BEIJING, May 21, 2008 (PRIME NEWSWIRE) -- BroadWebAsia Inc. (OTCBB:BWBA), a leading and diversified Internet company focused on online communities and online advertising in the People's Republic of China, announced today that daily unique visitors for its online video website, Hupo TV (www.hupo.tv), reached 2.27 million on May 18th and that there were more than 20 million page views on the same date.
Brad Greenspan, the founder of MySpace, and the controlling shareholder and chairman of BroadWebAsia commented, "Hupo TV is on track to achieve the growth performance we had anticipated when we acquired our ownership interest in Hupo. We believe that the Hupo TV business model, which focuses primarily on proprietary content as opposed to purely user generated content, has clear advantages and we are now beginning to realize the competitive benefits of these advantages."
"Our goal is to build an online media company that caters to our currently underserved user-base in China," said Davis Li, CEO of Hupo TV. "Our continued growth in user traffic validates our strategy of delivering high-quality, proprietary or self-produced content to our loyal viewers."
About BroadWebAsia Inc.
Established in 2005, BroadWebAsia, Inc. (OTCBB:BWBA) is a fast growing and diversified Internet Company focused on Chinese online communities and digital advertising. The company was started and is backed by Internet entrepreneur and MySpace founder Brad Greenspan. The BroadWebAsia network is comprised of Hupo TV (www.hupo.tv), Mofile (www.mofile.com), TYCYGames (www.tycygame.com), 9e3.com (www.9e3.com), BBMAO (www.bbmao.com), and ETE (www.ete.cn). BroadWebAsia also operates the Major League Baseball China website, www.major.tv/china, in partnership with Major League Baseball Advanced Media.
By acquiring controlling interests in 6 fast growing and well managed Chinese websites, BroadWebAsia has built a powerful, synergistic network encompassing video entertainment, social networking, and community search websites supported by a top online ad sales and serving company in China. BroadWebAsia's highly scalable network strategy allows for efficient cross marketing, cross advertising and cross audience promotion opportunities. The BroadWebAsia Network reaches over 100 million monthly unique visitors, generating over 500 million monthly page views.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, and includes statements relating to the ability of BroadWebAsia, such as the ability improve efficiencies, improve customer service, drive cost savings and competitive advantage. These statements are based on current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward looking statements including, among others: the conditions of market, the continued ability to develop solutions, demand for and market acceptance of new and existing services, development of new functionalities which would allow companies to compete more effectively.