LiveWorld Transitions Out of Community Center Business And Reconfirms 2013 Guidance
SAN JOSE, Calif. & NEW YORK--(BUSINESS WIRE)-- LiveWorld, Inc. (OTC Markets: LVWD), today announced that it is focusing on its broader social media presence and will spend fewer resources on the development and deployment of its Community Center solution set. Consistent with this transition, the company expects its contractual relationship with eBay to end during the summer 2013.
"We have had a wonderful working relationship over the years, and we look forward to their continued success," said David Houston, Chief Financial Officer of LiveWorld. "This transition is consistent with our continuing business shift from solutions based on our proprietary central community web platform to solutions focused on the greater social web."
We maintain a positive outlook for 2013, and our backlog as of April 1st was approximately $9.0 million for the remainder of the year, as compared to the $8.3 million in backlog for the same period in 2012. The $9.0 million includes revenues from eBay of approximately $621,000 as the associated contract is expected to end June 30, 2013. The $8.3 million in backlog for 2012 included approximately $1.7 million from eBay. We are continuing our strategy to transition from solutions focusing on community sites to solutions focusing on the broader social web, which now represent the majority of our revenue growth. We therefore anticipate revenues from our community center business to continue to diminish over time.
LiveWorld is a social content marketing company providing moderation, insight and engagement solutions for Fortune 1,000 brands. Our social media solutions provide a human touch scaled by technology that creates value out of user content, and provides big cost savings.
LiveWorld, a social content marketing company, is a trusted partner to the world's largest brands, including the number-one companies in retail, CPG, pharmaceutical, and financial/travel services. We revolutionize the management of user content through innovative technology, leading-edge services, and deep integration with client marketing and customer support teams. Scaling human review of user content and human touch points, LiveWorld removes obstacles faced by brands, allowing them to engage more deeply in social media. In an innovative approach that encompasses review, management, and analysis of user content, LiveWorld provides 24/7 brand protection through "always on" moderation and engagement across social channels, applications, and sites. The LiveWorld solution offers competitive advantage through management of user content in sheer volume, resulting in amplified brand presence, actionable insight, and increased customer loyalty. LiveWorld is headquartered in California, with offices in San Jose, CA and New York City, NY. For more information, go to www.liveworld.com. Follow us at @LiveWorld.
"Safe Harbor" Statement Under The Private Securities Litigation Reform Act
This press release may contain forward-looking information concerning LiveWorld's plans, objectives, future expectations, forecasts and prospects. These statements may include statements regarding LiveWorld's current or future financial performance including but not limited to its outlook for 2013, revenue and profit, including our expectations regarding revenue from our community center business, use of cash, investments, relationships and the actual or potential impact of stock option expense, and the results of its product development efforts. LiveWorld's ability to attract new clients and preserve or expand its relationship with existing clients, LiveWorld's ability to retain and attract high quality employees, including its management staff, the ability to deliver new innovative products in a timely manner, changing accounting treatments, and other risks applicable to the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.
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