LOS ANGELES, Feb. 27, 2013 (GLOBE NEWSWIRE) -- EquityNet Research, an independent West Coast equity research firm based in Los Angeles, announced today that it has initiated research coverage on PITOOEY!, Inc. (OTCQB:PTOO). A full copy of the report and disclosure requirements is available at EquityNet Research's website: www.equitynet.net.
PITOOEY!, Inc. is a complete, "consumer-first" digital marketing agency that leverages its proprietary technology to assist companies in establishing and expanding their presence and interaction with new and existing customers.
Randy Lewis, CFA, Founder and Senior Analyst with EquityNet who is covering the Company, stated, "We are not only analysts, but consumers as well. And as consumers, we have experienced firsthand the inconvenience and inefficiency of push marketing. PITOOEY! represents a paradigm shift in the way businesses interact with their customers through today's available media – essentially by letting customers come to them, instead of the consistent clamoring for awareness and new business.
"We feel that it was only a matter of time before some thoughtful, experienced digital marketing company got the idea. The current 'daily deal' services model, while evolving, has shown several flaws. For businesses, the main flaw is that only a small portion of daily deal consumers are repeat purchasers. Only 3% of retailers got repeat customers out of daily deals promotions, according to a survey that Manta released last October. And businesses pay a hefty price for that one-off business – usually 50%. PITOOEY! solves this problem by putting the power back in the hands of the consumer. In short, people using the PITOOEY! app only receive messages from merchants that they themselves choose, not the other way around. We believe this is a model with tremendous potential." For more information on PITOOEY!, please visit www.pitooey.com.
About EquityNet Research
EquityNet Research was formed to provide the investing public with professional, independent, objective research on under-followed public companies. It does this by preparing detailed reports that highlight the key aspects of each company and its industry. EquityNet strictly maintains independence and objectivity according to the Standards of Professional Conduct of the CFA Institute (CFAI), and though is compensated for performing due diligence and creating reports, thus keeping its research free to the public, does not have extraneous relationships with its followed-companies nor has any present or future pecuniary benefit other than that disclosed for each company on its website. EquityNet was compensated $11,000 by the subject company for the preparation of the PITOOEY! report. EquityNet is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any specific securities.
The EquityNet Research logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7585
CONTACT: EquityNet Research Randy Lewis, CFA, MBA, Senior Analyst firstname.lastname@example.org 818.783.5006