Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Snakk to list next month, boosts 1H sales 48 percent

Snakk to list next month, boosts 1H sales 48 percent

Feb. 21 (BusinessDesk) - Snakk Media, the latest brainchild of Hyperfactory co-founder Derek Handley, will list next month on the stock exchange's small-cap bourse as a pre-cursor to a capital raising.

The Auckland-based company, which aggregates publishers' ad space on mobile devices and matches it to advertisers' demand, will list on the NZAX on March 6 in a compliance listing, allowing future capital raising, it said in a statement. More than $750,000 was raised at the tail-end of last year.

As part of the listing, Snakk has appointed Jucy rentals co-founder Tim Alpe and Telecom general manager of market strategy Michelle Kong as directors, joining Handley on the Snakk board.

Xero chairman Philip Norman and Sean Joyce, who sits on the board of Snakk shareholder SeaDragon, resigned as Snakk directors last month, according to Companies Office filings.

The announcement comes after Snakk posted a 48 percent gain in sales to $1.22 million in the six months ended Sept. 30. The mobile ad company made a net loss of $610,000 in the year ended March 31 last year on sales of $1.99 million.

Snakk is on a growth strategy for the next 12 months with a focus on grabbing Australian market share, where the total spend on mobile advertising is projected to reach A$177 million by 2017.

Mobile device advertising firm The Hyperfactory was sold to US media firm Meredith in 2010.

(BusinessDesk)


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Net Annual Migration Passes 71,000

A record 71,300 more migrants arrived in New Zealand than left in the January 2017 year, Statistics New Zealand said today. This surpassed the previous annual record set in December 2016. More>>

ALSO:

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news