SOURCE: Burke Capital Corporation

Burke Capital Corporation

June 11, 2013 10:00 ET

Burke Capital Corporation Court Auction of Business Assets of Social Internet Company

BURLINGAME, CA--(Marketwired - Jun 11, 2013) -  Burke Capital Corporation (BCC): On June 6, 2013 the United States Bankruptcy Court for the Central District of California, Los Angeles Division entered an order approving bidding procedures for the sale of substantially all of the business assets of The court order and details related to the auction may be found at

Founded in 2005,, a San Francisco based company, quickly became one of the world's innovators of social media channels. The company continued to invent and implement several creative social media applications which many consider benchmarks for some of today's leading social media services.

"This is an opportunity for a qualified buyer who understands the business potential and global market opportunity of a social media portal that can offer and provide the capital and management skills to drive differentiated competitiveness within the global growth market," stated Michael Ong of Burke Capital Corporation, the Court-Appointed-Receiver of "The sheer size of the global social technology market holds great economic potential for the right buyer. has a global client base, the media applications and the operations platform to compete in this environment," concluded Ong.

According to a recent 2012 study by McKinsey Global Institute there is a potential of $900 billion to $1.3 trillion in annual value that could by unlocked by social technologies in the four sectors of consumer packaged goods, consumer financial services, professional services and advanced manufacturing services.

The report also pointed out the following statistics on social media:

  • Over 1.5 billion social network users globally
  • 80% of total online users regularly interact with social media
  • 70% of companies report using social technologies
  • 90% of companies using social technologies reported business value

"This is an opportunity for the right investor to purchase a social media company and gain immediate access to one of the most significant socio-economic markets in our lifetime," noted Ong. As an example, in May 2013, Facebook logged its 900 millionth user and continues to grow by accessing new social media markets and applications.

Bid Deadline and Bid Requirements:
All bids must be submitted to William F. Govier of Lesnick Prince and Pappas LLP, 315 W. 9th Street Los Angeles, CA. 90015. Fax: 310.396.0963. email:; so that they are received no later than June 27, 2013 (the 'Bid' Deadline). Bids from parties that are not Qualified Bidders may be discarded. For a complete listing of bid timelines and requirements please go to:

About Burke Capital Corporation:
Burke Capital Corporation is one of the region's most highly respected catalysts to business prosperity. For over twenty years, Burke Capital Corporation has provided capital, expertise and management to enable significant client performance gains, often in very challenging times. The company is based in Burlingame, California, located at 1021 Burlingame Avenue. For more information go to

Contact Information

  • For Information Contact:
    Michael Ong
    Direct Line: 650.988.9650
    Email: Email Contact