BOCA RATON, Fla., Oct. 3, 2011 -- MediaNet Group Technologies, Inc., a global shopping and entertainment community, today announced that it has sold 50,000 of its DubLi Xpress Gift Card Reverse Auctions since the launch on May 11, 2011.Michael Hansen, President and Chief Executive Officer stated, "Reaching 50,000 Xpress Gift Cards sold is an exciting milestone, one that demonstrates the validity of the concept. We will continue to review, evaluate and enhance our reverse auctions, both Xpress and Unique. The Gift Card concept is illustrative of our plans and goals for the future of the Company, to create new and dynamic shopping opportunities that put our global customers on equal footing wherever in the world they reside."
Consumers around the world bid on six different Gift Card categories, concurrently. Each time a consumer bids on a Gift Card, the current price of that Gift Card is revealed and its price, simultaneously, is lowered by 0.20 (USD, AUD or Euro.) Successful bidders may purchase the Gift Card for the displayed price and then use the proceeds to purchase goods and services from virtually anywhere they choose including the DubLi Shopping Malls. Consumers who wish to participate in the new Xpress Gift Card auctions must first register for the DubLi VIP Member package, a complete access pass to everything DubLi.
About MediaNet Group Technologies, Inc.:
MediaNet Group Technologies, Inc. has created a global online shopping community that includes its reverse auction concept, shopping mall platform and entertainment portal. The Company's unique operating strategy combines online shopping with its distribution network to reach customers directly on a global scale.
The foundation of MediaNet Group is built on innovative technology, a global platform and an expertise in understanding and capitalizing on global economic trends and changing consumer behaviors. The central hub of the MediaNet Group community is DubLi.com from which all other components of the business model are derived.
