World News: 13:30 GMT Thursday 6th December 2018. [Incumaker Inc. via Globe Newswire via SPi World News]
ATLANTA, GA, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Incumaker dba as www.ubid.com, (OTC Pink: QMKR), (“uBid/incumaker” or the “Company”) having recently announced it had completed the merger with Skyauction.com, has begun the process of integrating both companies with the goal of creating one unified auction platform. “Our very first priority is to capitalize on our shared customer base of 2.0 million by introducing new product offerings with the goal of creating an exciting new auction site”, commented Ketan Thakker, CEO of the joint companies.
With this acquisition, Incumaker adds deep industry expertise in the platform technology that will allow the Company to roll out and develop new and existing products. The combined platforms see 945,000 unique visitors on an annual basis, more than doubling uBid’s current site visitors. Also, with the completion of the merger, the Company adds $4.3 million in revenue and gains the ability to utilize the existing customers of the separate entities to increase its products offered by 50% to their respective customer base.
According to IBISWorld, in 2017 $394 billion was spent on ecommerce and auctions in the United States. “We see the acquisition and the entry into the online travel market as both an economic and extended product offering as a solid business opportunity”,” said Ketan Thakker, CEO of Incumaker. “Offering a diverse quality product as well as providing a great online experience will allow us to exploit and bring a greater product offering to our existing customer base and aggressively go after new customers. We are currently evaluating other opportunities in the online and auction market as our growth strategy allows us to look for possible acquisitions in the future to bring in new offerings and customers which will translate into increased shareholder value.”
Ubid, Uwin, Usave, it is all about U! It isn’t just a clever tag line it spells out exactly how we feel about what we do. Whether it is computers, memorabilia or a trip to Orlando, Ubid.com has a single-minded focus on saving you money by allowing you to determine how much you pay for any item. We make the process easy to understand, engaging and fun. Our customers are our inspiration, they motivate us to seek out better, more valuable products, allowing them more opportunities to save money by determining what they want to pay for it. Our online marketplace provides the perfect outlet for manufacturers, retailers, distributors, and other suppliers to sell all types of products to a base of highly motivated consumers.
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Company Disclaimers: As a "penny stock" company, within the meaning of federal and state securities law, Incumaker, Inc. may not avail itself of the Safe Harbor provisions as identified in the Private Securities Litigation Reform Act of 1995. However, Incumaker, Inc. provides the following disclaimer and warning to protect our shareholders, prospective investors and the public at large by alerting them to the risks and uncertainties involved with any investment, and the need to perform their own due diligence and assessment.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission.
Globe Newswire: 13:30 GMT Thursday 6th December 2018
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