Mobile commerce transactions software provider MoPowered says that 2013 revenues were more than £1m.
MoPowered finished the year with 127 contracted clients and the money raised in the flotation last month will enable acceleration of customer acquisition. Gross margins were lower than expected but management believes that cost savings will offset that.
At 102p a share, MoPowered is valued at £16.1m.
At the beginning of January, Stephen Townend, who is one of the company’s founders, reduced his stake from 555,000 shares to 60,000 shares.
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