LONDON, UNITED KINGDOM -- (Marketwired) -- 09/10/13 --
E-Waste Systems, Inc. (OTCQB: EWSI) ('EWSI' or the "Company"), an electronic waste management services, technology and reverse logistics company and the first public pure eWaste company, announced today that it has signed a strategic investment agreement with GoEz Deals Inc. ("GoEz")
In early August, EWSI announced the strategic E-Commerce and technology partnership with GoEz that is expected to add more than $3 million to EWSI's 2013 revenues. "This strategic agreement will result in EWSI's ability to tap into additional E-Commerce revenues and more," said Mr. Martin Nielson, Founder and CEO of EWSI.
GoEz platform allows EWSI immediate access into the high growth E-Commerce marketplace for reuse and recycling of electronics. GoEz has over 600 affiliated agency partners and it has experienced impressive revenue growth to around $2 million per quarter. Using its E-Commerce website, GoEz is striving to become a major player in the industry where it can compete with industry leaders such as Groupon and Living Social.
"This strategic investment in GoEz will allow EWSI to further participate in the expansion of their business including the strong possibility of an initial public offering of GoEz in the not too distant future. It also allows us to accelerate our e-waste and end-of-life electronics platform by harvesting the relationships with GoEz affiliates to promote our eWaste services, to resell still usable electronics, and to secure opportunities for more consumer-based streams of eWaste," added Mr. Nielson.
"This strategic investment is one of the key initiatives we are launching with Ed Torres and his team in order to accelerate our activities in the E-Commerce segment. I recognize in Ed Torres the mark of an executive and entrepreneur with exceptional performance as demonstrated by GoEz's growth rate. We are just at the beginning of this relationship and have very high expectations," added Mr. Nielson.
Ed Torres, Founder and CEO of Go EZ Deals Inc., and formerly with Procter & Gamble, stated, "With our EWSI strategic relationship and now this investment we can begin planning a broader geographical penetration to accelerate our plans -- a 'win-win' for both EWSI and GoEz. Our closer collaboration with EWSI is a great opportunity for Go EZ Deals to have an experienced ally in the e-waste management industry. Teaming up further with this strategic investment with EWSI is going to fuel our growth in the sales of electronic products and give added revenue streams. We are committed to promoting EWSI's recycling initiatives through our promotional platform to contribute to a greener planet."
Overall retail E-Commerce sales for the first quarter of 2013 were estimated at $1,118.9 billion, an increase of 15.2% from the first quarter of 2012 while total retail sales increased 3.7% in the same period.(1)
GoEz intends to double its presence in Metro New York by year-end 2013, and will launch similar operations in Miami and LA in 2014. GoEz also plans to introduce its own brands for household goods in 2014, as well as its own branded warehouse discount rewards card and E-Commerce credit card programs.