LiveWorld Transitions Out of Community Center Business And Reconfirms 2013 Guidance
May 24 2013 - 4:30PM
Business Wire
LiveWorld, Inc. (OTC Markets: LVWD), today announced that it is
focusing on its broader social media presence and will spend fewer
resources on the development and deployment of its Community Center
solution set. Consistent with this transition, the company expects
its contractual relationship with eBay to end during the summer
2013.
“We have had a wonderful working relationship over the years,
and we look forward to their continued success,” said David
Houston, Chief Financial Officer of LiveWorld. “This transition is
consistent with our continuing business shift from solutions based
on our proprietary central community web platform to solutions
focused on the greater social web.”
We maintain a positive outlook for 2013, and our backlog as of
April 1st was approximately $9.0 million for the remainder of the
year, as compared to the $8.3 million in backlog for the same
period in 2012. The $9.0 million includes revenues from eBay of
approximately $621,000 as the associated contract is expected to
end June 30, 2013. The $8.3 million in backlog for 2012 included
approximately $1.7 million from eBay. We are continuing our
strategy to transition from solutions focusing on community sites
to solutions focusing on the broader social web, which now
represent the majority of our revenue growth. We therefore
anticipate revenues from our community center business to continue
to diminish over time.
LiveWorld Solutions
LiveWorld is a social content marketing company providing
moderation, insight and engagement solutions for Fortune 1,000
brands. Our social media solutions provide a human touch scaled by
technology that creates value out of user content, and provides big
cost savings.
LiveWorld is a Facebook ® Preferred Marketing Developer (PMD) in
the Pages category.
About LiveWorld
LiveWorld, a social content marketing company, is a trusted
partner to the world’s largest brands, including the number-one
companies in retail, CPG, pharmaceutical, and financial/travel
services. We revolutionize the management of user content through
innovative technology, leading-edge services, and deep integration
with client marketing and customer support teams. Scaling human
review of user content and human touch points, LiveWorld removes
obstacles faced by brands, allowing them to engage more deeply in
social media. In an innovative approach that encompasses review,
management, and analysis of user content, LiveWorld provides 24/7
brand protection through “always on” moderation and engagement
across social channels, applications, and sites. The LiveWorld
solution offers competitive advantage through management of user
content in sheer volume, resulting in amplified brand presence,
actionable insight, and increased customer loyalty. LiveWorld is
headquartered in California, with offices in San Jose, CA and New
York City, NY. For more information, go to www.liveworld.com.
Follow us at @LiveWorld.
“Safe Harbor" Statement Under The
Private Securities Litigation Reform Act
This press release may contain forward-looking information
concerning LiveWorld's plans, objectives, future expectations,
forecasts and prospects. These statements may include statements
regarding LiveWorld’s current or future financial performance
including but not limited to its outlook for 2013, revenue and
profit, including our expectations regarding revenue from our
community center business, use of cash, investments, relationships
and the actual or potential impact of stock option expense, and the
results of its product development efforts. LiveWorld’s ability to
attract new clients and preserve or expand its relationship with
existing clients, LiveWorld’s ability to retain and attract high
quality employees, including its management staff, the ability to
deliver new innovative products in a timely manner, changing
accounting treatments, and other risks applicable to the Company.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and the Company undertakes no obligation to update these
forward-looking statements to reflect subsequent events or
circumstances.
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