Remark Media Acquires TaxExtension.com; Terms Undisclosed
Remark Media (NASDAQ: MARK), a global digital media company and operator of financial services focused media properties, announced today that it has acquired the assets of TaxExtension.com, the pioneering leader in the online tax extension industry since 1997. "We are very excited about adding TaxExtension.com to our personal finance vertical," said Shing Tao, Chairman and Chief Executive Officer of Remark Media, Inc. "TaxExtension.com pioneered the online tax extension industry with its launch in 1997. It has built a sizable and loyal customer base processing online tax extensions over the past 17 tax seasons, making it a perfect complement to our existing tax related portfolio that includes IRS.com and FileLater.com. By leveraging our existing proprietary tax extension platform, we anticipate adding business tax extensions to the existing suite of TaxExtension.com's services. We are excited about the impact the acquisition of this category killer domain will have for our portfolio in the upcoming 2014 tax season."
About Remark Media
Remark Media, Inc. (NASDAQ: MARK) is a global digital media company focusing on delivering original content to the 18-to-34 year old demographic primarily in Asia and the United States through its assets focused on consumer verticals, including: Bikini.com, Banks.com, US Tax Center at IRS.com, FileLater, TaxExtension.com, MyStockFund, BoWenWang and ComoTudoFunciona. The Company is headquartered in Las Vegas, with operations in Beijing, China and Sao Paulo, Brazil.
This press release contains "forward-looking statements," as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be in the future tense, and often include words such as "anticipate", "expect", "project", "believe", "plan", "estimate", "intend", "will" and "may". These statements are based on current expectations, but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of Remark Media. Relevant risks and uncertainties include those referenced in Remark Media's filings with the SEC, and include but are not limited to: our losses and need to raise capital; successfully developing and launching the Boxing Channel; reliance on third parties such as PPTV; ability to procure content and monetize audiences; restrictions on intellectual property under agreements with third parties; challenges inherent in developing an online business; reliance on key personnel; risks of business in foreign countries, notably China and Brazil, including obtaining regulatory approvals and adjusting to changing political and economic policies; governmental laws and regulations, including unclear and changing laws and regulations related to the internet sector in foreign countries, especially China; general industry conditions and competition; and general economic conditions, such as advertising rate, interest rate and currency exchange rate fluctuations. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking statements, and therefore should be carefully considered. Remark Media assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
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