Acquisition Positions CrowdGather as one of the Largest Forum Networks, Resulting in Increased Revenues, Traffic, and Content for CrowdGatherWOODLAND HILLS, Calif., Mar 16, 2010 (BUSINESS WIRE) -- One of the leading networks of forum communities on the Internet,
CrowdGather (OTCBB:CRWG), today announced that it has acquired one of
the largest free forum community hosting platforms, FreeForums.org (www.freeforums.org)
for $1 million in a combination of cash and stock. As a result,
CrowdGather's network of forums will have approximately 80 million
monthly page views and 4.5 million monthly unique visitors according to
Google analytics, an increase of over 500% from the Company's last
quarterly filing with the Securities and Exchange Commission.
"This is a milestone achievement for us," said Sanjay Sabnani,
CrowdGather's Chairman and CEO. "FreeForums.org has built up an
impressive network of forums and we believe that CrowdGather will be
able to successfully monetize these properties by integrating them into
verticals that will appeal to advertisers."
Sabnani continued, "With this acquisition, our network of forums have
grown rapidly from just under nine million page views per month in
fiscal 2008 to 80 million monthly page views currently. Our goal is to
continue to drive growth by focusing on the inherent value of forums and
the richness of the content created by their users. We believe that
forums are the help desk of the Internet and a valuable repository of
answers and experiences."
FreeForums.org owner and founder Phil Santoro commented, "CrowdGather is
exactly the type of company we were looking for when we made the
decision to sell. Few people today recognize that forums have not only
not gone away, they remain one of the most vital, active communities
online. Our motivation was to find an entity that is not only focused on
forums, but also cultivates them and provides the staff and resources to
continue to drive our growth. We believe that CrowdGather is the right
choice, and I am excited to be a new shareholder of the company."
About FreeForums.org
Founded in 2007, FreeForums.org has grown rapidly to become one of the
leading online destinations for free community hosting. FreeForums.org
offers anyone the opportunity to build and host their own dedicated
community for no charge.
About CrowdGather, Inc.
With its growing portfolio of special interest forums and enthusiast
message board communities, CrowdGather (www.crowdgather.com)
has created a centralized network to benefit forum members, forum owners
and forum advertisers. CrowdGather provides a highly interactive and
informational social network for members, a management and
revenue-sharing resource for third-party forum owners, and a largely
untapped advertising network for marketers worldwide.
This press release contains forward-looking statements (as defined in
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended) concerning future
events and the Company's growth and business strategy.Words such
as "expects," "will," "intends," "plans," "believes," "anticipates,"
"hopes," "estimates," and variations on such words and similar
expressions are intended to identify forward-looking statements.
Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be given
that such expectations will prove to have been correct. These statements
involve known and unknown risks and are based upon a number of
assumptions and estimates that are inherently subject to significant
uncertainties and contingencies, many of which are beyond the control of
the Company. Actual results may differ materially from those expressed
or implied by such forward-looking statements.Factors that could
cause actual results to differ materially include, but are not limited
to, changes in the Company's business; competitive factors in the
market(s) in which the Company operates; risks associated with
operations outside the United States; and other factors listed from time
to time in the Company's filings with the Securities and Exchange
Commission. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in the
Company's expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
SOURCE: CrowdGather
CrowdGather
Investor Contact:
Sanjay Sabnani, 818-435-2472 x 101
sanjay@crowdgather.com
Media Contact:
Stacey Sanner, 425-896-8505
staceysanner@hotmail.com
