VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 22, 2013) - LX Ventures Inc. (TSX VENTURE:LXV) ("LXV" or the "Company") is pleased to announce the official launch of Mobio ("Mobio"), a portfolio company of LX Ventures. Since acquiring the assets of Mobio in May, 2013, LXV has completed beta testing with a leading pop music star and has been enhancing the usability and functionality of the platform for its official launch on December 1, 2013.
Mobio is an HTML 5.0 social media engagement platform designed for key influencers with a large social network of followers. Mobio allows simultaneous updates and inbound links from a variety of leading social media platforms and provides a powerful 2-way interactive fan engagement tool allowing celebrities and their online fans the opportunity to interact. As part of this official launch, Mobio will be unveiling over the coming days and weeks a lineup of famous key influencers from music, tv, film, modeling and sport.
The stats speak for themselves: celebrities are vital to a social media's success as a platform. The top 100 Twitter accounts, as ranked by number of followers, average more than 14 million followers each or more than 1.4 billion combined users in total. Yet, there are only some 500 million registered users on Twitter with about half of those being active. Approximately 70 of these top 100 users are celebrities. This illustrates that these top users cover a majority of the user base and are vital for the success of platforms such as Twitter. Twitter recently announced plans for an IPO on the NYSE in November at a valuation of approximately $15 billion dollars and will trade under the symbol TWTR. How much is Twitter paying its top users to drive traffic? Nothing in many cases.
These power users are inundated and overwhelmed with incoming fan requests and are largely unpaid for all the traffic and engagement that they drive through traditional social networks. Mobio's platform addresses both aspects by deploying a powerful 2-way fan engagement and interaction function that reduces the noise and can save hours per day reading and replying to incoming requests. Mobio solves the second aspect by providing a mechanism for key influencers to generate revenue from social updates and posts by inserting ad unit engagements that are achieving engagement rates (views and clicks) not seen before by traditional social platforms like Facebook or Twitter.
Mark Binns, President of Mobio, said, "The official launch of Mobio is perfectly timed for social media. The currency of social influence has never been higher as seen by the upcoming Twitter IPO, yet the stars aren't easily able to monetize their networks currently. Mobio is about to change the game. Mobio gives stars improved fan interaction, revenue streams and makes their lives easier at the same time - and they are lining up for the launch on December 1st already."
"Mobio is proof of LX's business model of acquiring and unlocking value in assets that we can accelerate with our in-house team and large partner network. Similar to how Adwords enabled the monetization of content for bloggers, Mobio is enabling social media influencers to generate revenue through their posts, shares, and likes," said Mike Edwards, CEO of LX Ventures.
About LX Ventures
LX Ventures is a publicly traded technology accelerator that acquires, integrates and accelerates high growth technology companies. We are vertically integrated with internal best-in-class practice area teams in sales, marketing, engineering and finance that are leveraged to turn our portfolio companies into industry leading organizations, one by one. We are in the business of building businesses. For further information about LX Ventures, please visit: www.lxventures.com.
Mobio's flagship product, Mobio INsider, is a leading fan directed content network that rewards fans with content they have a hand in creating from the stars they love and connects brands to their desired audiences. The platform successfully reaches the youth demographic through a highly engaging social experience, while increasing the star's social media following and boosting awareness of brand partners. The company is headquartered in Vancouver, British Columbia. To learn more, please visit www.mobio.net.
ON BEHALF OF THE BOARD
LX VENTURES INC.
Mike Edwards, President & CEO
CAUTIONARY NOTE: FORWARD-LOOKING STATEMENTS. Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of LX are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by LX are those risks described herein and from time to time, in the filings made by LX with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com.
Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.