24th Apr 2008 13:15
Bright Things plc24 April 2008 Bright Things plc ('Bright Things' or the 'Company') Market update ------------- Following completion of the acquisition of CommonWorld Ltd on 27th December2007, the company is pleased to announce that the development of its social networking product is progressing well. The product, now titled "SocialGO", has entered the first beta testing stagewith a small number of organizations. The feedback from these test sites willhelp refine the product for further, larger scale second stage beta testing inpreparation for a commercial launch provisionally scheduled during the summer. Once the service has been successfully introduced we will increase our marketingactivity through the latter part of the year. SocialGO will be a premium service that allows users to create their own privatesocial network (with similar functions and features to Facebook or myspace) forany organization or group. Examples of such groups could include businesses,sports clubs, extended families, church congregations, schools or universities,trade or hobby associations or parish councils all of which could benefit fromthe service, which seeks to draw exiting communities together. This is donethrough the sharing of blogs, photos, music and video, the ability to organizeevents, create special groups within the network, introduce relevant news feedsand facilitate forums. It will also offer instant messaging and video chatbetween members of each network as well as allowing broadcasts and bulletins andprofile sharing. As a browser based service, it is operated from dedicatedservers and does not require software downloads. In this way, members of anetwork can access it from anywhere in the world. SocialGO will be 'advertising free', secure and private and there will be noexploitation of users or members details. Instead, the user or 'owner' of eachprivate network will pay a small monthly premium while their invited memberswill enjoy free access. This subscription based business model should result inthe steady increase of revenue to the company over time, and allow the constantrefining of the product and addition of new services to users. As we enter the next stage of development we would be pleased to hear fromshareholders who would like to be part of our limited beta program due to startin late May. Please contact [email protected]. The company continues to consider potential new iDVD games, but has no furthernews to add since our last update on Tiger Woods Golf. We continue to receiveenquiries about our ASIC chip technology and have had discussions with severalgroups. For further information please contact: Bright Things PLC Tel: 0870 351 7770Dominic Wheatley, CEOEdward Levey, Finance Director HB CorporateLuke Cairns/ Rory Creedon Tel: +44 (0) 207 510 8600 Brunswick GroupGiles Croot / Mark Antelme, Tel: +44 (0) 207 404 5959 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tavistock