Zhenya Tsvetnenko’s Tech Mpire re-listed on the ASX today after completing a reverse takeover transaction with Fortunis Resources and raising $6 million in the process.
After announcing the news to the market, Mpire shares took off. A short time ago the stock was up 17.647% to $0.40 a share.
Here’s the chart.
Mpire’s revenue has grown from $AU1.25 million in April to $1.58 million in May and managing director Luke Taylor said it’s on track for a massive June quarter as it chases global growth.
“Recent trading further validates our model and its commercial potential with growth tracking well ahead of expectations and culminating in 27% month-on-month growth in May,” Taylor said.
Founded in 2008, the company connects advertisers and consumers on its mobile platform. Its existing clients include Facebook, Amazon, Samsung, Expedia and Alibaba. This chart shows the company’s revenue growth over the past financial year.