FORT LAUDERDALE, Fla., April 29, 2015 (GLOBE NEWSWIRE) -- via PRWEB - RealBiz Media Group, Inc. (OTCQB: RBIZ), is pleased to announce significant strides in both cost reductions and revenue acceleration this quarter. After the first 60 days under the new CIO/COO and his CTO, RealBiz has seen an aggressive transformation of the company's operations, products and services resulting in the emergence of a leaner and more efficient organization. Changes have included streamlining the company's technology and marketing teams along with the elimination of a number of outside consulting firms. As a direct result of this, the company enters into its new quarter having achieved reductions in operation of over $80,000 monthly or roughly $1,000,000 annually from its overhead.
During this period the technology team has worked diligently to expand both the quality and capabilities of its video products and services for corporate accounts, large brokers and MLS clients while at the same time, customizing a new agent product line - PowerAgent. PowerAgent is an inclusionary product that spans the many platforms of the company's technical vista bringing together for the first time, NestBuilder, Ezflix, ReachFactor and the Home & Away Club. This package now offers comprehensive solutions for the agents' three basic needs: listings, leads and loyalty programs. For the first time in 2015, a product that combines these three necessities is being released to the public. As a result of these efforts, revenues for the corporation are continuing to accelerate and will show in excess of 30% growth during this quarter.
Alex Aliksanyan, CIO/COO of RealBiz stated, "Our goal was to both eliminate outside consultants and to streamline the organization into a smaller and highly talented team defined through clear vertical reporting and function requirements thereby producing a more market reactive organization. The benefits of these changes are clear from both a financial perspective as well as a product development view. Fewer lines to cross, quicker access to top management and fewer hands in the pot should result in a more reflexive company and the ability to shift priorities quickly based on customer demand and industry trends. From purely a financial perspective, not only are revenues ramping, but the old adage of 'a penny saved is a penny earned' is in full force when it comes to RealBiz. These changes move the company significantly closer to positive cash flow."
About RealBiz Media Group, Inc.
RealBiz Media Group, Inc. is a real estate digital media and technology company whose proprietary video processing technology makes it one of the leaders in providing home video tours to the real estate industry. Its client base reaches more than 350,000 real estate agents and brokers. The company provides a series of products including a consumer portal at http://www.nestbuilder.com, an agent-only platform known as Nestbuilder Agent, an agent social media and marketing solution known as ReachFactor, a growing MVA network, virtual tours and mobile apps. The company enjoys access to many of the nation's largest real estate companies with numerous approved vendors and national contracts.
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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