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

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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