VIRURL Announces Signing of LOI for Merger with Revenue.com Corporation
May 30 2014 - 8:00AM
Access Wire
SANTA MONICA, Calif. / ACCESSWIRE / May 30, 2014 / VIRURL, Inc.
("VIRURL" or the "Company"), a native advertising company
developing advertising technology to connect content owners with a
targeted audience on the web, announced today that it has entered
into a Letter of Intent (the "LOI") with Revenue.com Corporation
("Revenue Corp"), a Nevada corporation focused on acquiring best in
class advertising platforms.
Under the LOI, Revenue Corp will secure at least $2.5 million of
equity capital from its institutional investors prior to the merger
with VIRURL. The capital will be used to accelerate product
development, fund working capital to support the Company’s growth,
and take the combined entities public.
"We are excited to partner with the seasoned capital markets
experts at Revenue Corp," said VIRURL CEO, Francisco Diaz-Mitoma.
"The team at Revenue Corp understands the enormous opportunity in
native advertising and VIRURL’s strong position as a pioneer in the
industry. We look forward to growing this relationship as we
aggressively expand our reach with influencers and publishers on
the web."
According to an article by iMedia Connection, eMarketer
estimates that by 2017, sponsorship spending will exceed $3
billion. Major players in the industry include Taboola, which has
350 million unique visitors and boasts 130 billion content
recommendations, as well as other companies that occupy the space
including Outbrain, Sharethrough, and Nanigans. In a recent
MediaPost article, it looked at J.P. Morgan analyst Doug Anmuth and
his perspective on native advertising streaming from the J.P.
Morgan’s annual "Nothing But Net Report". Anmuth stated, "We
believe native ads are quickly becoming the de facto ad format on
mobile and increasingly moving into desktop." He also stated that
for Facebook, native ads made up just 5 to 10% of impressions in
2013, but accounted for more than 60% of Facebook’s overall
revenue.
About VIRURL
VIRURL, Inc. is an award-winning Santa Monica-based startup
developing advertising technology for its REVENUE.COM
platform. REVENUE.COM helps brands amplify the reach of their
content and earns its publishers more money by delivering higher
click-through rates than traditional banner ads. REVENUE.COM is a
self-serve platform that allows brands and online media producers
to easily launch native advertising campaigns in under 60 seconds
using in-stream ads that blend seamlessly into a website's
experience to entertain and inform the right audience at the right
time. To date, REVENUE.COM has signed up over 100,000 influencers
and publishers to earn revenue from distributing sponsored articles
and sponsored videos. For more information visit
www.REVENUE.COM.
About Revenue.com Corporation
Revenue.com Corporation is a newly-formed Nevada Corporation
focused on acquiring best-in-class advertising and content
marketing platforms.
Investor and Media Contact:
Robert Haag
IRTH Communications
idea@irthcommunications.com
866.976.4784
SOURCE: VIRURL, Inc.
Invent Ventures (PK) (USOTC:IDEA)
Historical Stock Chart
From May 2024 to Jun 2024
Invent Ventures (PK) (USOTC:IDEA)
Historical Stock Chart
From Jun 2023 to Jun 2024