OLB Group Reports Third Consecutive Quarter of Revenue
OLB Group, Inc. (OTC BB: OLBG) announced today that the company is continues to book increased revenues from product and subscription sales. The company recently reported its third consecutive quarter of rising revenue due to the increase in interest in starting and building a home based business during a time where unemployment has increased dramatically over the past year. A significant part of the company's success in adding to its client list is the increasing number of "underemployed" people open to building another source of income.
Recently, the company launched a health insurance benefit platform which has generated a spike in inquiries from potential clients. The offered healthcare plan offers a subscribing client and their family affordable health insurance at a fraction of the cost of individual health coverage. As a ShopFast Distributor, clients qualify for a discounted group rate.
OLBG President and CEO, Ronny Yakov, said “With unemployment above 9% and some estimates of discouraged and underemployed people estimated to be over 16% of the U.S. labor force, OLBG is benefiting from an increase in clients and sales through the subscribing client's business website. In other words, the current economic environment actually increases the demand for our products as more and more people are forced to work from home and start home based businesses. The health insurance program we offer is yet another way that OLBG allows its distributors to carry the health insurance they need for their families, which they would otherwise not be able to afford.”
Mr. Yakov continued, "We offer our clients an end-to-end e-commerce solution, including site creation, hosting, transaction processing, order fulfillment, customer service, sales reporting. In addition, we provide our clients with a virtual inventory of name-brand products from top-selling categories on the Internet at preferential wholesale prices. With a private label shopping site designed by OLBG, a client site obtains a unique look and feel, differentiating its site from others on the internet. This turn key approach is clearly very popular to clients who want to open a home based business, but do not know where to begin. We feel that need. We look forward to continuing our positive trend in revenue growth and breaking into eventual profitability."
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