uBid Holdings Provides Update on SkyAuction

ATLANTA, GA / ACCESSWIRE / February 18, 2020 / uBid Holdings, Inc. UBID (the "Company" or "uBid"), a diversified holding company, is pleased to announce the Company has reached an agreement with the SkyAuction team so that SkyAuction continues as a wholly-owned operating subsidiary under the uBid corporate structure. This supercedes previously reported information.

SkyAuction generated revenues of $4,341,000 for the year-ended December 31, 2019, unaudited.

uBid Chief Executive Officer Ketan Thakker commented, "We are pleased to report we have come to a mutually beneficial agreement with SkyAuction to keep it under the uBid corporate structure. In addition, our team is continuing to pursue Company plans for acquisition of complementary and accretive technology-based companies for the benefit of the uBid shareholders."

About uBid Holdings, Inc.

uBid Holdings, Inc. UBID is a diversified holding company whose strategic plan is to acquire interests in young businesses, and provide financing, advice and guidance to assist them in realizing their potential. It continues to identify and evaluate potential acquisitions that its Management believes will create shareholder value and a return on investment. For more information, visit: ubidholdings.com

Ubid, Uwin, Usave, it is all about U! It isn't just a clever tag line it spells out exactly how uBid feels about what it does. Whether it is computers, memorabilia or a trip to Orlando, uBid has a single-minded focus on saving you money by allowing you to determine how much you pay for any item. uBid makes the process easy to understand, engaging and fun. Its customers are its inspiration; they motivate uBid to seek out better, more valuable products, allowing uBid more opportunities to save money by determining what its customers want to pay for it. Its online marketplace provides the perfect outlet for manufacturers, retailers, distributors, and other suppliers to sell all types of products to a base of highly motivated consumers. For more information, visit: http://www.ubidholdings.com.

Forward-Looking Statements

Unaudited financial figures may change due to the result of completion of pending audits. Press Releases may include forward-looking statements. In particular, the words "believe," "may," "could," "should," "expect," "anticipate," "estimate," "project," "propose," "plan," "intend," and similar conditional words and expressions are intended to identify forward-looking statements. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Accordingly, you should not place undue reliance on these forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the Company. Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although uBid believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, uBid is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the Company's ability identify a suitable business model for the Company.

Media and Investors Contacts:

p212-486-1250
IR@ubid.com

SOURCE: uBid Holdings, Inc.