SAN FRANCISCO, Sept. 8, 2009 (GLOBE NEWSWIRE) -- GetFugu, Inc. (OTCBB:GFGU) www.GetFugu.com, the technology company introducing the revolutionary new "See It," vision recognition (ARL) "Say It," voice recognition (VRL); "Find It," location recognition (GRL); and "Get It," Hot-Spotting mobile search tools, tomorrow (09/09/09), reported today that is has received $4 million in investment capital from SpongeTech(r) Delivery Systems, Inc. (OTCBB:SPNG) The investment was a result of GetFugu's successful customization of its mobile based web search and e-commerce technology specifically designed for SpongeTech. SpongeTech will be the first company to utilize GetFugu's innovative mobile search platform. Investment banking firm, Cresta Capital Strategies, LLC, was the advisor on the transaction.
GetFugu will point SpongeTech consumers to the nearest retail location that carries SpongeTech products based on the GPS functionality available in most mobile phones and/or be automatically connected to SpongeTech's corporate Internet e-commerce portal to buy SpongeTech products on-line. The following video, (http://www.GetFugu.com/video), demonstrates how a consumer seeing a SpongeTech TV ad utilizes the GetFugu platform to purchase a SpongeTech product. SpongeTech: See It, Say It, Find It, Get It! "SpongeTech expects to be in over 100,000 locations nationwide by the end of the year. Purchases of our products are primarily impulse oriented, driven by our extensive branding and advertising campaigns. As we look to immediately satisfy our customers demand, utilizing the most personal and accessible device available, GetFugu will literally change the way consumers behave," commented COO of SpongeTech, Steven Moskowitz.
"Since SpongeTech derives most of their revenue from television advertising, it makes sense for them to partner with a company they believe could accomplish this breakthrough in technology, which will result in a sales engine never before seen," commented Rich Jenkins, GetFugu's co-founder and head of business development.
GetFugu's unique technology is targeted at the growing surge of the world's population that regularly utilize mobile phones to search for entertainment, news, sports, shopping, and every other thing available on the Internet.
GetFugu, Inc. (OTCBB:GFGU) is the first technology architect to provide a carrier agnostic, platform agnostic mobile search platform. GetFugu will change the way people access the web with their mobile phones. It is designed to encourage use of its applications by simply integrating the mobile phones' core strengths (image recognition, voice recognition, location recognition) into a single customizable application. Additionally, GetFugu offers the only mobile hot-spotting ecommerce platform available worldwide today. The GetFugu platform will be available for 97% of the mobile phones available (over 3.3 billion handsets) worldwide. For more information on GetFugu, visit: www.GetFugu.com.
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: www.spongetechinc.com