Mooter Media entered into a Heads of Agreement with a Netherlands based company, Woophy BV, (“Woophy”) to incorporate a new joint venture company specifically established to expand and develop Woophy’s unique geo- targeted photo sharing website and expanding online global community of approximately 40,000 international members. The new Joint venture company, Woophy, Inc. will be registered in the US and will be integrated into – and operated from – the Hot Shot/Mooter development centre in San Francisco. All intellectual property, user base and other tangibles from the existing Dutch parent corporation will be transferred into the new company. Hot Shot/Mooter will hold 80% of this new entity, with the remainder to be held by the Woophy’s founders and staff.
Visit the Woophy website at: www.woophy.com and to actively participate in viewing and contributing photos. The site will give you a direct understanding of how a number of the Hot Shot photo-centric activities will be coordinated on a global scale. Mooter will shortly release a detailed profile on how this site, together with other exciting new sites and the Hot Shot ImageSocial photo networking platform, all relate together in a unique and compelling user entertainment experience.