MMAX Media, Inc. Launches PayMeOn Merchant Profit Center
Merchant Profit Center here to help merchants
MMAX Media, Inc. (Over The Counter Bulletin Board – OTCBB ticker symbol; MMAX) has just added onto to its very successful PayMeOn platform. The PayMeOn platform uses the couponer as a viral springboard, cyberly launching to friends and family members in order to fill the deal. The company announced today the official launch of the PayMeOn Merchant Profit Center.
Merchants are well aware of daily deals and when properly employed the ability to drive “customer traffic.” However, merchants continue to deal with to key factors and frustrations:
- The limited amounts of money they are able to retain from their own deals due to the high revenue shares demanded by daily deal companies.
- The difficulty of retaining customers once they have taken advantage of daily deals.
According to Ed Cespedes, CEO of MMAX Media and PayMeOn, “We have spent time listening to our merchants and thinking through their legitimate business concerns. While they want to participate in the fast growing daily deals space, they want to do so in a way that makes sense for their businesses. Fortunately for us, the PayMeOn platform, complete with all its mobile and social income components, enabled us to construct a product that addresses all merchants’ needs and allows them to participate in the daily deal space in a very effective and profitable manner.”
The PayMeOn Merchant Profit Center provides merchants with the ability to:
- Run multiple daily deals during the year, usually with only 48 hours notice, and keep up to 90% of the proceeds
- Capture their customers in PayMeOn’s state of the art mobile platform and generate repeat visits and business, increasing the ROI on their daily deal marketing
- Anchor their customers to their PayMeOn Merchant Profit Center accounts and earn additional income from them every time they spend money anywhere in the PayMeOn network
Mr. Cespedes continued, “By bringing our mobile and social income components to the merchant side of PayMeOn and allowing merchants to retain nearly all of the proceeds of their daily deals, we believe we have created a great opportunity for merchants to really increase the value of their businesses using daily deals as an entry point to new customers and repeat business. We believe there is no other product in the market like the PayMeOn Merchant Profit Center today.”
An update on MMAX Media, Inc.
Since featuring MMAX Media on July 4th, 2011, the shares gained about 35% over the next 30 days. Unfortunately, that was all she wrote. While the rest of the markets have enjoyed a decent 5 months, MMAX has lost nearly 87% of its market value. The market capitalization as of this posting is a mere $3 million. This is down $13 million in July and over $20 million in August.
Mr. Cespedes is also taking the brunt of this hit as my sources say he still controls between 25% and 30% of shares in the company. Trading volume is a lethargic 28,000 shares a day and represents less than $2000 in traded stock daily (based on .07 per share as of this post).
Financially losses continue to mount as Selling General and Administrative (SG&A) costs escalated as seems to be typical in the daily deal industry. MMAX also took a big hit or write off to the tune $4.7 million for ‘impairment of goodwill’ based on the company’s latest 10-Q filing.
Mr. Cespedes certainly has his work cut out for him and his company. I’ll continue to monitor MMAX Media, Inc. and I hope this turns into a success story.
Source: PRNewswire
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