Posts Tagged ‘social media’

Quepassa Corp. (QPSA) leaps on myYearbook buyout

Wednesday, July 20th, 2011

Quepassa Corp. (AMEX: QPSA) shares gained 33.5% to $9.52, after the social-media company said it would acquire the owner of myYearbook.com in a cash-and-stock deal worth $100 million. Volume for the stock topped five million shares, compared to a daily average of just over one million.

The company, based in West Palm Beach, Florida and owner of popular Latino social network Quepasa.com and cross-platform social game development studio Quepasa Games, announced in a news release Wednesday that it has executed a definitive agreement to merge with Insider Guides, Inc., DBA myYearbook, the best place to meet new people on the web or mobile device, for $100 million, comprised of approximately $82 million in Quepasa common stock and approximately $18 million in cash.

Quepassa CEO John Abbott was quoted in the same release as saying, “With this merger, we intend to create nothing less than the public market leader in social discovery.Combination with myYearbook nearly doubles the size of Quepasa’s existing user base while positioning the new company for significantly higher growth in mobile and social games, advertising, and virtual currency. The myYearbook team is product-oriented and hungry to continue building innovative products at the convergence of social and mobile. We expect the scale of this combination to enable a new class of investor in Quepasa.

Abbott concluded, “We believe myYearbook’s proven track record in monetization and engagement will fuel significant future growth.”

myYearbook makes meeting new people fun and easy online and on your mobile phone. myYearbook combines innovative social games, virtual goods, social applications, and a robust virtual currency called “Lunch Money” to facilitate introductions and break the ice. myYearbook started in a single high school in 2005 and has grown to over 32.7 million members worldwide.

Onstream Media Corporation (Nasdaq: ONSM) Buzz Stock of the Day

Monday, November 9th, 2009

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Shares of video services provider, Onstream Media Corp. (Nasdaq: ONSM) were up almost 28 percent today after the company announced several new contracts with federal government agencies including the Internal Revenue Service and the Housing Department.

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“Our business relationships with various federal and state governments have never been stronger,” said Randy Selman, President and Chief Executive Officer of Onstream Media in a statement. “As demand for our multi-media web communication products and services continues to increase on the commercial side of our business, we’re also pleased to report continued growth in the government sector, which we expect to continue to rise in the years to come.”

Onstream Media announced that it will provide its comprehensive Digital Media Services Platform (DMSP) and live and on-demand webcasting services for ongoing education and targeted outreach delivery services for the Internal Revenue Service. The IRS will use Onstream Media’s technology to communicate important tax information to tax professionals, small businesses, and self-employed taxpayers in more dynamic, web-friendly and innovative formats such as podcasts, webinars, live broadcasts or other forms of web-based media.

Additionally, the company announced an agreement with strategic partner REJ & Associates, Inc. to provide Webinar services to the U.S. Department of Housing and Urban Development’s Federal Housing Administration (FHA) Philadelphia Homeownership Center (HOC).

Onstream Media is also subcontracted to provide audio-based web conferencing services that enable FHA to bring employees and other participants from around the country together for online workshops, seminars and trainings. REJ & Associates, Inc. is a leading provider of integrated marketing and communications services based in Baltimore, MD.

Lastly, the NRC has exercised its first one year option to renew and extend its multi-year agreement with Onstream Media to provide ongoing webcasting, streaming media and multi-media services. The company began providing the NRC with its webcasting services in March, 2008.