AppBox Media Exceeds Growth Targets as it Launches 6th Round Fund Raise

Nov 25, 2015, 04:58 ET from AppBox Media

LONDON, November 25, 2015 /PRNewswire/ --

 

  • Set to launch over six apps in next three months
  • Secures £2.5 million contracts in last six months

The Board of AppBox Media PLC (AppBox Media), a UK based developer of mobile applications and video games, provided the market today with an update on a series of key developments that progresses AppBox Media closer towards its vision of becoming one of world's leading game software and mobile applications developers.

Launched in July 2013 AppBox Media has been revenue producing since July 2014. In the last six months it has secured contracts worth up to £2.5 million. The most recent contract is expected to earn the company £375,000 over the next 12 months.

Following the fully subscribed first 5 rounds of fund raising, AppBox Media is set to launch a 6th round on 8th February 2016 priced at £12.40 per Ordinary A Share of £1.00 each. The company intends to raise approximately £1,240,000 from institutional and private investors on the basis of a current Information Memorandum.  

AppBox Media's Can I Cook It? app went live in November. Owing to the popularity of this app, the Company has decided to bring its North American launch forward from quarter 1 2016 to the current quarter. It is expected that Can I Cook It? will have reached over 1 million downloads by June 2016.

In October the company announced the launch of a University App development competition, The App-rentice, under the AppBox Beta brand. Two new apps have been launched under the brand. AppBox Media is currently the largest sponsor of students in London belonging to games related societies.

In recognition of the increasing positive impact the technology sector has on UK growth, AppBox Media is working with two multinational app developers to create a social network that can build on the success of other established brands.

Further progress 

  • Radio App - The company is making a not-for-profit app for Radio Lollipop, the volunteer radio station for Great Ormond Street Hospital, to enable volunteers to interact further with the patients at the hospital.

    Launch date: End of December 2015

  • Oscar the Octopus - a range of apps under their newest trademarked character 'Oscar the Octopus'. The adventures of Oscar the Octopus is aimed at the children's market. The Company has already received an offer to licence this character to feature in a series of children's books.

    In 2016, Iranian documentary maker, Houtan, will make a film covering the growth of AppBox Media Plc. It will focus on the marketing of 'Oscar the Octopus.'

    Launch date: 16th December 2015

  • The EIS App - aimed at helping investors and company directors looking to qualify under the UK government's EIS (Enterprise Investment Scheme). This will be the first app of its kind.

    Launch date: Christmas 2015

Commenting on today's news, Polat Hassan, CEO of AppBox Media, said:

"I am delighted to report such great progress and a strong pipeline. It is extremely encouraging to have the confidence of our investors who have and continue to back us.

"We have seen increases right across the board, from earnings, downloads and the number of apps developed through to retention rates.

"To see one of our characters the subject of a bid for a children's book and to be working on a cutting edge social network, whilst being the subject of a documentary, is extremely exciting and motivating.

"In addition, we have made huge progress on our research into emotional intelligence and machine learning that has meant we have a strong pipeline of at least six apps schedule for release by the end of March next year."

Notes to Editors:

About AppBox Media 

AppBox Media Plc is a mobile application software development company. Its products are available across Apple iOS and Google Android, and are available for instant download across smartphone and tablet devices.

The founders, developers and project managers have a proven track-record at a number of worldwide organisations; including designing and building applications for organisations including Universal Pictures, Motorola, Toshiba, SEGA, and Fujitsu. 

AppBox Media's footprint has been established through the launch of 6 games, the Can I Cook It app and the University App development competition under the AppBox Beta brand, through which two apps have been developed. The team are now working to diversify the portfolio in a mixture of areas such as marketing and advertising, social networking, medical and financial.

The company's current valuation stands at around £12 million.

AppBox Media is a qualified Enterprise Investment Scheme and to date has raised over £3 million.

For further details about AppBox Media and its apps visit: http://www.appboxmedia.com    

 

SOURCE AppBox Media