Snakk cashes in on growing mobile obsession

  • Technology
  • August 27, 2013
  • Amanda Sachtleben
Snakk cashes in on growing mobile obsession

Kiwi mobile advertising company Snakk Media's revenue has continued its upward trajectory as more Kiwis get mobile devices and use them to get online.

The company's unaudited revenue was a little over $1.2 million for the first quarter, up 116 percent on the same quarter last year. That follows revenue of $3.65 million for the year to 31 March, year on year growth of 83 percent.

Snakk carried out 398 campaigns for brands this year, 81 percent more than last year. Ryan says it agrees objectives with clients up front, whether it's app download targets, video views or clickthroughs to a landing page. Snakk's metrics showed it achieved objectives in 97 percent of cases.

Snakk demonstrated its market opportunity by highlighting New Zealand's smartphone penetration of 54 percent - up from 27 percent in 2011 - and smartphone internet use of 77 percent.

At the company's annual meeting yesterday, CEO Mark Ryan listed several goals the company had ticked off in the last 12 months, including capital raising of $6.5 million via a share purchase plan, and private placement.

Shareholder numbers have risen to 3333 and staff numbers, which began at four in 2011, are now up to 19.

Chairman Derek Handley says Snakk is focused on long term growth and is continually assessing opportunities four or five years ahead in a fast-changing landscape.

"Our goal is to position ourselves at the forefront and be as nimble as possible and be two or threeahead. "It's not about trying to pursue short term profits. Everything we do at Snakk is about the long term."

The company has been expanding and opening new offices in Australia, where it estimates its available market share is between 20 percent and 25 percent.

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