DubLi: The Reverse Auction Company Does A Reverse Merger

by johncini on December 21, 2009

According to Obtainer Online, DubLi, the new “reverse auction” online shopping portal …

…pulled off  a “non-plus-ultra” by acquiring a smaller but already publicly traded auction company thus making their own IPO easier…

DubLi CEO Michael Hansen

DubLi CEO Michael Hansen

DubLi is not only known for its exceptional and trend-setting business ideas, but also for top-notch strategic business decisions. Now, DubLi pulled off the non-plus-ultra in strategic management: as a large but privately-held company, DubLi merges with a smaller, but public company making its own IPO easier. This specific kind of company merger is called a reversed merger.

With that, everyone who wants to get truly rich with network marketing received good news through the ticker. The public company “MediaNet Group Technologies Inc.” (OTC-BB: MEDG-News), who operates the largest online shopping portal through its subsidiary “BSP Rewards,” recently merged with “CG Holdings Ltd.,” the European based privately-held company of the DubLi family of companies. With the completed merger, DubLi became a wholly-owned subsidiary of MediaNet, and DubLi’s CEO and COO will hold the same positions within MediaNet.

Michael Hansen, president of the newly combined company, said: “We are very pleased to be part of this unique business combination. Joining the platforms DubLi and BSP connects two shopping alternatives that are both recognized market leaders in their respective areas and also offers a unique shopping program unparalleled in the industry. Our technology in connection with MediaNet‘s long-term relationships to providers of premium brands will make it possible to set new industry standards. We are convinced that this business connection will enable the access to a totally unique method of international shopping and paves the way for a worldwide expansion.”

Martin Berns, CEO of BSP Rewards Inc. explained: “During the past few months we had the opportunity to be intimately involved in DubLi’s vision and progress. DubLi’s goal to evolve into the world leader in international shopping and online auctions is extremely exciting. It offers an outstanding opportunity for the company and its shareholders. DubLi’s auction and online shopping platform is exceptionally sophisticated and, as a combination with our BSP program, acts as a tool for customer loyalty. This offers incentives for continuity and communication with the additional opportunity to instantaneously be able to load cash, bonus payments, payroll and rewards onto almost any debit or credit card domestically and abroad. Combining both platforms offers a myriad of features and benefits with almost no competition. This truly is a scenario where one plus one makes three.”

‘Whole Truth’ Disclosure: John Cini, the author of this post is a DubLi Sales Director.
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