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SOURCE MOKO Social Media Limited
NEW YORK, Aug. 15, 2014 /PRNewswire/ -- MOKO Social Media Limited (NASDAQ GM: MOKO; ASX: MKB), a provider of highly tailored mobile social community platforms for organized groups, today released the following business update. As planned, the Q3 2014 debut of MOKO's anticipated mobile app, REC*IT, is live and on schedule to meet the demand of U.S. college students. REC*IT's formal launch initiative commences on September 1, 2014.
"We are proud of MOKO's University Relationship Team, which has been diligently guiding on-campus rec directors through the pre-launch set-up process. We are also pleased to report that many of America's most prominent colleges and universities are participating including: Duke, The Ohio State University, University of Michigan, Georgetown University, University of Florida, NYU and Texas A&M amongst others. We only expect for this list, and the subsequent mobile communities, to increase." said Ian Rodwell, CEO of MOKO Social Media.
REC*IT Launch Operational Highlights
In order to enter the REC*IT "Win Your Tuition For A Year" sweepstakes, students will download the REC*IT app and then log into their IMLeagues account. The sweepstakes will run from September 1-November 23, with a winner being randomly drawn and announced on November 24. The sweepstakes will be the lead message in MOKO's communication strategy through all marketing channels to incentivize target customers to download and engage with the REC*IT app.
"After over a year of hard work in research and development, the REC*IT app is finally ready to be formally launched," said Rodwell. "We are very proud of the product that has been created and will use the following months to determine user adoption and metrics. We are excited about the next phase in delivering on our Company's business plan."
About MOKO Social Media
MOKO Social Media is the creator of customized mobile applications designed to impact large organized groups and associations through the identification of common interests. Moko provides these tailored groups with the tools to continuously share content, engage, and interact efficiently with others in a community of similar passions, unlike previous social network offerings. These customized mobile platform solutions are developed entirely by MOKO and distributed at no charge to these groups and their members in return for exclusive access and advertising rights. Given the audiences impacted, MOKO commercializes these products with premium targeted mobile advertising.
Moko's technology is currently represented by four products in development for launch in the United States: REC*IT, RunHaven, VOYCIT and Blue Nation Review. For more information please visit www.mokosocialmedia.com.
Special Note on Forward-Looking Statements
This press release contains information that constitutes forward-looking statements and uses forward-looking terminology such as "anticipate" "propose" "expect" and "will," negatives of such terms or other similar statements. You should not place undue reliance on any forward-looking statement due to its inherent risk and uncertainties, both general and specific. Although we believe the assumptions on which the forward-looking statements are based are reasonable and within the bounds of our knowledge of our business and operations as of the date hereof, any or all of those assumptions could prove to be inaccurate. Risk factors that could contribute to such differences include the performance of the United States and global capital markets and companies in our sector, as well as factors relating to the performance of our business, including intense competition we face; failure to innovate and provide products and services that are useful to users; our ongoing need for capital for investment in new and existing business strategies and new products, services and technologies, including through acquisitions; our dependence on advertising revenues; the potential for declines in our revenue growth rate and downward pressure on our operating margin in the future; increased regulatory scrutiny that may negatively impact our business; legal proceedings that may result in adverse outcomes; failure to maintain and enhance our brand; uncertainty as to our ability to protect and enforce our intellectual property rights; and uncertainty as to our ability to attract and retain qualified executives and personnel. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future intentions as of any date subsequent to the date of this press release.
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