Ortsbo Celebrates First Anniversary with Key Patent Application
Intertainment Media Inc. is celebrating the first anniversary of its social media, real time, experiential communications platform Ortsbo with major milestone achievements. The service has generated over 367 Million Minutes of User Engagement, 303 Million Page Views, 111 Million Online Engagements from over 71 Million Unique Users, from over 170 countries and territories during its first year.
On July 21, 2011 Ortsbo expanded its intellectual property portfolio submitting a provisional patent application to the United State Patent and Trademark Office titled “System and Method of Translating Instant Messages”. The comprehensive patent application covers many of the innovative features found in Ortsbo’s product and services suite including the ability of translation of instant messages on multiple instant messaging networks and enabling language translation of instant messages where only one of the parties is a user using the translation enabled system. This is the 5th patent application submitted directly by, or purchased by Ortsbo in the past 60 days and provides a foundation for Ortsbo’s leading edge intellectual property multi-faceted experiential communications platform.
Intertainment entered a binding letter agreement, effective as of July 21, 2011, to purchase 100% of shares of SaaS Technologies Inc. which shares will be transferred to Ortsbo Inc. after the closing of the acquisition, making Ortsbo the sole owner of all of its technology and services offerings. The letter agreement provides for ownership and rights of several existing and new technologies where formerly Intertainment and Ortsbo had partial ownership agreements and exclusive licensing arrangements with management and development staff of SaaS remaining onboard. The purchase is valued at over $27 Million in a combination of cash and common stock of Intertainment with final details to be reflected in closing documents between the parties. This transaction and final agreements are subject to final board, escrow and regulatory approval.
Ortsbo’s social media offering continues to accelerate achieving record results for the first half of July 2011. Below are the reported results for Ortsbo’s first year together with semi-monthly results for July and Estimated Yearly Growth Trends based on the comparison of the reported results.
“This has been an amazing first year for the Ortsbo team. We achieved Facebook’s first 3 years of growth in 9 months, established a Guinness World Record for Most Nationalities in an online chat, and had world wide Live & Global events with KISS and Steve Nash, along with the development of a world class product, technology, marketing and execution team,” said David Lucatch, President of Ortsbo / CEO Intertainment Media “As we look towards our 2nd year, we continue to accelerate Ortsbo at record pace, have 5 patent applications in process, numerous branding activities underway with partners like INDYCAR and Variety, upcoming mobile releases and a bevy of revenue opportunities emerging. Amongst all this, it’s the emergence of our loyal users and supporters who have been the most exciting achievement as together we tear down the global language barriers.”
