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OLX Partners With ViTrue to Power User-Generated Videos

Posted on: Monday, 22 January 2007, 09:00 CST

ViTrue, Inc., pioneer of the world's first user-created advertising platform, today announced that it has been selected by OLX, the leading international classified site, to power user-generated video classifieds on OLX.com. OLX will be the first classified site on the Web to offer its global community the ability to easily create and publish user-created video classified ads.

"We're proud to be the first classified service to empower a global community to easily post and view user-created video ads," said Fabrice Grinda, Co-CEO of OLX. "No medium is as informative and powerful as video, especially as a selling tool. ViTrue's technology platform integrated seamlessly with our current platform and it was launched in a matter of weeks, not months. It is the exact solution OLX needs to take online classifieds to the next level."

Online classifieds continue to experience significant growth. A recent consumer traffic analysis done by ComScore Media Metrix found that traffic to the Online Classifieds category has grown 47 percent in the past year to 37.4 million Internet users, reaching nearly 22 percent of the total Internet population. The analysis went on to further identify that people between the ages of 25-34, and those in households making at least $100,000 annually, were each 23 percent more likely than average to visit classified sites. This same demographic makes up a large portion of the user-generated content communities. With the partnership between ViTrue and OLX, this demographic will be able to unite these interests and experience user-generated video on an online classified site.

"This partnership will rejuvenate and revolutionize the online classifieds marketplace, which has remained slow to adopt new technologies since the launch of Craigslist in 1995," said Reggie Bradford, founder and CEO of ViTrue. "Online videos help consumers make more informed decisions and have proven to generate improved results within community-based sites. OLX is ushering in a new era for its industry, as user-generated video will soon become a standard advertising vehicle for online classifieds and open a vast array of opportunities for the publishers of these ads, as well as traditional newspapers."

About OLX, Inc.

OLX is a next generation classified service offering a more local experience on a global level. As such, OLX is helping to create the social web by offering an easy to use, free online community service to help users to trade and sell their items, meet others, find an apartment, find a job, share their opinion and much more. The company was founded in March 2006 and is privately held. Additional information can be found at www.olx.com.

About ViTrue, Inc.

Headquartered in Atlanta, with offices in New York and San Francisco, ViTrue is reinventing the way brand marketing is created, priced and distributed via an online video platform that combines user services, user tools and brand partnerships. ViTrue's platform is a user-created advertising product that enables brands to leverage consumer creativity to produce more relevant and engaging advertisements at a lower cost of production. The Company's premier online video sharing community www.sharkle.com, recently awarded "Best of the Web" Video Sharing site by BusinessWeek along with Youtube and Google, is the destination for more than 100,000 registered members who are producing and sharing videos. For additional information, please visit www.vitrue.com.

Source: Business Wire

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