China YouTV's CnBoo Hosted HABBO Original DV Shorts Contest
Wednesday August 29, 12:45 pm ET
BEIJING, CHINA--(MARKET WIRE)--Aug 29, 2007 -- China YouTV Corp. (OTC BB:CYTV.OB - News), a publicly traded company that provides online video viewing services through its CnBoo web site in China, reported that its Chinese Joint Venture Partner HuaJu has signed agreement to hosted "HABBO Original DV Shorts Contest" on www.cnboo.com with Sulake Corporation Ltd.
According to the contract, "HABBO Original DV Shorts Contest" will be hosted on CnBoo.com from August 8 to September 8, 2007. CnBoo is the only online video website partner for this contest.
The Company believes that on-line activities like this will increase its membership and online content, which fits with the company's developing strategy: increase its volume of content on-line, and raise brand awareness and membership as quickly as possible through various channels, which in the video sharing business, as in the case of YouTube, could translate into an increased value of the Company.
About Sulake Corporation Ltd. and HABBO web site:
HABBO is a registered trademark of Sulake Corporation Ltd. HABBO is one the world's largest and fastest growing virtual worlds and social networking services for teenagers. Localized HABBO communities all around the world are visited by millions of teenagers every week. HABBO has HABBO Home, HABBO Hotel, HABBO Games and several other brand extensions.
For more information, please go to www.chinayoutv.com.
About China YouTV Corporation:
The Company signed a Definitive Agreement with HuaJu to set up a Joint Venture in China on March 16, 2007. According to the Agreement, the China YouTV Corp. owns 51% of the joint venture company and will provide the required working capital for the Joint Venture. HuaJu will be in charge of the daily operation of the Joint Venture. HuaJu has agreed to conduct its video sharing business only through the Joint Venture, and has agreed to contribute its web site, www.CnBoo.com and customer contracts to the Joint Venture.
www.CnBoo.com ("CnBoo") is the online video site belonging to the Joint Venture established by China YouTV Corp. and HuaJu. It is a video viewing site and social networking site that allows users to create their own profiles, post videos, and comment on each other's posts. The CnBoo web site is similar to YouTube (www.YouTube.com), the No. 1 online video site in operation. Within less than 2 years, CnBoo already has over 1.2 million members and over 2 million pieces of original digital video (DV) shorts.
To increase membership and CnBoo's brand name awareness, HuaJu has worked both on-line and off-line.
On-line: HuaJu has signed several agreements to enhance its on-line contents, such as an agreement for CCTV's TV program "Exploring High and Low", an agreement with ManGoCity, a travel company, an agreement with Megadia to host Humor channel on CnBoo web site, and the recently signed agreement with Music Nation and VVSky to add more music on its web site and the recent advertisement exchanged agreement with 3g4a's subsidiary: Unlimited Chance Technology Development Co. Ltd.
Off-line: HuaJu has signed several agreements to promote its 3G space cards, such as the agreement with Gome Electrical Appliances Holding Ltd., the largest chain store operator of electrical appliances in China to distribute its 3G digital space cards to Gome customers; an agreement with HURRAY, a NASDAQ listed company, for the launch of 3G experience terminals in Gome's stores; an agreement with ManGoCity, and a promotion agreement with Z-Card. HuaJu also got exclusive right from AIDS Prevention Education Project for Chinese Youth to negotiate with investors to install LED displays in the colleges and universities across China. All LEDs will have HuaJu and CnBoo's logo on it.
The Company has shown increasing popularity as its CnBoo web sites had been ranked No.1 on Microsoft Live, No. 1 on Google China, No.7 on BaiDu, No.11 on Yahoo China and No.12 on Google China when searching for keywords: on-line video, and on-line video sharing web sites.
The Company has changed its name to China YouTV this year to reflect its new business operations: the fast growing video sharing web site market in China.
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