SOURCE: Clearance.co

Clearance.co

June 17, 2014 09:08 ET

Clearance.co Surpasses 500,000 Members Since its Launch in April 2013

SAN FRANCISCO, CA--(Marketwired - June 17, 2014) - Los Angeles based e-commerce startup Clearance.co, a subsidiary of Development Capital Group, Inc. (OTCQB: DLPM) grew to 550,000 users in its first year, with an average purchase order of over $60 per customer.

Founder and CEO, Shahbod Rastegar, said: "Although we have an ambitious growth strategy, we realize that customer retention is the key to our business. Our mindset is to constantly improve our customer's user experience."

The flash-sales site sells personal goods such as clothing, accessories, electronics, and home furnishings at discounted prices, but users must first register before taking advantage of the sales. Clearance.co members can also expect daily emails introducing new products and events.

About Clearance.co:

Clearance.co is revolutionizing the shopping experience by bringing customers the finest quality, the best selection, the best service, and the lowest priced merchandise. Working directly with manufacturers and distributors, Clearance.co is the premier online destination for closeout and clearance products.

Clearance.co is headquartered in Los Angeles, California.

About Development Capital Group:

Development Capital Group, Inc. (OTCQB: DLPM) invests in and develops businesses and technologies with significant potential for growth and customer acquisition. Analyzing market trends and looking for opportunities to leverage in-depth understanding of technologies to create efficiencies for under-serviced sectors. DLPM's mandate is to execute with businesses or teams that have proprietary tools or intellectual property but require funding and business development to grow the business and market share.

Development Capital Group recently announced its acquisition of Clearance.co, one of the fastest growing startup ecommerce websites in the world, acquired for approximately USD 40 million in an all-stock transaction.

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Safe Harbor Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's results of operation, financial position and long-term strategies. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, and fraud. More information about factors that potentially could affect the Company's financial results are included in the Company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-Q or 10-K and subsequent filings. Furthermore, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other occurrence.

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