|By Marketwired .||
|December 6, 2012 11:12 AM EST||
TORONTO, ONTARIO -- (Marketwire) -- 12/06/12 -- Lingo Media Corporation (TSX VENTURE:LM)(OTCBB:LMDCF) ("Lingo Media" or the "Company"), an ESL industry acquisition company that is 'Changing the way the world learns English', is pleased to announce it has signed a US$1 million partnership agreement with Advancina, LLC, a leading applications developer with offices in Sunnyvale, California and Nanjing China to enhance and update its product offering and expand the market for its popular English language learning online community, Speak2Me.cn. The agreement, effective immediately, will rapidly maximize the potential and reach of this site and the technology behind it by propelling it onto the global stage.
As part of the agreement terms, Advancina and its CEO Stanley Dong will become a 20% shareholder of Speak2Me (Hong Kong) Limited, a subsidiary of Speak2Me Inc. which owns Speak2Me (Beijing) Education Information & Technology Co, Ltd.
The long-term goal is to build up Speak2Me to be the leading language exchange social network worldwide. Towards this aim, promotions will be underway on leading platforms including Renren and Weibo, one of the biggest social network platforms in China.
"This is a huge win for us," says Michael Kraft, President & CEO of Lingo Media. "Through this new partnership with Advancina, Speak2Me will have a fresh look, improved functionality and new distribution horizons around the world. Stanley and his team understand the Chinese market and are set to create tremendous forward momentum through a more robust and flexible platform-along with a vision that takes the idea of Speak2Me from a popular English language learning website to a successful multi-platform application on global networks."
Speak2Me.cn is a popular English language learning online community in China that reached its one millionth user milestone back in 2010, and continues to attract a devoted user-base. The secret to its revenue success is Speak2Me's unique Conversational Advertising(TM) platform that sets it apart distinctly in the cluttered world of online brand advertising: Advertisers can tap into a powerful messaging platform and take advantage of 2-3 minutes of embedded, full-screen engagement within a language lesson. This rare type of brand engagement has been shown by independent research to double the likelihood of purchase-with results 10 times greater than their traditional banner advertising campaigns. For this reason, it has been the choice of top advertisers, including Mercedes' who used it for the launch of its Smart fortwo car in China.
Advancina brings not only the technology leadership but also the strong inroads and presence in the United States, China and key global markets. Through its international development team, there is an opportunity for the Speak2Me platform to be reconfigured to go global. As CEO of Advancina, Dong himself brings exceptional knowledge and a prestigious technology background. Prior to Advancina, he was senior technical manager at Oracle and a respected consultant at Deloitte who directed what Gartner called "one of the top cutting-edge technology projects of 2006".
"I am thrilled to take the reins on Speak2Me, an innovative technology and web presence that has always had an exceptional advertising monetization platform and a strong community base in China," says Stanley Dong, CEO of Advancina. "Moving forward, we plan to turbocharge that potential by increasing user-friendliness, updating the technology and reconfiguring it entirely for a global marketplace."
About Lingo Media (TSX VENTURE:LM)(OTCBB:LMDCF)
Lingo Media Corporation (www.lingomedia.com) is an ESL industry acquisition company that is Changing the way the world learns English, focused on English language learning ("ELL") on an international scale through its four distinct business units: ELL Technologies; Parlo; Speak2Me; and Lingo Learning. ELL Technologies is a globally-established ELL multi-media and online training company marketed under the Q Group brand (www.elltechnologies.com). Parlo is a fee-based online ELL training and assessment service (www.parlo.com). Speak2Me is a free-to-consumer advertising-based online ELL service in China (www.speak2me.cn). Lingo Learning is a print-based publisher of ELL programs in China. Lingo Media has formed successful relationships with key government and industry organizations, establishing a strong presence in China's education market of more than 300 million students. The Company continues to expand its ELL offerings and is extending its reach globally.
About Advancina LLC
Advancina LLC is a global business and technology services company with offices in Silicon Valley in California and Nanjing, China. It provides IT solutions and business consulting services to clients worldwide. Advancina creates world-class technology solutions for software, enterprise, and business customers. We use innovative engagement and process models that are custom-designed to meet client-specific needs and balance a high-level business view with close attention to detail during project execution. From proprietary frameworks to open source components, we leverage best-of-breed technology to provide the greatest advantage to you.
Portions of this press release may include "forward-looking statements" within the meaning of securities laws. Forward-looking statements contained in this press release are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve certain risks and uncertainties. Actual results may vary materially from management's expectations and projections and thus readers should not place undue reliance on forward-looking statements. Certain factors that can affect the Company's ability to achieve projected results are described in the Company's filings with the Canadian and United States securities regulators available on www.sedar.com or www.sec.gov/edgar.shtml.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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