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

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news