Attached files
| file | filename |
|---|---|
| 8-K/A - RVUE HOLDINGS, INC. | v207370_8ka.htm |
Exhibit 99.1
FOR IMMEDIATE
RELEASE
rVue
Raises $2.6 Million in Equity Financing
Financing
and Additional Board Members to Fuel
Continued
Rapid Expansion of Demand-Side Platform Technology
Fort Lauderdale, Florida – January 5,
2011 - rVue Holdings, Inc. (OTC:RVUE) (“rVue”)
today announced that the Company has raised approximately $2.6 million in equity
financing to continue the expansion of its rapidly-growing real-time ad
platform. The funds will be utilized to fuel further investment in the Company’s
rVue™ Demand-Side Platform (DSP) technology, including new product
development and the expansion of Managed Services.
The rVue platform offers
advertising agencies single-point buying access to Digital Out-of-Home (DOOH)
screens throughout the United States and Canada. Digital Out-of-Home advertising is any type of
digital advertising that reaches the consumer while they
are outside the home, such as digital displays. In addition, rVue
provides a comprehensive set of ad management capabilities for the execution and
optimization of both real-time and directly negotiated media buys. DOOH industry
insiders have estimated that by 2012, more than 20% of digital display
advertising will be purchased via real-time online bidding.
Mr.
Robert Roche, an entrepreneur, attorney and private equity investor, led the
investment along with Mr. Patrick O’Donnell, former CTO of UBS Investment Bank,
private investor and entrepreneur. Mr. Roche is the co-founder and Executive
Chairman of Acorn International, the largest TV shopping company in China
(NYSE:ATV) as well as the co-founder and Chairman of Oak Lawn Marketing, the
largest infomercial company in Japan with approximately 1,000 employees. Among
his other accolades, Mr. Roche was recently appointed by President Obama to the
President's Advisory Committee for Trade Policy and
Negotiations. Neither Mr. Roche nor Mr. O’Donnell received any
compensation in connection with the offering.
Additionally,
on December 21, 2010, rVue’s Board of Directors approved the appointment of
Michael F. Mullarkey and Patrick J. O’Donnell to serve on rVue’s Board of
Directors, effective immediately. Mr. Mullarkey, a partner in ODK Capital
Management and a founder of Workstream Inc., a SaaS provider of human resource
capital management, and Mr. O’Donnell will serve as independent members of the
Board of Directors, joining Chairman of the Board Jason Kates.
Pat
O’Donnell commented, "The massive market opportunity created by rVue through the
combination of real-time advertising, a highly differentiated technology
platform and an experienced leadership team, makes rVue the kind of company that
we support."
1
Exhibit 99.1
"I view
rVue as a clear leader in the emerging real-time bidding space in the Digital
Out-of-Home market,” commented board member Michael Mullarkey. “I
look forward to working with the Company to accelerate the availability of
real-time media buying through its DSP technology, thereby leading the evolution
of the DOOH advertising market.”
rVue is
led by DOOH pioneer Jason Kates, one of the original DOOH network developers and
operators. The Company has experienced dramatic growth since it was founded over
one year ago with more than 90 DOOH networks, using the rVue real-time ad
platform, including eight of the top 15 leading digital networks.
"rVue is
proud to have built the ad technology platform to power the exciting real-time
bidding market that has emerged in the DOOH market," said Jason Kates, CEO of
rVue. "Our clients, including premier ad agencies, are provided access to the
finest technology infrastructure for capitalizing on the real-time revolution
across DOOH as well as other emerging platforms. I would like to thank our
investors for the confidence and support they have shown our game-changing
technology and team."
About
rVue Holdings, Inc.
rVue
Holdings, Inc., through it’s wholly-owned subsidiary rVue, Inc., is an
advertising technology company which includes the only demand-side platform for
planning, buying and managing Digital Out-of-Home and Place-Based Media in its
suite of technology. The Company’s vision and expertise in building rVue
provides unrivalled capability for delivering the right advertising message to
the right audience with pinpoint accuracy and creates substantial opportunities
for the Digital Out-of-Home and advertising industries. rVue’s Demand-Side
Platform takes a unique approach to addressable advertising delivery and
measurement and its extensive portfolio of intellectual property supports
reporting and analytics. The Company’s innovations in content delivery solutions
and intellectual property development in targeted demographic media is the
foundation for a wide array of advanced advertising capabilities. Digital
technology has revolutionized media and rVue is making targeted addressable
advertising more efficient, more effective and more available. Visit www.rVue.com for more
details.
Forward
Looking Statements
This
press release contains “forward looking statements” within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
The statements contained in this press release that are not purely historical
are forward-looking statements. Forward-looking statements give the Company’s
current expectations or forecasts of future events. Such statements are subject
to risks and uncertainties that are often difficult to predict and beyond the
Company’s control, and could cause the Company’s results to differ materially
from those described. The Company is providing this information as of
the date of this press release and does not undertake any obligation to update
any forward looking statements contained in this press release as a result of
new information, future events or otherwise. We have based these
forward looking statements largely on our current expectations and projections
about future events and financial trends affecting the financial condition of
our business. Forward looking statements should not be read as a
guarantee of future performance or results, and will not necessarily be accurate
indications of the times at, or by, which such performance or results will be
achieved. Important factors that could cause such differences
include, but are not limited to the Risk Factors and other information set
forth in the Company’s Current Report on Form 8-K/A filed on December 3, 2010,
and in our other filings with the Securities and Exchange
Commission.
2
Exhibit
99.1
Press
Contact:
Dawn
Rahicki
Tel:
954-769-5298
Email:
dawn.rahicki@rVue.com
www.rVue.com
3