AppScatter drums up funds ahead of IPO next week

Oliver Haill WebFG News | 31 Aug, 2017 10:37 | | |

aplicaciones movil

AppScatter Group, a mobile app distribution platform, has attracted up £9m of new funds ahead of a flotation on the London Stock Exchange's AIM next week.

The company, which is led by experience AIM operator Philip Marcella as chief executive and small cap guru Clive Carter as chairman, will have a market capitalisation of £41.1m when it begins trading on 5 September.

Following admission, appScatter intends to launch the public version of the platform, at which point the platform will be available to all app developers and publishers worldwide.

The initial focus will be to rapidly grow free users and to convert them into paying users, launching the Marketplace in the fourth quarter to target an increase in retention and average revenue per paying user by selling add on services, integrating
other business-critical third party products and services with the platform.

In the future, appScatter hopes to monetise all the data it collects to provide users with insights on app performance.

Founder Marcella, who AIM investors may remember as boss of software firm RMR that floated in 2000, said: "We have quickly established a market leading position as the only full-service provider operating in this exciting space. We have been generating revenue from our growing user base since the beginning of this year and have a strong pipeline of blue chip companies that we intend to convert following the full launch of our unique platform following admission."

He hoped AIM admission will enable the company expand its market share and continue growing.

More news

19 Nov US close: Stocks end week on a soft note, White House in focus

Wall Street went into the weekend before Thanksgiving Day slightly lower, with analysts continuing to mull developments regarding Russia's alleged involvement in the US presidential election.

19 Nov Week ahead: Spotlight on Hammond

In the UK, the focus will be on the Chancellor's Budget on Wednesday, with fresh data on public sector net borrowing on Tuesday possibly helping to set the tone for his announcements.

19 Nov Sunday share tips: Merlin Entertainments, Amryt Pharma

Stock in Merlin Entertainments is best avoided, The Sunday Times's John Collingridge says, pointing to the increasing headwinds the company is facing in the UK which will be compounded by the outfit's strategy of focusing on growth overseas.

19 Nov Sunday newspaper round-up: Zimbabwe, Budget, Merkel

It felt like a revolution. They came from all over the country and all walks of life. Young and old, opposition activists and party apparatchiks, white farmers and black war veterans, housewives and their maids. For years many of them had been on opposing sides, but yesterday they had one common objective. "Mugabe must go!" read the banners as thousands of Zimbabweans filled the streets of Harare draped in their red, yellow, green and black flag, playing music, dancing and hugging strangers. - The Sunday Times

17 Nov Europe close: Stocks slip going into the weekend

Stocks reversed early gains as investors opted to play it safe going into the weekend and the euro edged a tad higher on the back of the political gyrations on Capitol Hill.

17 Nov Europe open: Stocks start slightly higher, analysts wary

Stocks have started the morning trading slightly higher, tracking overnight gains on Wall Street but analysts are worried about buying into Thursday's bounce.

17 Nov London close: Stocks finish week on down note

London's top flight index slipped on Friday, but managed to finish well-off its lows of the session despite renewed Brexit angst as the pound gave back early gains.

17 Nov Kingfisher gets RBC upgrade as 'reasons to be cheerful' in France

DIY retailer Kingfisher has more "reasons to be cheerful" thanks to an improving French outlook, analysts at RBC Capital Markets said on Friday, while clothes seller Supergroup remains "compelling" but its shares have gained a lot in recent weeks.

17 Nov NAV on the rise as Alpha Real Estate Trust turns focus to build-to-rent market

Real estate investment group Alpha Real Trust saw its net asset value (NAV) rise in its first half of trading as it moved to make further investments in build-to-rent projects.

17 Nov Pacific Industrial & Logistics completes sale of Bedford asset

Industrial and logistics-focussed real estate investment trust Pacific Industrial & Logistics has completed the sale of an asset located at Hammond Road, Bedford, for a total consideration of £5.8m, it announced on Friday.