Feeds

Bango to float

Bango IPO? Goodo

  • alert
  • submit to reddit

The Power of One Infographic

Bango - the UK outfit that helps companies flog content via mobile phones - is to float later this month on London's Alternative Investment Market (AIM).

The Initial Public Offering (IPO) looks set raise £5m for the company which it plans to use to develop its business in the UK and overseas.

No one from the company was available for comment at the time of writing but earlier reports suggest that the IPO would value the Cambridge company - which employs 28 workers - at around £25m.

Bango enables firms to cash in on selling content via mobile phones and includes The Sun, Camelot, Maxim magazine and Channel 4 among its list of punters.

By paying Bango a monthly fee, end users can then pay for content through their mobile phone bills or credit/debit cards.

In April, for instance, Bango's service was used by more than 140,000 end users from 85 countries to purchase content using mobile devices.

What's more, analysts predict that the global market for mobile internet content will explode over the next four years to around $59bn by 2009.

Said Bango chief exec Ray Anderson: "The increasing capacity of mobile phones to entertain large numbers of users is well recognised by content providers worldwide.

"The AIM admission and funding will increase our profile internationally and assist in exploiting our scaleable technology platform in new territories.

"We are building on the successful relationships we already have with many content providers and network operators and are expecting to see significant growth," he said.

In the year to March Bango generated revenues of £3.4m up 68 per cent on the previous financial year. The float is expected to be completed by the end of June. ®

Related stories

Orange shuts out adult content
So why does Vodafone filter block Sky News?
Bango bakes m-commerce cookies
Daily Sport trials porn to mobile phone service

The Power of One eBook: Top reasons to choose HP BladeSystem

More from The Register

next story
Major problems beset UK ISP filth filters: But it's OK, nobody uses them
It's almost as though pr0n was actually rather popular
Google Nest, ARM, Samsung pull out Thread to strangle ZigBee
But there's a flaw in Google's IP-based IoT system
Orange spent weekend spamming customers with TXTs
Zero, not infinity, is the Magic Number customers want
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
Apple orders huge MOUNTAIN of 80 MILLION 'Air' iPhone 6s
Bigger, harder trouser bulges foretold for fanbois
'Two-speed internet' storm turns FCC.gov into zero-speed website
Deadline for comments on net neutrality shake-up extended to Friday
NBN Co execs: No FTTN product until 2015
Faster? Not yet. Cheaper? No data
Oh girl, you jus' didn't: Level 3 slaps Verizon in Netflix throttle blowup
Just hook us up to more 10Gbps ports, backbone biz yells in tit-for-tat spat
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.