DubLi Leaves Auctions And Goes To Shopping Network: $11 Million Loss
DubLi's financial reportings for the yearly report shows an increase in revenue after leaving the auction program in fiscal 2013. They currently sell premium and V.I.P. member package susbscriptions to online customers.
DubLi is a global network marketing organization with Business Associate representatives in dozens of countries throughout the world.
Business Associates can offer a wide variety of products and services to their customers, many of whom are also recruited to become Business Associates themselves.
Business Associates earn commissions on sales of products and services that they sell directly, and earn commissions on downstream sales of products and services made by Business Associates that they recruit into the marketing network.
Although revenue increased from $15 Million to just under $18 Million, their operations cost nearly tripled from $7 Million to $29 Million.
Shares of stock have remained virtually the same over a 5 year period. DubLi remains a year behind on financial reporting.
About Dubli
DubLi, Inc. has created a framework for attracting and maintaining consumers through a web based shopping and entertainment community. The foundation of DubLi is based on innovative technology, a global platform and an expertise in understanding and capitalizing on global economic trends and changing consumer behaviors. The central hub of the DubLi community is DubLi.com; from which all other components of the business model are derived.
DubLi.com is a global shopping and entertainment web portal that features two reverse auctions, Xpress and Unique from which the Company's own currency, DubLi Credits, are banked, sold and spent. The Company supports four different auction websites in the US, Europe, Australia and a global portal in which people from all other countries can participate. In addition, DubLi.com features an online shopping mall which supplements the DubLi auction sites. From this mall, consumers shop at national, brand name merchants and earn cash back rebates on these purchases.
The Company has developed our own search feature designed to return only relevant results to the user. Supporting the growth of DubLi.com is the Company's sales and marketing engine, DubLi Network, a network marketing association of independent Business Associates who are engaged in direct marketing of the Company's products and services.