SOURCE: Godfather Media, Inc.

November 02, 2011 08:00 ET

Godfather Media, Inc. Signs Term Sheet to Acquire a Minority Interest in Social Ecommerce Company LovingEco, Inc.

MISSION VIEJO, CA--(Marketwire - Nov 2, 2011) - Godfather Media, Inc. (PINKSHEETS: ENKG) announces the signing of an agreement to acquire a minority interest in LovingEco, Inc. ("LovingEco"), Los Angeles, CA. The company is engaged in ecommerce in the social media industry for conscious consumption.

LovingEco, Inc. was founded by two successful female technology entrepreneurs, Justine Lassoff and Melinda Moore, and launched as a members-only, social commerce platform that offers unsurpassed and innovative eco-friendly and natural products at exclusive price points (up to 70% off retail). LovingEco is an advocate of 'Style for Change;' an opportunity for people to make smarter choices about the products they purchase so that together, we can create a more environmentally and socially conscious planet.

Through a series of limited-time and brand-specific sale events, LovingEco members are given the opportunity to shop for eco-friendly, fair trade and natural products at a discounted price in fashion and accessories, beauty and home decor. Each sale features the best 'natural' brands from top-notch companies, which are hand-selected and available on a first-come, first-serve basis. LovingEco brings exclusive sales and products regularly to their members, allowing a unique, one-of-a-kind, shopping experience. LovingEco has a core group of valued partners, including noteworthy investors, influential tastemakers from the Hollywood and eco communities and the leading vendors in the green sector. Tastemaker and celebrity partners include: actress and activist Melora Hardin from "The Office" and new TBS series "The Wedding Band;" actress and activist Maria Bello's exclusive jewelry collection to support her Haitian charity WE ADVANCE; organic and celebrity chef Akasha Richmond from AKASHA Restaurant and many other successful eco entrepreneurs, actresses and top fashion bloggers. Additionally, 3% of net proceeds from each purchase are donated to the current 'tastemaker charity' to help support a social or environmental cause.

"The investment in LovingEco, Inc. is Godfather Media's third term sheet which brings us to the half way mark of our investment goal of 6 companies in a 12 month plan," commented Michael Cummings, Godfather Media's Chief Executive Officer. "I consider this a terrific opportunity to team up with LovingEco and believe this investment will play a significant role in Godfather Media's growth. Through the strengths of our newly invested platform and the experienced staff that operates LovingEco, we expect to achieve continued growth and success to meet the ever growing market demand, establishing Godfather Media as a national leader in the mobile and social media market." He added, "Other private member-sales companies have substantial market valuations, including Zulily, launched in 2010 with a valuation of $750 million, Hautelook, acquired by Nordstrom for $270 million in February 2011 and Rue La La acquired in October 2009 with a market valuation of $350 million, validating the value and interest in this industry sector."

LovingEco CEO Justine Lassoff commented, "LovingEco has already created a vibrant community of conscious consumers, and developed strong tastemaker, charity, vendor and distribution partners. With Godfather Media we are excited to continue our growth, and also leverage the strategic relationships from their platform for mobile and social commerce."

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About Godfather Media, Inc.

Godfather Media, Inc. plans on growing its new business by acquiring interest in companies in mobile and social media, with talented executive management teams, smart mobile and social media products and services having a business model that generates revenues and are profitable. Our philosophy is that through a strong management team a strong company can be built, whether the acquired businesses are start-ups, in the later development stages, fully-operating entities with positive cash flow or distressed companies in need of our management's expertise to achieve turn around.

Godfather Media Inc. will offer these subsidiaries financial assistance, critical strategic support and management support from an experienced team, to support and grow them. Our shareholders will be updated on a quarterly and annual basis via newsletters, teleconferencing and press releases whenever material events occur.

About LovingEco, Inc.

LovingEco, Inc. was founded by two successful female technology entrepreneurs, Justine Lassoff and Melinda Moore, backed by a seed round of funding from strategic technology and social media executives led by angel investor Allen DeBevoise, the CEO of Machinima, investor in StyleHaul and former investor in HauteLook. LovingEco was launched as a members-only, social commerce platform that offers unsurpassed and innovative eco-friendly products at exclusive price points (up to 70% off retail). LovingEco is an advocate of 'Style for Change;' an opportunity for people to make smarter choices about the products they purchase so that together, we can create a more environmentally and socially conscious planet.

FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the Mobile and Social Media industry; the positioning of Godfather Media in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Godfather Media can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.

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