MOKO to hit 10 million in US

15/10/2013 - 09:45

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A Perth-based technology startup has struck a deal under which 10 million students in the US could be using its smartphone app.

MOKO Social Media chief executive Ian Rodwell

A Perth-based technology startup has struck a deal under which 10 million students in the US could be using its smartphone app.  

MOKO Social Media has signed an agreement with IM Leagues LLC, which operates the imleagues.com website used by sports departments in more than 600 US colleges to manage sports leagues.

The agreement gives MOKO exclusive access to IML’s data and the opportunity to market its mobile app to those 600 colleges, with a potential user base of up to 10 million students.

The smartphone app - REC.IT - would allow students to register for competitions and check data such as team scores and standings.

MOKO’s business case is founded on selling mobile advertising to companies seeking exposure to the US student audience.

The possible audience of 10 million students represents about half of the total US college student population.

The company is listed on the ASX and its shares rose 6.8 per cent in one day of trading to 15.5 cents each.

It’s also planning to raise $4 million through the placement of approximately 36 million shares to sophisticated and professional investors priced at 11 cents per share.

MOKO also has begun the process of listing its shares on the Nasdaq.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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