OLX Partners with ViTrue to Power User-Generated Videos; OLX.com is the World's First Classified Service to Feature User-Created Video Classifieds.ViTrue's User-Created Advertising Platform Enables OLX Community to Post and Search Video Classified Ads Globally ATLANTA -- ViTrue, Inc., pioneer of the world's first user-created advertising platform, today announced that it has been selected by OLX, the leading international classified site, to power user-generated video classifieds on OLX.com. OLX will be the first classified site on the Web to offer its global community the ability to easily create and publish user-created video classified ads. "We're proud to be the first classified service to empower a global community to easily post and view user-created video ads," said Fabrice Grinda, Co-CEO of OLX. "No medium is as informative and powerful as video, especially as a selling tool. ViTrue's technology platform integrated seamlessly with our current platform and it was launched in a matter of weeks, not months. It is the exact solution OLX needs to take online classifieds to the next level." Online classifieds continue to experience significant growth. A recent consumer traffic analysis done by ComScore Media Metrix found that traffic to the Online Classifieds category has grown 47 percent in the past year to 37.4 million Internet users Internet user n → internauta m/f Internet user Internet n → internaute m/f , reaching nearly 22 percent of the total Internet population. The analysis went on to further identify that people between the ages of 25-34, and those in households making at least $100,000 annually, were each 23 percent more likely than average to visit classified sites. This same demographic makes up a large portion of the user-generated content The production of content by the general public rather than by paid professionals and experts in the field. Mostly available on the Web via blogs and wikis, user-generated content refers to material such as the daily news, encyclopedias and other references, movie and product reviews as communities. With the partnership between ViTrue and OLX, this demographic will be able to unite these interests and experience user-generated video on an online classified site. "This partnership will rejuvenate re·ju·ve·nate tr.v. re·ju·ve·nat·ed, re·ju·ve·nat·ing, re·ju·ve·nates 1. To restore to youthful vigor or appearance; make young again. 2. and revolutionize rev·o·lu·tion·ize tr.v. rev·o·lu·tion·ized, rev·o·lu·tion·iz·ing, rev·o·lu·tion·iz·es 1. To bring about a radical change in: Television has revolutionized news coverage. 2. the online classifieds marketplace, which has remained slow to adopt new technologies since the launch of Craigslist in 1995," said Reggie Bradford, founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ViTrue. "Online videos help consumers make more informed decisions and have proven to generate improved results within community-based sites. OLX is ushering in Noun 1. ushering in - the introduction of something new; "it signalled the ushering in of a new era" first appearance, introduction, debut, entry, launching, unveiling - the act of beginning something new; "they looked forward to the debut of their new product line" a new era for its industry, as user-generated video will soon become a standard advertising vehicle for online classifieds and open a vast array of opportunities for the publishers of these ads, as well as traditional newspapers." About OLX, Inc. OLX is a next generation classified service offering a more local experience on a global level. As such, OLX is helping to create the social web by offering an easy to use, free online community service to help users to trade and sell their items, meet others, find an apartment, find a job, share their opinion and much more. The company was founded in March 2006 and is privately held. Additional information can be found at www.olx.com. About ViTrue, Inc. Headquartered in Atlanta, with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , ViTrue is reinventing the way brand marketing is created, priced and distributed via an online video platform that combines user services, user tools and brand partnerships. ViTrue's platform is a user-created advertising product that enables brands to leverage consumer creativity to produce more relevant and engaging advertisements at a lower cost of production. The Company's premier online video sharing See video sharing site. community www.sharkle.com, recently awarded "Best of the Web" Video Sharing site A Web site that lets people upload and share their video clips to the public at large or to invited guests. Acquired by Google in 2006, YouTube became the most popular video sharing site on the Web. See YouTube. by BusinessWeek along with Youtube and Google, is the destination for more than 100,000 registered members who are producing and sharing videos. For additional information, please visit www.vitrue.com. |
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