omniture

Subaye, Inc. Announces $74.4 Million in Recurring Annualized Revenues as of December 31, 2010

2011-01-22 01:24 1664

GUANGZHOU, China, Jan. 22, 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 announced today that its bundled cloud product ("BCP") customers grew to 14,546 as of December 31, 2010, which represents an increase of $6.1 million in annualized revenues since the launch of Subaye's new business model on September 1, 2010. The current level of 14,546 BCP customers generates a monthly run rate of approximately $6.2 million in revenues per month, or $74.4 million annually.

Since September 30, 2010, Subaye has generated customer growth in 23 of 27 markets the Company is now operating within. Below is a table summarizing Subaye's current customer base and customer growth.


 

 

 

Number of Paying Customers

 

Growth Rate

 

 

Regions:

 

9/30/10

 

10/31/10

 

11/30/10

 

12/31/10

 

11/30-
12/31

 

 

FY 2011
To Date

 

 

Guangdong

 

7,527

 

7,538

 

7,992

 

8,117

 

2%

 

 

8%

 

 

Hunan

 

742

 

745

 

751

 

771

 

3%

 

 

4%

 

 

Anhui

 

432

 

439

 

447

 

455

 

2%

 

 

5%

 

 

Jilin

 

--

 

--

 

19

 

22

 

16%

 

 

100%

 

 

Jiangxi

 

342

 

355

 

313

 

320

 

2%

 

 

-6%

 

 

Hainan

 

371

 

378

 

389

 

390

 

0%

 

 

5%

 

 

Guangxi

 

321

 

332

 

340

 

346

 

2%

 

 

8%

 

 

Yunnan

 

134

 

123

 

124

 

132

 

6%

 

 

-1%

 

 

Guizhou

 

13

 

19

 

21

 

25

 

19%

 

 

92%

 

 

Hubei

 

623

 

633

 

641

 

657

 

2%

 

 

5%

 

 

Chongqing

 

132

 

141

 

147

 

149

 

1%

 

 

13%

 

 

Henan

 

367

 

333

 

337

 

339

 

1%

 

 

-8%

 

 

Sichuan

 

498

 

502

 

504

 

518

 

3%

 

 

4%

 

 

Shanghai

 

--

 

--

 

--

 

10

 

100%

 

 

100%

 

 

Jiangsu

 

--

 

--

 

14

 

26

 

86%

 

 

100%

 

 

Fujian

 

576

 

577

 

529

 

536

 

1%

 

 

-7%

 

 

Zhejiang

 

598

 

671

 

616

 

627

 

2%

 

 

5%

 

 

Tianjin

 

--

 

--

 

17

 

21

 

24%

 

 

100%

 

 

Beijing

 

--

 

--

 

15

 

19

 

27%

 

 

100%

 

 

Shandong

 

339

 

354

 

359

 

363

 

1%

 

 

7%

 

 

Shanxi

 

423

 

431

 

434

 

451

 

4%

 

 

7%

 

 

Liaoning

 

12

 

111

 

101

 

114

 

13%

 

 

850%

 

 

Heilongjiang

 

--

 

--

 

11

 

19

 

73%

 

 

100%

 

 

Neimonggu

 

77

 

79

 

79

 

88

 

11%

 

 

14%

 

 

Gansu

 

4

 

9

 

9

 

13

 

44%

 

 

225%

 

 

Sanxi

 

--

 

--

 

--

 

8

 

100%

 

 

100%

 

 

Qinghai

 

--

 

--

 

--

 

10

 

100%

 

 

100%

 

 

Total

 

13,531

 

13,770

 

14,209

 

14,546

 

2%

 

 

8%

 

 

Aixi.net SMEs

 

 

 

3,123

 

3,261

 

4%

 

 

100%

 

 

 

 

 

 

 

 

 

 

 

 

 
Acquisition of Aixi.net Assets

On October 25, 2010, Subaye acquired the assets of www.aixi.net. These assets primarily included a customer list of 42,731 small and medium sized businesses (the "Aixi SMEs") located in Guangdong Province, China. Subaye has previously stated its internal target of converting at least 8,546 and 17,092 of the Aixi SMEs to paying BCP customers by June 30, 2011 and December 31, 2011, respectively. As of December 31, 2010, Subaye had a total of 3,261 paying BCP customers that were Aixi SMEs. Management continues to believe Subaye will meet its internal targets with regard to the Aixi SMEs.

January Investor Roadshow

Subaye management will be meeting with current and potential investors in Boston, Massachusetts on January 21st and 22nd and in Palm Beach, Florida between January 23rd and January 27th. An investor event has been organized on January 25th in Boca Raton, Florida. Attendance is open to current and potential investors but no walk-ins be allowed. Investors should confirm their attendance by January 24th at 3pm EDT. For further details please contact Michael Feldman using the contact information below.

About Subaye, Inc.

Subaye, Inc. is a leading online business services provider in China engaged in enterprise cloud computing, video marketing and business to consumer (B2C) business solutions. Subaye's online business services include 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.

Source: Subaye, Inc.
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