ATLANTA, GA / March 3, 2020 / uBid Holdings, Inc. (OTCQB:UBID) (the "Company" or "uBid"), a diversified holding company, is pleased to announce the closing of the acquisition of Restaurant.com, Inc., which offers discounted restaurant certificates online and an incentive and loyalty program, at www.restaurant.com.
For the year ended December 31, 2019, Restaurant.com generated $10.6 million in revenue, unaudited. Founded in 1999, Restaurant.com is the trusted and valued source connecting diners, restaurants and communities nationwide, offering more than 50,000 dining and merchant deal options at more than 15,000 restaurants and retailers to over 7.8 million customers. Restaurant.com brings people together to relax, converse, and enjoy their dining experiences at affordable prices. To date, Restaurant.com customers have saved close to $2 billion through their program.
Kenneth Chessick, Chief Executive Officer of Restaurant.com, commented, "We are really excited to join forces with uBid in building a diverse online e-commerce platform that can cross-sell across many different categories. Over the years, we have built a strong network of vendors, products, and customers. We look forward to implementing such strategies with uBid."
uBid Chief Executive Officer, Ketan Thakker, commented, "We are delighted that Restaurant.com is going to be part of our uBid family and solidifies our long-term strategy in becoming a significant online e-commerce platform. Restaurant.com has built a formidable and compelling business, which is demonstrated by its breadth of products and its loyal customer base."
Maxim Group, LLC is a Financial Advisor to the Company.
About uBid Holdings, Inc.
uBid Holdings, Inc. (OTCQB:UBID) is a diversified holding company whose strategic plan is to acquire interests in emerging businesses and provides financing, advice, and guidance to assist them in realizing their potential. It continues to identify and evaluate potential acquisitions that its Management believes it will create shareholder value and a return on investment. For more information, visit: ubidholdings.com
Ubid, Uwin, Usave, it is all about U! It isn't just a clever tag line; it spells out exactly how uBid feels about what it does. Whether it is computers, memorabilia, or household goods, uBid has a single-minded focus on saving you money by allowing you to determine how much you pay for any item. uBid makes the process easy to understand, engaging, and fun. Its customers are its inspiration; they motivate uBid to seek out better, more valuable products, allowing uBid more opportunities to save money by determining what its customers want to pay for it. Its online marketplace provides the perfect outlet for manufacturers, retailers, distributors, and other suppliers to sell all types of products to a base of highly motivated consumers. For more information, visit https://ubidholdings.com.
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