PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Buildablock is an Internet service platform whose mission is to act as a transactional catalyst between buyers and sellers while leveraging a growing collection of patented, sophisticated user friendly tools.
MIAMI----BUILDABLOCK CORP. (OTCBB:BABL), (“Buildablock” or the “Company”), today announced that it has officially launched its e-commerce website and the site is now live, fully integrated and is gearing up its shopper and merchant user population.
“We are excited by the live launch of our e-commerce website. We believe that group buying using the Buildablock platform is the wave of the future since it provides for negotiated discounting and user empowerment since it is the customer that chooses products for discounting by just uploading them onto our site,” said Gary Oberman, Buildablock’s CEO. “As just one example of how our economies of scale works, by consolidating large blocks of fuel buyers that number in the thousands, the Buildablock platform can approach large fuel providers to negotiate fleet pricing for its members. This is a very compelling application of our business model that can provide the opportunity for Buildablock users to save money on gas.”
In addition, Buildablock has now progressed into the marketing phase where initiatives will include merchant awareness programs and buyer incentive campaigns. One such program is its joint venture relationship with Linen Chest, Canada’s leading retailer in home fashion with over 28 stores. Linen Chest is a very strong Canadian brand with an emerging digital presence that had been looking for an online solution to help drive traffic to its physical stores and increase online sales without the need for deep discounting.
“Buildablock’s unique group bidding methodology ensures maximum traffic through negotiated price management,” said Sheldon Liebner, President of the Linen Chest. “We had entertained doing business with fixed discounters like Groupon, but found very little user engagement during the sales process which limits customer loyalty. With Buildablock, our view is that the user experience will be very engaging which will maintain maximum value to both the buyer and the seller alike.”
Buildablock users have transacted several transactions with Linen Chest in the early phase of its live launch which was easily facilitated and which Linen Chest reports drove new traffic to both its website and physical stores. “Buildablock is the only platform we found that delivers high quality, free advertising without degrading our brand. This is very encouraging news for our firm as we transition our way across the digital landscape,” Sheldon Liebner, President of Linen Chest concluded.
The Company had obtained essential user feedback through its soft launch in order to finalize systems and procedures and prepare for its live launch. Buildablock is now focused upon increasing its shopper population through various programs and initiatives. Since Buildablock’s social login requirement is similar to that of other leading social networking sites, the Company expects to gain exposure to the friends networks of new subscribers it gained via marketing efforts already undertaken which could lead to over 400,000 potential new subscribers by way of referral.
“We view the social networking element as a key to enhancing the shopper experience and look forward to going live with our mobile application in the near future,” said Gary Oberman, Buildablock’s CEO. “We are intent upon increasing the consumer and merchant adoption of the Buildablock platform and are confident in our success as we grow this vibrant and exciting e-commerce platform.”
About Buildablock Corp.
Buildablock is an Internet service platform whose mission is to act as a transactional catalyst between buyers and sellers while leveraging a growing collection of patented, sophisticated user friendly tools. Growing beyond the scope of aggregation sites or group buying catalogs, Buildablock offers consumers maximum value for their purchasing dollar by combining group buying leverage, social media interactivity and automated negotiating tools. The Company’s dashboard of buying tools and follow-on services represent a new paradigm in supply chain interaction for both retailers and consumers alike. The Company expects that ease of customer acquisition and diverse, recurring revenue streams will combine to return exceptional value to the shareholders of Buildablock. For more information, or to view an introductory video of the Company’s e-commerce business model, visit the Company's website at http://www.buildablock.com.