ideaEDGE Inc. (IDAE.OB) Receives $1.2M Financing to Launch Platform to “Bank” on Social Sites and Gift Cards
Source: http://Blog.QualityStocks.net/?p=10579Posted on Wednesday, June 11th, 2008 | In Current Market News, OTCBB Markets, Small & Micro Cap, Stocks to Watch
ideaEDGE Inc. (OTCBB: IDAE) develops prepaid gift card programs utilizing highly popular social sites such as MySpace and Facebook, which have a combined audience of more than 170 million users. It’s an audience that keeps growing as users from all over the world, from every walk of life, and of every age jump on the social networking bandwagon.
ideaEDGE today announced it has secured $1.2 million of new equity funding, which will allow the company to rollout its Social Network Enable (SNE) Group Gift Card platform in late 2008. “Our industry partners are excited about the potential of our SNE Group Gift Card platform,” Jim Collas, ideaEDGE’s CEO stated in the press release. “We expect to have an impressive network of industry partners and gift card merchants for our planned launch this fall.”
With the economy’s weak condition, money is tight for everyone, and shopping with a gift card should make anyone smile. According to ideaEDGE, the gift card market is $100 billion – and the company intends on getting involved in the industry and taking advantage of its popularity. ideaEDGE plans on doing this by making group gift giving easy and fun, allowing multiple individuals, such as a group of friends on one of the social sites, to contribute to a group gift card, perhaps for birthdays or other occasions. Users and gift givers will be able to choose from a wide selection of popular gift card merchants.
The gift card platform, delivered later this year, will create an easy tool for buying and delivering gifts, targeting a broad demographic of Internet and social network users. Word of the financing sent shares of ideaEDGE climbing nearly 7 percent to $1.30 in mid-day trading.
Let us hear your thoughts below:
Last 5 posts by QualityStocks
- November 23rd CEOcast Weekly Newsletter - November 23rd, 2009
- Longwei Petroleum Investment Holdings Ltd. (LPHI) Reports Strong Third Quarter - November 23rd, 2009
- An Opportunity to Get there First in the Media Space - November 23rd, 2009
- Akeena Solar, Inc. (AKNS) Partners with Highland Solar Achieving Canadian Market Penetration - November 23rd, 2009
- Cardio Vascular Medical Device Corp. (CVSL.OB) Applying for Patents in Europe, Canada, and Far East - November 23rd, 2009
2m, Bandwagon, Birthdays, Card Merchants, Current Market News, day trading, Facebook, Gift Card, Gift Cards, Gift Givers, Group Gift, Idae, Impressive Network, Industry Partners, Jim Collas, Launch, Myspace, Network Users, Occasions, Otcbb, OTCBB Markets, Small & Micro Cap, Social Networking, Stocks to Watch
 About QualityStocks (http://QualityStocks.net)
Our name, QualityStocks, emphasizes our commitment to connect subscribers with companies that have huge potential to succeed in the short and long-term future. We believe strong management and vision for the future are crucial for any company to be successful. Timing is everything and we help investors succeed by providing an objective, broad-based view of the SmallCap markets on a daily basis. Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.