PALO ALTO, Calif., Nov. 1, 2011 (GLOBE NEWSWIRE) -- Sitoa Global Inc. (OTCQB:STOA) ("Sitoa" or the "Company"), an e-commerce facilitator, today announced an investment from BayPeak LLC fund ("BayPeak"). BayPeak (www.baypeak.com) is an established "Asia-Pacific" investment management firm with offices in San Francisco and Shanghai, China. BayPeak is an active investor in US and international technology growth companies and has assisted a number of companies to go public through IPOs on NASDAQ. The Company expects to use the funds for its continued expansion.
"We welcome this investment from BayPeak, which we believe signals their confidence in our ability to execute our business plan," said Cal Lai, the Company's President and CEO. "We believe that Cory Robert's involvement and guidance in entering emerging markets as well as his deep experience and relationship network in Silicon Valley will be extremely valuable to us. We are pleased to be working with him and the BayPeak team."
"Our team at BayPeak and the Company's management team share a common goal of social media and the evolution of the Sitoa Focused Social Marketplace as it relates to the next generation of e-commerce," said Cory Roberts, Managing Director at BayPeak.
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.
About BayPeak LLC
BayPeak LLC launched in 2005 as a privately held investment firm headquartered in San Francisco and opened its office in Shanghai in 2011. BayPeak sources, develops and executes principal, China-based investment opportunities, with a particular focus on profitable companies operating in Digital Technology, Media, Telecom, Consumer Products, Industrial Technology, Agriculture/Food, Health Care, or Alternative Energy.
BayPeak invests principal capital and invests for a proprietary private equity fund. It maintains relationships with strategic investors, financial partners and intermediaries to facilitate and support its investment strategy.
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 use BayPeak's investment proceeds to expand its business; 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 (www.globenewswire.com/newsroom/ctr%3Fd=224559%26l=8%26u=http%253A%252F%252Fwww.sec.gov" target="_top" rel="nofollow">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.