Bright Things plc Receives US$800K Investment in SocialGO from Veddis Ventures; Vikrant Bhargava Joins Board of Directors

By Socialgo, PRNE
Tuesday, January 12, 2010

Bright Things Acquires GOWIT Ltd.

REDWOOD CITY, California, January 13 - Bright Things plc announced today that its flagship venture, SocialGO
(www.socialgo.com), has received an US$800K investment from Gibraltar-based
Veddis Ventures. Vikrant Bhargava of Veddis Ventures has joined the board as
a non-executive director. In addition, Bright Things has acquired Get On With
It (GOWIT) Ltd., which has been providing development and support services
for SocialGO since 2007. GOWIT directors Stephen Hardman and Alex Halliday
will also join the board as joint managing directors.

SocialGO is a premium platform for creating social networking sites that
enables businesses, organizations and entrepreneurs to harness the power of
social media by creating online communities with full content and member
control, monetization, and customization features. Recently integrated with
Facebook and Twitter, SocialGO provides the functionality, widgets and
applications to empower businesses, educational entities, non-profit groups
and other organizations to network around shared interests, sell products and
services, fundraise and build their brands online.

"SocialGO has proven its subscription-based business model for creating
online social networks with solid month-over-month revenue growth," said
Vikrant Bhargava. "The company is poised for expansion, and I anticipate 2010
will be a banner year as subscriptions continue to grow."

Bhargava, who brings a wealth of expertise in internet-related industries
to SocialGO, co-founded PartyGaming plc and is largely credited with taking
that company from start-up in 2001 to nearly US$1B in revenue by 2006.

"We are pleased to welcome Vikrant Bhargava as a board member and are
looking forward to benefitting from his tremendous expertise in growing
online businesses," said Dominic Wheatley, CEO, Bright Things. "SocialGO is
experiencing good growth as businesses, non-profits, educational
establishments, entrepreneurs and other organizations increasingly recognize
the value of its offering of full ownership and control over membership and
content. This is a crucial differentiator when creating a social network that
supports a business, brand, cause or interest."

A SocialGO network - which can be quickly and easily created without
development expertise - may be seamlessly integrated into an existing website
or used to establish an online presence. The platform enables the creation of
a loyal, expansive customer base by establishing a web-based hub for all
things related to the business, organization, community or brand. For those
who lack time, SocialGO offers a Concierge service that will create a fully
customized, white-labeled social network and provide premium support.

About SocialGO

Founded in 2007, SocialGO provides a complete social networking platform
that enables businesses, organizations and entrepreneurs to reap the benefits
of social media. SocialGO's founders created an offering specifically
tailored to the needs of businesses and organizations for the monetization,
ownership, control and customization of content and membership. SocialGO has
headquarters in the UK and Silicon Valley to meet the demands of its global
customer base. For more information, please visit www.socialgo.com.

About Veddis Ventures

Veddis Ventures (www.veddis.com) is a Gibraltar based independent
investment management company. Veddis was founded in 2006 by highly
successful internet entrepreneurs and has since invested in a number of early
stage companies. Veddis invests in businesses with significant growth
potential, run by exceptional entrepreneurs with a particular focus on the
Telecom, Internet, Media and Entertainment industries mainly in Europe and
India. Veddis provides entrepreneurs with growth capital as well as
management expertise to assist small / mid-size businesses in achieving their
goals. Run by people with extensive operational backgrounds, Veddis
understands the challenges faced by early stage, high growth business and
provides solutions and strategic advice to meet these challenges. Veddis
takes a long term view on its investments and works closely with the founders
of the businesses it invests in, to maximize the value for shareholders.

About Bright Things plc

Bright Things plc (www.brightthings.com) is an innovative company created
by former senior executives of video game publisher Eidos.

media, Michael Burke, +1-415-989-9000, michael at msrcommunications.com, for SocialGO; or investment-related inquiries, Dominic Wheatley, CEO of Bright Things plc, +1-650-575-5659, dominic.wheatley at brightthings.com

YOUR VIEW POINT
NAME : (REQUIRED)
MAIL : (REQUIRED)
will not be displayed
WEBSITE : (OPTIONAL)
YOUR
COMMENT :