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Subaye, Inc. Launches Groupbuy

2011-01-18 21:49 2003

GUANGZHOU CITY, China, Jan. 18, 2011 /PRNewswire-Asia/ -- Subaye, Inc. (Nasdaq: SBAY) ("Subaye" or the "Company"), a leading online business services provider in China engaged in enterprise cloud computing, video marketing and business to consumer (B2C) online solutions, today announced the launch of Subaye's Groupbuy. In February 2011, management expects to generate revenues from Groupbuy customers, many of which are already selling products as one of our three daily Groupbuys. Subaye is planning to charge a 3-5% transaction fee for all Groupbuy sales. Groupbuy is being launched as a standalone product and will not be offered as a component of Subaye's Bundled Cloud Product ("BCP"). Groupbuy can be viewed by at http://bjlshop.subaye.com.

Zhiguang Cai, Subaye's Chief Executive Officer, stated "The Groupbuy business model is already succeeding in China with numerous similar websites generating profits. There is clearly still room for significant growth in this particular market. The difference for us is that we already have a strong customer base and we are adept at managing online content and infrastructure in a fast-paced environment. The success of Groupbuy will be based on how fast we can grow this business segment and how many of our current and potential BCP customers will utilize Groupbuy."

About Groupbuy

Groupbuy is a B2C platform modeled after one of the most successful B2C businesses, Groupon. Groupbuy works to match retailers who have specific sale pricing and sales volume goals in mind with a group of potential individual customers who could satisfy the retailer's specific sales pricing and sales volume goals. The customers win because the retailers are able to offer bulk sale pricing to individual customers. A Groupbuy works when a certain number of customers sign up for a retailer's deal. If the predetermined minimum sales volume is met, then all of the customers get the deal. If the minimum is not met then no one gets the deal that day. This reduces risk for retailers, who can treat a Groupbuy as a customer-friendly discount as well as a sales promotion tool. Groupbuy generates a profit by charging a transaction fee for organizing and completing the deal for the retailer. Unlike most other marketing and advertising tools, a Groupbuy does not cost the retailer anything to participate.

About Subaye, Inc.

Subaye, Inc. is a leading online business services provider in China engaged in enterprise cloud computing and video marketing business solutions. Subaye's online business services include business to consumer (B2C) ecommerce, emanagment solutions, emarketing solutions, eservice solutions and video search engine optimization. For further information on Subaye, Inc., please visit http://www.subaye.net.

Forward-Looking Statements

Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Subaye, Inc.'s industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Subaye, Inc.'s operations are conducted in the People's Republic of China ("PRC") and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.

For more information, please contact:

 

 

Company:

James Crane

Chief Financial Officer

Email: jcrane@subaye.net

China: +86-186-2136-3580

U.S.: +1-617-699-6325


Investor Relations:

Michael Feldman

China: +86-136-8166-7375

Hong Kong: +852-9784-1855

 

 

 


Source: Subaye, Inc.
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