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MEDL Adds Veteran Deal Maker to Helm "Hang w/" Platform(November 29, 2012)
FOUNTAIN VALLEY, Calif., Nov. 29, 2012 (GLOBE NEWSWIRE) -- MEDL Mobile, Inc.(OTCBB:MEDL) – a pioneer in the creation, development, marketing and monetization of mobile apps – has announced that Mr. Peter M. Elkin has joined the company to help launch the MEDL's newly developed mobile social network, "Hang w/."
The platform allows a celebrity to monetize a fan base by sharing a live stream from the celebrity's phone directly to their fans. The platform literally allows a celebrity to "Hang w/" their fans live from mobile device to mobile device. Unlike Google Hangouts or other popular celebrity streaming services such as Ustream, Hang w/ will be the first platform architected from the ground up to deliver - and monetize - a live celebrity video experience via mobile.
Mr. Elkin brings significant experience with more than 25 years of business experience including CEO and CFO positions in various industries including technology, real estate, manufacturing, and financial services. He has worked extensively with start-ups, emerging growth and high growth companies.
Already Mr. Elkin has impacted the project by bringing on board several highly visibly Management and Talent partnerships, as well as Celebrities, for the platform.
Mr. Elkin is the former CFO and Executive Committee Member at REDC/Auction.com where he helped take the Company from $300M to over $3B in annual sales. Prior, he was CFO for a Computer Reseller taking them from $80M to over $300M in annual sales and the Managing Director of a firm specializing in crisis management, turnarounds, bankruptcy, strategic planning, as well as interim CEO and CFO services.
The Mr. Elkin graduated Cum Laude from the University of Southern California with a BS in Accounting and Finance.
The Hang w/ platform, which has been in stealth development for two years, was beta tested successfully as part of KCon, a music festival celebrating Kpop Music Culture recently made popular by artist Psy and his hit song, GangNam Style. At peak performance, thousands of fans around the world got to "hang w/" the hosts live as they went behind the scenes at the Asian Music Festival which was sponsored by MEDL client, Mnet America.
"We are thrilled to have Peter on board," said Andrew Maltin, MEDL CEO and Co-founder, "I've known Peter both personally and professionally and I can say his addition to the team is a big win for MEDL and for Hang w/."
MEDL Mobile developed the Hang w/ platform after years of working with celebrity clients and recognizing that their needs were not being met. MEDL is a presenting sponsor of the Variety Entertainment Mobile Apps Conference on November 29, 2012 and has developed mobile apps for such notable celebrity clients as Sarah Silverman, Cheech & Chong, Pauly D, Rampage Jackson and Marlee Matlin.
About MEDL Mobile
The Company develops, acquires and publishes a growing library of mobile applications which perform specific functions for the user on the Apple and Android platforms. The Company licenses its technology and performs custom development for key clients such as Monster.com, New York Times Company, Teleflora, Telefonica and Medtronic, allowing the company to grow the overall library of technology greatly extending the potential reach of the Mobile Brain. The Company enters into partnerships to mobilize and monetize IP with such notable names as Encyclopedia Britannica, MTV's Pauly D, Cheech & Chong, Rampage Jackson and Marlee Matlin. The Company is establishing a business model in which it expects to generate multiple revenue streams, including development fees, download and in-app purchases, advertising, sponsorship and licensing of technology. User analytics are collected by the Company's growing Mobile Brain which processes user data in order to create better distribution and monetization of mobile applications. The Company's Software Development Kit (SDK) consists of a growing suite of tools which have been designed to help developers to better market and monetize their mobile applications. For more information about MEDL Mobile, please visit www.medlmobile.com.
The MEDL Mobile Holdings Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11366
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about MEDL Mobile's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Potential risks and uncertainties include but are not limited to the ability to integrate Inedible Software apps and platform into MEDL's product offering, the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
For more information about MEDL Mobile, please visit http://www.medlmobile.com.
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