Major Changes for DigitalTown in 2014
January 09 2014 - 11:17AM
Marketwired
Major Changes for DigitalTown in 2014
Senior Management Team Search, Series A Funding Round Sought,
Domain Valuation
MINNEAPOLIS, MN--(Marketwired - Jan 9, 2014) - DigitalTown, Inc.
(OTCQB: DGTW) today announced that changes for DigitalTown will be
dramatic in 2014. To better inform shareholders and the investor
public, informational releases will be forth coming.
With the DigitalTown community domains moving to the Google
(NASDAQ: GOOG) Apps Cloud platform we will seek a management team
with the skill set to take full advantage of Google's growth in the
cloud market place. This includes the CEO and other positions.
Deep knowledge of startup ecosystems, technology markets, demand
generation and a passion for cloud computing and incubating
technologies plus strong knowledge of the Cloud Platform market
space will be required.
With DigitalTowns initial funding coming from angel investors,
DigitalTown will seek its first Series A round of funding with a
new management team. Venture Capital firms in the Google cloud
space are encouraged to contact the company.
For investors and shareholders DigitalTown will perform third
party valuations of its domain portfolio. It is essential that
DigitalTown more fairly reports its valuation holdings of 23,000
plus domains and branding value verses the current market cap and
book balance. As an example DigitalTown sold one of its
premium domains last fiscal year for $175,000. DigitalTown lists
its average book value on its domains as less the $50 per domain in
comparison, a huge disparity. In 2014 DigitalTown will sell and
diverse itself of its non-core strategy domains, which include
Laptopcomputers.com, Notebookcomputers.com, Gotaxi.com, and
Gomedical.com. This sale will total about 50 to 100 domains and
could include the premium domain Goadvertising.com.
This will leave the company to focus on the core domain
portfolio of 23,000 community names for the Google Cloud.
For more information email info@digitaltown.com
About DigitalTown:
DigitalTown, Inc. in Burnsville, MN is developing a nationwide
network of more than 20,000 local online communities for high
school students, alumni, boosters and local citizens. For more
information, please visit www.digitaltown.com.
Safe Harbor Language:
Any statements contained herein related to future events are
forward-looking statements and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act
1995. Readers are cautioned not to place undue reliance on
forward-looking statements. DigitalTown, Inc. undertakes no
obligation to update any such statements to reflect actual
events.
Company Contact: DigitalTown info@digitaltown.com (952)890-2362
(office)
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