- Announces Plans for Direct Public Offering
SAN DIEGO, Calif. – July 12, 2015 – Pikkadilly, Inc. a comparison shopping solutions provider serving consumer electronics and home appliances consumers that need better, more relevant product, purchasing and retailer information, and enabling retailers to more intelligently market to end consumers (“Pikkadilly” or the “Company”) today announced that it has engaged Capital Services Group to provide strategic financial advisory services including investment packaging and integration of its Rule 506c Plug-In into its corporate website under a direct public offering of its shares.
The offering will be made available to the general public, its customers and other interested parties, under direct solicitation rules outlined in the new Rule 506(c), which eliminates the prohibition against general solicitation and advertising in connection with offerings under Rules 506 and 144A under the Securities Act of 1933.
Online retail sales are approaching $320 billion in the U.S. on an annualized basis, and account for approximately 7% of total retail sales. However, despite 90% growth since 2010, 60% to 70% of shopping carts are abandoned by consumers. Pikkadilly estimates that approximately $600 billion worth of merchandise will be abandoned in online shopping carts this year, and about 63% of that is potentially recoverable by smart online retailers.
Thomas Carter, CEO of Capital Services Group, said that “Pikkadilly Inc. was founded on the premise that there are all kinds of consumers with all kinds of wants and needs, and that by more effectively addressing these needs in the eCommerce sales cycle, merchants can materially reduce their abandonment rates. Shopping cart abandonment is a major pain point for online retailers, and Pikkadilly’s platform has tremendous potential to address that issue, resulting in increased sales to retailers on its platform and a better shopping experience to consumers that traffic Pikkadilly.com. We are excited to be working with Pikkadilly to enabling it to articulate that value proposition to the investment community.”
Pikkadilly has created a comparison shopping solution that reduces shopping cart abandonment by addressing consumer concerns before they begin shopping. Pikkadilly.com enables consumers to customize their experience, providing filters for their product search based on price, merchant reputation, shipping costs (displaying fees ahead of time), and return policy (communicating this up front). Based on the results, consumers can choose which sites and vendors they want to shop with. In addition, Pikaddilly.com will provide merchants with tools to offer coupons and discounts, as well as other incentives during the “shopping funnel” process, giving consumers more reasons to checkout.
The Company’s initial target application for its comparison shopping engine technology is consumer electronics and home appliances which we estimate represents more than $80 billion in online sales.
Forward Looking Statements
Certain of the statements included in this press release, which express a belief, expectation or intention, as well as those regarding future financial performance or results, or which are not historical facts, are “forward- looking” statements as that term is defined in the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. The words “expect”, “plan”, “believe”, “anticipate”, “project”, “estimate”, and similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance or events and such statements involve a number of risks, uncertainties and assumptions, including but not limited to industry conditions, regulatory changes, general economic conditions, interest rates, competition, and other factors. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
About Pikkadilly, Inc.
Pikkadilly, Inc. is an shopping comparison solutions provider serving the $80 billion consumer electronics and home appliances markets. For more information, go to www.pikkadilly.com.
About Capital Services Group
Based in San Diego, California, Capital Services Group was formed to provide emerging growth companies with resources and support to more efficiently access growth capital and investor support, including investment packaging, direct public offering, shareholder communications and an online investor marketplace.
Thomas Carter Capital Services Group, Inc. 760-845-7545