PALM BEACH, Florida, February 28, 2017 /PRNewswire/ --
Mobile online apps and mobile gaming apps have grown so rapidly in recent months with consumers constantly demanding more technological advancements. The recent trend of transforming apps and games into all-round entertainment franchises are opening up new ways of engagement and complementary revenue streams. Companies in focus in the markets include: Tapinator, Inc. (OTC: TAPM), Snap Inc. (NYSE: SNAP), Square, Inc. (NYSE: SQ), Glu Mobile Inc. (NASDAQ: GLUU) and IGG Inc (HKSE: 0799.HK).
Tapinator, Inc. (OTC: TAPM) reported in a Shareholder Letter issued today that 2016 represented another milestone year for Tapinator. Highlights included revenues to approximately $3.7mm in 2016 (unaudited), from approximately $2.4mm in 2015, representing a 52% increase, grew the adjusted EBITDA (an unaudited Non-GAAP measure) to approximately $900k in 2016, from approximately $500k in 2015, representing a 66% increase, released 114 new mobile games in 2016 and grew our worldwide player network to 360 million cumulative downloads of Tapinator's mobile games since the Company's inception in 2013. Read the entire Annual Shareholder Letter from Tapinator at: http://marketnewsupdates.com/news/tapm.html
More from the TAPM letter, we grew our average monthly active user base (MAU) 66% from 8.8 million players in Q4 2015 to 14.6 million players in Q4 2016. In 2017, we will continue the strategy we began implementing last year to gradually shift the Company's primary emphasis from our Rapid-Launch Games business to our Full-Featured Games business, an area in which we believe significantly greater long-term value can be created for our shareholders. To that end, we would expect our Full-Featured Games business to surpass our Rapid-Launch Games business from a bookings perspective for the first time by calendar year 2018.
In other industry news, developments and IPO happenings:
Snap Inc. (NYSE: SNAP) - How much will Snap Inc. be worth when it goes public this week? It depends on how you calculate it. The Snapchat parent company's initial public offering is expected this week, and there have been differing numbers on the market capitalization, or valuation, it will receive, with some outlets reporting less than $20 billion and others reporting more. Read more at http://finance.yahoo.com/m/9050985e-cfbb-3fa1-b788-39b8941321ea/ss_how-much-is-snapchat-worth-at.html Source: MarketWatch.com
Square, Inc. (NYSE: SQ) yesterday announced its intention to offer, subject to market conditions and other factors, $350 million aggregate principal amount of convertible senior notes due in 2022 (the "Notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act"). Square also expects to grant the initial purchasers of the Notes a 30-day option to purchase up to an additional $52.5 million aggregate principal amount of the Notes solely to cover over-allotments, if any.
Glu Mobile Inc. (NASDAQ: GLUU) closed up slightly on Monday at $2.00 trading over 6.3 Million shares by the market close. Glu Mobile is a leading global developer and publisher of free-to-play mobile games. Founded in 2001, Glu is headquartered in San Francisco with U.S. offices outside Seattle and in Burlingame, San Mateo, Long Beach and Portland, and international locations in Canada, China, India, Japan, and Russia.
IGG Inc (HKSE: 0799.HK) closed down slightly on Monday at $5.63 trading just over 6.7 Million shares by the market close. GG Inc, an investment holding company, develops and publishes mobile online games in North America, Asia, Europe, Oceania, South America, and Africa.
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