SocialGO Market Update

RNS Number : 3344Q

SocialGO plc

18 October 2011

 



18 October 2011

SocialGO Plc

 ("SocialGO" or the "Company")

Market Update

SocialGO, the AIM-quoted software developer and provider of Software as a Service social media applications, is today pleased to announce the release of Version 2 of the proprietary software that supports its social media platform, SocialGO™.

Version 2

The release of Version 2 of SocialGO's proprietary software represents a significant event in the continuing evolution of SocialGO's business model as the company moves away from offering a niche product to customers seeking to build self-standing social networks to a product that caters for a much broader customer base.  Version 2 has specifically been designed for customers who want to leverage the emergence of the major social networking platforms such as Facebook and Twitter, whilst also wanting to maintain control over their image and presence in the online social media space.

At the core of the customer experience is a website building tool that provides subscribers with the ability to quickly and easily build a self-standing social website that incorporates basic social networking functionality.  This basic service allows the customer to broadcast to and interact with the members in its community and to build a significant online presence.

The premium offering of the service incorporates the added capability of a full suite of social networking tools and features that allow the customer to significantly leverage their web presence and as a result extend their reach across the internet.  The flexibility that has been built into the platform has significantly extended the potential customer base for the product as well as building in a well-defined path that customers will typically take in extending and developing their communities over time.

Over the course of the next two months the SocialGO will focus on incorporating additional features and functionality into Version 2 based on the existing roadmap that has been developed for the product.  In addition the Company will closely follow customer feedback on Version 2 as well as monitoring developments in the social media sector to further build and develop features and functionality into the platform over this time.

Sales and Marketing

As part of the conversion process to Version 2 SocialGO has also commenced a wide ranging marketing and sales program starting with the replacement of its sales and marketing site, www.socialgo.com.  The site has been re-designed to reflect the service offerings now available to customers as a result of the new version of the software.  Changes have also been made to SocialGO's service plans and pricing structure to reflect the new service offerings.

The Company will launch further sales and marketing initiatives that include both online and offline media initiatives over the course of the next three months to build the profile of the product with its customer base.

Version 1

SocialGO will, whilst discontinuing any new sign-ups to Version 1 of its proprietary software, continue to maintain the platform and provide services to customers who are currently subscribed to the product.

Alex Halliday CEO commented:

"We are very excited to be launching the next generation of our platform after an intensive period of investment in product development. Social media is now a part of every new website being created and we believe that our new platform will give people a unique combination of website creation tools, social media integration and community features to closely match what consumers are seeking. 

We have learnt a lot from the first version of the platform, both in terms of the consumer needs and the way in which SocialGO should be marketed, merchandised and delivered. With the launch of the new SocialGO we feel confident that we have achieved our objective of creating a more mass market platform and initial indications based on customer feedback and sign-up activity show that the market has responded positively to the repositioning of the product and to the new software.

We are now beginning to scale our sales and marketing activity and continuing development efforts to further expand the capabilities of the platform."

- Ends -

For further information, please contact:

SocialGO plc
Dominic Wheatley, Chairman Alex Halliday, CEO	Tel: [phone]
	www.socialgoplc.com

Canaccord Genuity Limited
Mark Williams / Christopher Fincken	Tel: [phone] www.canaccordgenuity.com
First Columbus
Chris Crawford / Kelly Gardiner	Tel: [phone]
	www.first-columbus.com

Hill & Knowlton
Rebecca Ribbans / Mark Walsh	Tel: [phone] www.hillandknowlton.co.uk

About SocialGO

SocialGO Plc is a developer and provider of software and related services that allows customers to build their own online social presence, SocialGO™.  SocialGO's platform allows customers to quickly and easily create, manage and control their social media presence and provides the members of these websites with the ability to communicate and share with like minded people in a controlled and secure environment.  SocialGO derives its revenues from subscription premiums paid by website owners and from selling value added services which allows website owners to maximise the social media experience and the revenues that can derive from creating and managing a social media presence.  SocialGO is part of the burgeoning Silicon Roundabout in London, UK.

www.sgv2.com

 

END

 

 

MSCLLFERISLDLIL