July 6, 2010

DubLi.com Successfully Launches Global Auction Portal and Australian Portal

BOCA RATON, FLORIDA – July 6, 2010 – MediaNet Group Technologies, Inc. (OTCBB: MEDG) today announced that its wholly-owned subsidiary, DubLi.com, Ltd. successfully launched its previously announced Global Auction Portal and Australian Auction Portal in late June. DubLi.com now offers four auction platforms; including the two existing platforms in the North America and the European Union, and two new platforms, one for Australia and the Global platform serving the balance of the world.

Highlights of the Multi-Platform strategy include:

  • Giving users from around the world the ability to bid against each other simultaneously on select products with the price of those products reducing, in real-time, on all four platforms.
  • Generating increased bidding activity and creating additional buying opportunities.
  • Increasing the activity from worldwide bidders, in every time zone, 24 hours a day provides for greater ability to add state-of-the-art luxury products and travel adventures.
  • Allowing customers to view auction items in their own local currencies.
  • Enhanced features and benefits that make the auctions more user friendly including a calendar showing how long the auction has been running
  • Worldwide shipping to most countries based upon specific product selection criteria.

Michael Hansen, President and Chief Executive Officer of MediaNet Group Technologies and the founder of DubLi.com stated, “Today we announce the successful launch of a global shopping revolution. We believe we are the first to offer consumers around the world a new and better way to get the most for their money while shopping online through the reverse auction platform. With DubLi.com, shopping online will no longer be bound by borders, time zones, language or currency. We are proud to offer the global shopping community a new way to find named brand products at a fraction of the price in an environment that is fun, exciting and easy to use.”

About MediaNet Group Technologies, Inc.:

MediaNet Group Technologies, Inc. is a publicly held company and trades on the over the counter bulletin board (“OTCBB”) under the symbol MEDG. Additional information about the Company is available in its filing with the Securities and Exchange Commission at www.sec.gov.

MediaNet Group Technologies, Inc. is a global marketing company that sells high end branded merchandise to consumers through Internet-based auctions conducted under the trade name “DubLi.com.” Our online auctions are conducted in Europe, North America, Australia/New Zealand and to the rest of the world through our Global Portal. These auctions are designed to offer consumers real savings on these high end goods. The Company has a large network of independent business associates that sell “credits”, or the right to make a bid in one of our auctions. The Company, through its BSP Rewards subsidiary, also offers private branded loyalty and reward web malls where members receive rebates (rewards) on products and services from participating merchants.

Except for historical matters contained herein, statements made in this press release are forward-looking. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate”, or “continue” or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.

Investors and others are cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, the risk of (i) an inability to establish and/or maintain a large, growing base of business associates; (ii) an inability to develop and/or maintain brand awareness for our online auctions; (iii) a failure to maintain the competitive bidding environment for our online auctions; (iv) a failure to adapt to technological change; and (v) a failure to improve our internal controls. The Company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2010.

Close window | Back to top

Copyright 2018 Ominto, Inc.