NEW YORK, June 23, 2010 (GLOBE NEWSWIRE) -- OLB Group, Inc. (OTCBB:OLBG), an e-commerce service provider offering software products and services designed to help businesses sell products over the internet, announced today the purchase of three e-commerce properties from Retailer Networks, Inc.: GHMconnect (http://www.ghmconnect.com), a B to B wholesaler with over 25,000 retailer members purchasing products from over 100 product manufacturers and distributors; the Gift and Home Channel (http://www.giftandhomechannel.com), a learning center and community for giftware retailers with over 450 instructional videos on how to be a successful retailer; and Thrive on Main, a curriculum-based learning property under development for the whole small retailer universe.
OLB's Chairman & CEO, Ronny Yakov, said, "We are very excited about these acquisitions. These properties will be complementary to current customers of OLB/ShopFast Subscribers. The members of GHMconnect and Gift and Home Channel will benefit from the large selection of over 4,000,000 products and complementary services and benefits that OLB/ShopFast offers to their current members. Currently we are in the process of transitioning the properties and plan to have them fully integrated with ShopFast systems over the next several months."
Craig Park, Chairman & CEO of Retailer Networks, commented, "We are excited about this opportunity to partner with OLB Group and the additional value it brings to our current members. These assets will significantly enhance the OLB/ShopFast offering to retailers at a time where efficiency and business tools are greatly needed."
About The OLB Group, Inc.
The OLB Group is an e-commerce service provider that delivers fully outsourced private label shopping solutions. We provide our clients with a seamless, end-to-end e-commerce solution, including site creation, hosting, transaction processing, order fulfillment, customer service, sales reporting, as well as a virtual inventory of name-brand products from top-selling categories on the Internet. Our private label shopping site is designed to maintain the unique look and feel of each of our customer's websites, providing seamless e-commerce functionality that keeps users on the site at all times. Order fulfillment and customer service are also provided under the brand names of our clients. We remain invisible to the consumer. Our e-commerce platform also enables our clients to create their own online marketing promotions and to customize product content to meet the needs of their online users. Our turn-key online shopping solutions include "ShopFast Direct Shopping Database" or "ShopFast DSD," and ShopFast PC (profit center). For more information, please visit http://www.olb.com, http://www.shopfast.com, http://www.shopfast.net, http://www.leorexdirect.com.
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About Retailer Networks, Inc.
Retailer Networks empowers independent retailers to thrive in today's dynamic market where their future is challenged by the changing retail landscape. We are the first to develop an online destination for independent retailers that is available on-demand anytime to deliver mission-critical business resources such as expert education, peer-to-peer interaction, industry and vertical-specific performance metrics, helpful management tools and support services. Like the retailers we serve, our independence is critical to our mission so we have no obligations or biases to specific manufacturers, "rep" firms, trade groups or other third-party suppliers. We make available to our retailers a best-in-class offering that will help them realize their future growth and profitability.
The Gift and Home Channel.com is the world's first Web Video channel and online community dedicated to the success of the independent gift and home retailer. GHC provides retailers access, 365 days a year - 24 hours a day, to educational programming featuring best practices from leading independent retailers and expert guidance in short, easy to view video segments. GHC's online community brings together retailers at all levels of success with industry experts and merchandising consultants to provide the business tools that store owners and managers need to thrive.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. The OLB Group, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.
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For more information, please visit our additional sites: http://www.shopfast.com/, http://www.shopfast.net/, http://www.ghmconnect.com, http://www.giftandhomechannel.com/.