Mobile Search Company UpSNAP Completes Funding Round; Stock Trading on OTC as UPSN18 November 2005
UpSNAP, Inc., the premier provider of free mobile search and info services, today announced that it has completed a significant round of funding by way of a share exchange. UpSNAP now trades on the NASDAQ OTC exchange as UPSN.OB. Tony Philipp, president and CEO of UpSNAP commented, "This represents an important step towards our goal of becoming the top player in the mobile search market. The new funding will allow us to continue to innovate and create the best technology to help people on the move find -- at no cost to them -- the products, people and services they want, at the moment they want them." UpSNAP makes it simple to retrieve relevant info by leveraging the text messaging capabilities built into almost all mobile phones, as explained at http://upsnap.com. By text messaging a query to the number 27627 (2SNAP) from a mobile phone anywhere in the United States, users can instantly receive 411 information without having to pay the usual $1.50 associated with dialing the operator for directory assistance. Current statistics indicate that 99% of the cell phone handsets in the U.S. have text messaging capabilities, making this service accessible to practically everyone. There are over 190 million cell phone service subscribers in this country, according to the Cellular Telecommunications & Internet Association. "We were the first to enter the mobile search space and did so with a technology platform engineered specifically for the unique constraints of mobile phones," said Mr. Philipp. "Other search providers try merely to adapt web search, which just doesn't work. Combining this superior technology with our innovative business model will allow us to offer services never before seen on cell phones -- the best is yet to come." UpSNAP is able to offer its users a broad spectrum of services that will continue to expand over time because it is the only company in the mobile search space with a clearly stated business plan. UpSNAP generates revenue by linking mobile phone users directly with relevant vendors through its patent- pending Voice Over IP (VOIP) call-connect infrastructure. This pay-per-call model is analogous to the highly successful pay-per-click model of internet search. No other mobile search provider has this capability. This revenue stream gives UpSNAP the flexibility to continuously expand its line of search and info services at no cost to its users. About UpSNAP UpSNAP, Inc. (OTC Bulletin Board: UPSN) is the premiere provider of free mobile search and info services. As the first company to address mobile search and text-based 411, UpSNAP has built its technology platform from the ground up with specific focus on the unique challenges of providing a usable and functional mobile search experience. UpSNAP's patent-pending technology combines wireless search and natural language commands to deliver premium services to mobile phones, while generating revenue via a voice over IP (VOIP) call connect infrastructure that links mobile phone users with vendors in its advertising program. The company is headquartered in Davidson, North Carolina. For more information about UpSNAP, visit http://www.upsnap.com. This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development acceptance, and the impact of competitive services and pricing and general economic risks and uncertainties.
Source: PR Newswire
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