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Bango
- BY: Andrew Hore |
- POSTED: 16/11/2011 |
Bango says that growth in revenues from the Blackberry-related App store is slower than anticipated.
Merchant Securities believes full year revenues could be £20m, which means that Bango will do well to do much more than break even. Shares in Bango fell 12.5p to 52.5p each, which values the company at £20m. Net cash was £2.7m at the end of September 2011.
Bango‘s technology enables content providers to market and deliver content over mobile phones using mobile internet. The Blackberry App store has 17 carriers connected to it through Bango and a further 43 are being connected, which will generate an initial connection fee. The BlackBerry Messenger Music service has been launched and will contribute revenues in the fourth quarter.
Revenues from the Opera App store are building up, while analytics transaction volumes trebled in the first half.
The interim figures will be released on 29 November
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2011_26.pdf
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