Attached files
EXHIBIT 99.1
$TDCH, 30 DC ACQUIRES BUSINESS ASSETS FROM NETBLOO MEDIA - THE REMAINING 50%
OF MAGCAST DIGITAL PUBLISHING PLATFORM JOINT VENTURE AND 100% OF MARKET PROMAX
IN AN ALL-STOCK TRANSACTION.
New York, NY, January 7, 2013, 30DC, Inc. (OTC: TDCH), a provider of web-based
tools for the monetization of digital content and 50% joint venture owner of the
rapidly growing MagCast Publishing Platform announced today it has acquired the
remaining 50% of the MagCast platform from Netbloo Media Ltd together with the
outright purchase of the Market ProMax online marketing platform in an all-stock
transaction.
The MagCast joint venture was formed in May of 2012 between 30DC and Netbloo to
develop and market a publishing platform to publish digital magazines on Apple
Corporation's Apple Newsstand. Market ProMax is an online marketing platform
that allows for the development and distribution of digital products without
requiring any programming or technical skills.
Under the terms of the agreement 30DC will book 100% of all MagCast Sales and
license fee revenue since October 1st 2012, and will be responsible for all
related costs as of that date. 30DC will also bring to account all monthly
subscription revenue from Market ProMax since October 1, 2012.
30DC has acquired Netbloo's interest in the MagCast joint venture and the Market
ProMax business, in exchange for 13,487,363 shares in 30DC. The acquisition
includes all assets required or used to operate the MagCast Publishing Platform,
all new business projects currently in development. Intangible property includes
websites and domain names, blogs, social media sites, files and source code,
software, trademarks, trade names, brand names, goodwill, customer lists, e-mail
and any other contact lists, operating manuals, technology plans, applications,
contracts, warranties, leases, rights, and all the assets constituting the
Market ProMax business.
30DC is also delighted to announce that Jonathan Lint an online entrepreneur and
CEO of Netbloo Media, has agreed to join the company as the Vice President of
Strategic Systems reporting to Ed Dale CEO and that his company Netbloo Media
will continue to be contracted to provide software and Internet application
development services to 30DC for MagCast, Market ProMax and other new business
opportunities.
Commenting on the transaction, Mr. Dale noted, "Acquiring the remaining MagCast
joint venture interest and Market ProMax is a watershed for the company.
Following our recent product launch and market acceptance, we are now focused on
enhancing and growing the MagCast platform and overlaying it with a growing
range of goods and services to our publisher community and their consumers to
help maintain our competitive position as the premier digital publishing
platform for the self publishing market."
Mr. Lint elaborated further, "The initial joint venture and release of the
MagCast platform to the Internet marketing community demonstrated not only the
effectiveness of the MagCast platform but also clearly showed the ability of my
team and 30DC to work together effectively. I'm delighted to be joining 30DC
with the exciting new business development plans that we have in the pipeline
for MagCast as well as the opportunity to drive the growth of the Market ProMax
platform."
About 30DC, Inc. (http://www.30dcinc.com)
30DC provides web-based tools for the monetization of digital content. The
Company produces the following tools: MagCast Publishing Platform - offers an
apps development and maintenance tool for publishers seeking to circulate
content on a single issue or subscription basis. MagCast utilizes Apple's
marketplace for digital media, Newsstand as the customer interface, which
provides electronic distribution and collects revenue: http://www.magcast.co.
Market ProMax - allows anyone to sell digital products without any programming
knowledge or technical expertise: http://www.marketpromax.com The Challenge - a
free module-based training program designed for individuals looking to learn
about Internet marketing at their own pace. To date the education program has
schooled more than 190,000 individuals, and currently has approximately 100,000
active online members:
http://www.challenge.co.
Immediate Edge - one of the longest running subscription-based Internet
marketing programs on the web. Immediate Edge serves as a research and
development department for hard core Internet marketers to stay up-to-date with
the latest industry trends on Internet Marketing and learn the most innovative
ways of making money online: http://www.immediateedge.com.
This press release contains "forward-looking statements" within the meaning of
various provisions of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, commonly identified by such terms as "believes,"
"looking ahead," "anticipates," "estimates" and other terms with similar
meaning. Specifically, statements about the Company's plans for accelerated
growth, improved profitability, future business partners, M&A activity, new
service offerings and pursuit of new markets are forward looking statements.
Although the company believes that the assumptions upon which its
forward-looking statements are based are reasonable, it can give no assurance
that these assumptions will prove to be correct. Such forward-looking statements
should not be construed as fact. The information contained in such statements is
beyond the ability of the Company to control, and in many cases the Company
cannot predict what factors would cause results to differ materiall y from those
indicated in such statements. All forward-looking statements in the press
release are expressly qualified by these cautionary statements and by reference
to the underlying assumptions.
For additional: Ted Greenberg CFO 30DC, Inc. Phone: 212-962-4400 Ext 83
E-mail: ted.greenberg@30dcinc.com or visit http://www.30dcinc.com
Source: 30DC, Inc
