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
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 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.
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.
David Houston, 408-615-8496
Erica Rutan, 908-684-4332