VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/17/13 -- LX Ventures Inc. (TSX VENTURE: LXV) ("LXV" or the "Company") and Mobio ("Mobio"), a wholly-owned subsidiary of LXV, are pleased to announce that Mobio has released a major platform upgrade and ad unit consumption has increased by 350% as a result. The new platform has also been opened up to all artists allowing anyone from Ke$ha to garage bands to start engaging their fans allowing for high scale growth.
With this release, Mobio continues to show leadership in disrupting the traditional AdTech space. Mobio is now achieving an industry beating 35%+ ad unit engagement per consumer compared to the .5% or lower industry standard for display ads. As a crowd sourced media creation tool for major social influencers, Mobio is connecting artists to their fans on a scale never possible before while driving a uniquely effective engagement advertising model for brands.
"We're extremely excited about the new platform roll-out and ad engagement results. Traditionally per consumer ad engagement is very low, so seeing levels of ad unit consumption this high through Mobio reinforces our confidence that Mobio is changing the AdTech game," said Mark Binns, VP Marketing of LX Ventures.
About LX Ventures
LX Ventures is a publicly traded incubator that launches, integrates, and acquires early stage high growth technology companies. We are a group of entrepreneurs dedicated to developing the next generation of entrepreneurs by providing funding, resources, mentorship, and access to our global network. We are in the business of building businesses. Our approach is twofold: we either partner with existing companies to assist with distribution and scaling or we internally innovate from idea generation through to launch and exit. For further information about LX Ventures, its technology, collaborations and partnerships, please visit: www.lxventures.com.
Mobio's flagship product, Mobio INsider, is a leading fan directed content network and gamification platform that rewards music fans with content they have a hand in creating from the artists they love and connects brands to their desired audiences. The platform successfully reaches its core target audience - teens and tweens - through a highly engaging social game, while increasing the artist's social media following and boosting awareness of brand partners. The company is headquartered in Vancouver, British Columbia. To learn more, please visit www.mobio.net.
ON BEHALF OF THE BOARD
LX VENTURES INC.
Mike Edwards, President & CEO
CAUTIONARY NOTE: FORWARD-LOOKING STATEMENTS. Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of LX are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by LX are those risks described herein and from time to time, in the filings made by LX with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com.
Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
LX Ventures Inc.
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