This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Net Element Announces Acquisition Of VDream

Net Element (OTCQB:NETE), a publisher of digital destinations and Internet services provider, today announced that it has acquired vDream Inc., a privately held social gaming company based in Oakland, CA, in a stock and cash transaction. vDream, which received an initial seed investment from Facebook, offers car enthusiasts a unique application to build, customize and race their own cars within a competitive social community. It is currently accessible through such sites as Facebook, MySpace and Bebo.

Net Element will integrate the vDream services and technologies into Motorsport.com, which already offers race fans the latest rich-media content and video.

“The vDream acquisition reinforces Net Element’s commitment to the motorsport industry,” said Richard Lappenbusch, NETE’s president and COO. “This social game already has an incredibly loyal and growing community of car and motorsport fans. Leveraging vDream’s deep social gaming services will further differentiate Motorsport.com in the marketplace.”

During the next 18 months, vDream employees will work as consultants with members of the NETE team to ensure a seamless transition while NETE manages and operates the site and its games across all gaming platforms. All balances of vDream currency, known as “vDollars,” will be honored, and all players will retain their current balances and previous purchases.

The vDream team expressed excitement about the acquisition, saying it will benefit the interests of both companies. "vDream and Motorsport.com have very well-aligned visions and are a great fit,” said Lijen Tan, vDream’s CEO. “Current vDream users will be very excited with what Motorsport.com has to offer, and vDream will be able to better serve its amazing community of car enthusiasts with the opportunities for new content and features that Motorsport.com brings to the table."

Naveen Jain, vDream’s CFO, echoed Tan’s words. “It is a huge win for current users of both sites, and we're very excited to be a part of the Net Element family,” Jain said. “We believe strongly in Net Element's vision and look forward to expose the vDream users to the wealth of high-quality content to Motorsport.com while bringing a new and unique opportunity for user engagement to Motorsport.com.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs