SAN FRANCISCO, CA / ACCESSWIRE / July 8, 2014 / EFactor Group Corp. (OTCQB: EFCT) ("EFactor Group Corp." or "the Company"), owners of a group of entrepreneur-focused service companies and EFactor.com, a niche social network providing content and resources for entrepreneurs worldwide, today announced the acquisition of an entrepreneur-focused business services platform, Business Growth Systems, Ltd. ("BGS").
BGS was founded in 2006 to help entrepreneurs throughout the United Kingdom grow their businesses rapidly from startup to maturity. BGS is a training and education company and conducts more than 20 seminars each month in different cities around the United Kingdom. The training provided helps entrepreneurs to grow sales, increase profits and manage time more effectively. The end result is a profitable, fast growing-company that relies less on the founding entrepreneur, and more on the staff hired to take the business to its next level. BGS has served over 23,000 customers through its live events and products since inception.
BGS unaudited financial statements for the twelve month period ended December 31, 2013 reflected revenue of $1.83 million. For the three months ended March 31, 2014, revenues were $1.45 million. EFactor acquired 100% ownership of BGS in consideration for EFactor shares equaling to approximately $4.55 million.
"BGS" event-focused outreach and connections are highly relevant to EFactor’s core concept of offering live events in support of a thriving social network and we are keen to use the team’s expertise and offer these seminars to all our members," began Marion Freijsen, COO of EFactor Group Corp. "It is also a clear match to one of EFactor’s Four Pillars - "Knowledge". Their expertise in event planning and entrepreneur-focused seminars are not only a value to our growing group of EFactor.com members in the UK, we are planning for BSG to eventually run our own EFactor branded events, like our 'Pitch-It-in-Person' events held worldwide."
About EFactor Group Corp.
EFactor Group Corp. (OTCQB: EFCT) has at its core EFactor.com, a niche social network for entrepreneurs. EFactor.com provides its members with the people, tools, marketing and expertise to succeed and make real, trustworthy and lasting connections. At the core of the network lies a strong algorithm that allows members to not only connect with people, but with the right people. In addition, EFactor.com provides knowledge, facilitates preparing for funding and resources to reduce business costs, delivered through a mix of online social networking and offline domestic and international events.
EFactor.com has over one million members in 222 territories across 240 industries. It is incorporated in Nevada and headquartered in San Francisco. For more information, visit http://www.efactor.com
EFactor Group Corp. also has various subsidiary service organizations including a UK communications and public relations agency and a company that delivers matching software for mentees to get matched to the perfect mentor. For more information about EFactor Group Corp. please visit, http://efactorgroup.com/
The EFactor.com Value – The Entrepreneurs Wingman
EFactor.com is a social network designed to support you as your business grows, along every step of your journey. We'll be there to congratulate you every time you win and will coach and inspire you whenever you feel frustrated by setbacks. You can count on us to connect you with the right people for you and your company and offer you the resources and talent that will help you succeed. We are highly motivated everyday people who genuinely care about our team and customers. We cheer each other on and have each other's back. We get to see our ideas come to life every single day. We're entrepreneurs, contributing our expertise to the community.
See our Company Video here: http://ir.efactorgroup.com/videos/view/4/efactor-video
Safe Harbor: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of EFactor Corp., to be materially different from the statements made herein.
Company and Investor Relations
Marion Freijsen – Co-Founder/COO
EFactor Group Corp.
Main: +1 650 380 8280
Email: [email protected]
EFactor email: http://www.EFactor.com/marion
John Mattio – Investor Relations
EFactor Group Corp.
Main: +1 203 297 3911
Email: [email protected]
SOURCE: EFactor Group Corp.