|By Marketwired .||
|January 9, 2014 12:17 PM EST||
MINNEAPOLIS, MN -- (Marketwired) -- 01/09/14 -- DigitalTown, Inc. (OTCQB: DGTW) today announced that changes for DigitalTown will be dramatic in 2014. To better inform shareholders and the investor public, informational releases will be forth coming.
With the DigitalTown community domains moving to the Google (NASDAQ: GOOG) Apps Cloud platform we will seek a management team with the skill set to take full advantage of Google's growth in the cloud market place. This includes the CEO and other positions. Deep knowledge of startup ecosystems, technology markets, demand generation and a passion for cloud computing and incubating technologies plus strong knowledge of the Cloud Platform market space will be required.
With DigitalTowns initial funding coming from angel investors, DigitalTown will seek its first Series A round of funding with a new management team. Venture Capital firms in the Google cloud space are encouraged to contact the company.
For investors and shareholders DigitalTown will perform third party valuations of its domain portfolio. It is essential that DigitalTown more fairly reports its valuation holdings of 23,000 plus domains and branding value verses the current market cap and book balance. As an example DigitalTown sold one of its premium domains last fiscal year for $175,000. DigitalTown lists its average book value on its domains as less the $50 per domain in comparison, a huge disparity. In 2014 DigitalTown will sell and diverse itself of its non-core strategy domains, which include Laptopcomputers.com, Notebookcomputers.com, Gotaxi.com, and Gomedical.com. This sale will total about 50 to 100 domains and could include the premium domain Goadvertising.com.
This will leave the company to focus on the core domain portfolio of 23,000 community names for the Google Cloud.
For more information email [email protected]
DigitalTown, Inc. in Burnsville, MN is developing a nationwide network of more than 20,000 local online communities for high school students, alumni, boosters and local citizens. For more information, please visit www.digitaltown.com.
Safe Harbor Language:
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act 1995. Readers are cautioned not to place undue reliance on forward-looking statements. DigitalTown, Inc. undertakes no obligation to update any such statements to reflect actual events.