GPlusMedia K.K. Receives a $1.36M Equity Investment From IA Global (AMEX:IAO)
TOKYO, August 29, 2007 – GPlusMedia K.K. (“GPlusMedia”), a Tokyo-based internet media company, announced today that it received an equity investment from IA Global, Inc. (AMEX: IAO) in a transaction valued at $1,360,000 or 3,885,713 shares of common stock.
GPlusMedia has offices in Tokyo, Hong Kong and Shanghai, China. The company publishes several of Japan’s best known English-Japanese websites, including GaijinPot.com (“GaijinPot”, www.gaijinpot.com) and Ecentral.jp (“Ecentral”, www.ecentral.jp), the official jobsite of the American Chamber of Commerce in Japan. In China GPlusMedia publishes ChinaSplash.com (“ChinaSplash”, www.chinasplash.com) and CareerEngine.org, a jobsite network, whose partners include ShanghaiExpat.com, the American Chambers of Commerce in Shanghai and Hong Kong, as well as the Canada China Business Council.
The transaction announced today is a part of GPlusMedia’s business plan for rapid expansion through organic growth and strategic partnerships.
The company’s CEO, Elo Kent, said, “We are very excited about this new relationship with IA Global and see it as a key move towards realizing our long term goals. We look forward to working with IA Global’s experienced team as we continue to deliver leading edge products to the Asian market. We have made substantial investments in our products and infrastructure while simultaneously realizing exceptional top line growth. In the coming months we plan to unveil some exciting upgrades to our existing portfolio as well as expand our global network of products.”
The company has enjoyed strong year-on-year growth since its launch in 2001. Since joining in October 2006 Kent has helped implement operational efficiencies and business strategies to set the stage for explosive growth.
Revenue in 2007-08 is expected to increase 150% over 2006-07, to between $3.5million and $4million.
IAO, based in San Francisco, is a strategic holding Company which focuses on growth through mergers and acquisitions in the Pacific Rim region. In Japan, IAO is 100% owner of Global Hotline, Inc., an operator of major call centers for telemarketing of telecommunications and insurance products. Revenues in 2007-08 are expected to more than double year-on-year from $47 to $55 million.
In Australia, the Company has a 36% stake in Australian Secured Financial Limited and its affiliates, Australian Secured Investments Ltd, ADJ Services Pty Ltd. and Auslink Ltd (collectively, “ASFL”).
IAO’s CEO, Derek Schneideman, said, “We are pleased to announce our investment in GPlus. This is just the first step in our 2007 acquisitions plan and moves IA Global into a new and booming industry. We have been extremely impressed by the management team of GPlus and its founders, Erik Gain and Peter Wilson. We have seen exceptional performance and anticipate even greater results in the future.”
- Contact Information
- Elo Kent
- GPlusMedia K.K.
- Contact via E-mail
This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.