and mobile applications space. Additionally, their plans for application development and personalized optimization through data and analytics are exactly what our platforms were designed to deliver," said Jose Rivera, co-founder of Digispace.

Adds Amish Shah, co-founder and CEO of Digispace, "Combining the talent and vision of Bitzio with the technologies, talent and customers of Digispace creates something completely unique in the mobile applications industry - something we're sure other developers will see huge leverage and value in as we deploy our affiliate marketing suite in the coming months."

  1. Inc. 500- 2010, Inc. Magazine, © 2011 Mansueto Ventures LLC
  2. IDC Forecasts Nearly 183 Billion Annual Mobile App Downloads by 2015: Monetization Challenges Driving Business Model Evolution, June 28, 2011, International Data Corporation (IDC), published by Businesswire

About Bitzio, Inc.

Bitzio, Inc. is a company with a strong focus on smartphone applications, social media and marketing optimization. We work with developers of mobile applications to dramatically improve their marketing reach, sales conversion, revenue and bottom line profits. We envision a mobile community where mobile applications enable people to connect in new and meaningful ways, and where Bitzio is a key driving force enabling these connections. For more information on the company, visit us at www.bitzio.com.

About Digispace Solutions, LLC

Digispace Solutions, LLC is an online performance-based advertising company offering a variety of services to assist in the development of a company's online presence, marketing, tracking and customer management. Digispace provides proprietary web technologies to power online strategies and solutions. For more information on the company, visit us at www.digispace.com.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. In many cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential", or "continue", or the negative of these terms and other comparable terminology. These statements are only predictions. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a number of factors. The forward-looking statements made in this press release relate only to events as of the date of this release. We undertake no ongoing obligation to update these statements.

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