12-4-13 11:34 AM EST | Email Article

Virtual Piggy, Inc. (OTCQB:VPIG), today announced the company has changed the name of their youth payments service to “Oink”.

Oink is an award-winning technology that enables teens to manage – with parental supervision – their allowances online, shop safely, and track budgets, thereby providing a “real world” experience to enhance their financial management skills. Oink is available online or via mobile, and is 100% free to use. Oink will continue to employ Virtual Piggy’s award-winning privacy protection protocols, compliant with the Children’s Online Privacy Protection Act (“COPPA”).

Virtual Piggy acquired the domain name oink.com from successful entrepreneur and founder of DIGG Kevin Rose, who had previously used the name as an app for business-evaluation services.

“Oink is a more appealing brand for teens, and a logical extension of the Virtual Piggy concept while retaining the brand heritage of the Piggy,” said Dr. Jo Webber, CEO and Founder of Oink and Virtual Piggy. “Our Oink rebrand signals our teen focus on their mobile lifestyle with in-store payment options coming in 2014. Moreover, it’s critical to reach teenagers when you’re trying to impact financial literacy.”

"I'm very proud to be part of a company that has created an innovative solution to address the significant national problem of financial literacy for youth,” said John Paul DeJoria of John Paul Mitchell Systems. “Oink gives teens greater ownership and control of their finances and guides online shopping, making sure that they can only make age-appropriate purchases. We are proud to be one of the first companies in this space of youth financial management. This will change how parents teach their children financial management. All families need this and it’s free to use.”

The publicly-listed company name, Virtual Piggy, Inc., will continue and the service will be known to consumers by the new brand name, “Oink.” In addition to its Board of Directors, Virtual Piggy has a Board of Advisors that includes Mr. DeJoria, as well as Emmy-winning actress Sela Ward, and entrepreneur Stedman Graham.

Visit www.oink.com for more information.

About Virtual Piggy, Inc.

Oink is the first e-commerce solution that enables kids to manage and spend money within parental controls. It enables parents to teach financial management through the use of a secure family wallet that is available online or via mobile and is always 100% free to use. The technology company delivers online security platforms designed for the Under 18 age group in the global online market, and also enables online businesses the ability to function in a manner consistent with the Children’s Online Privacy Protection Act (“COPPA”) and similar international children’s privacy laws. The company is based in Hermosa Beach, CA and on the Web at: www.oink.com

Safe Harbor Statement

All statements herein other than statements of historical facts are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Such statements are not guarantees of future performance and are subject to known and unknown risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. Such factors include, but are not limited to, our ability to raise additional capital, our limited operating history and revenue, our ability to attract and retain qualified personnel, our dependence on third party developers, our ability to develop new services, market acceptance of our services, legislative, regulatory and competitive developments, enforcement of our intellectual property, general economic conditions, as well as other factors set forth under the caption "Risk Factors" in our Forms 10-K filed with the SEC, and other filings with the SEC.

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