PALO ALTO, Calif., Oct. 31, 2011 (GLOBE NEWSWIRE) -- Sitoa Global Inc. (OTCQB:STOA) (the "Company"), an e-commerce facilitator, today announced that Chunjie365.com, the Company's first China marketplace has officially launched.
Chunjie365, www.chunjie365.com, which utilizes the Sitoa Focused Social Marketplace platform, and began the buildout in July 2011, has officially launched its e-commerce site.
Chunjie365 has partnered with several U.S. and Asian specialty product manufacturers to offer gift items via the Chunjie365.com e-commerce site and launches with over 300 products and is expected to scale to over 500 products by the end of 2011.
Additionally, Chunjie365 has structured strategic relationships with several market leaders including Alibaba.com's "Alipay" system, iMedia's QQ mobile advertising platform and Zibolan's Baidu and Google keywords program. Alibaba is the largest B2B (Business-to-business) site in China as well as the owner of Taobao.com which is the leader in China's C2C (Consumer-to-consumer) and B2C (Business-to-consumer) e-commerce. QQ, owned by Tencent.com is the largest instant messaging platform in China with over 400 million registered users. Zibolan is the number one ranked keyword reseller in China for Baidu and Google.
"The official launch of Chunjie365 begins our foray into the rapidly growing China market and allows our platform to be showcased in a comprehensive setting. Furthermore, the Focused Social Marketplace platform, which is now bi-lingual in Chinese and English, enables us to offer a turnkey solution to other focused marketplace communities in the China market that desire to have both Anchor Sellers and Microsellers in a setting that scales up to enterprise parameters. This is a unique platform that is currently offered in the Asia Pacific region and we believe this is the first of many marketplaces." says Cal Lai, President and CEO of Sitoa Global, Inc.
"Within three months, we've successfully built a bi-lingual Focused Social Marketplace that can easily be utilized by other niche marketplaces via a licensing and revenue share model. We are also targeting corporate gifts via an offline catalog as well as bricks-and-mortar stores that want to sell US made products." says Diana Wang, Executive Director of Chunjie365. "e-commerce in China has grown at a rapid rate and we believe that with the launch of Chunjie365, Sitoa Global will be a part of that growth."
About Sitoa Global Inc.
Sitoa Global provides an easy-to-use and comprehensive platform, the "Focused Social Marketplace" that enables online retailers to deploy a social marketplace e-commerce site. Sitoa's platform allows building marketplaces for online sellers with focused social customer networks to expand their sales channels without the risks of focus dilution, and increased capital and operating costs. Sitoa shares in revenues generated by the site in addition to charging integration and hosting fees. Additional information about Sitoa may be found on its website, http://www.sitoaglobal.com.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the continued growth of the e-commerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to perform under the agreement with Chunjie365; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.