AGM Statement

RNS Number : 7304F

Bango PLC

29 May 2013

 



29 May 2013

BANGO PLC

("Bango")

AGM Statement

Bango (AIM: BGO), the mobile web payments and analytics company, will hold its Annual General Meeting at 2pm today, 29 May 2013, at Bango's headquarters located at 5 Westbrook Centre, Milton Road, Cambridge, CB4 1YG.

At the AGM Ray Anderson, CEO of Bango, will provide the following update on the continued progress within the business and with key partners.

End user spend showing strong growth

 
Daily end user spending in April was double the end user spend in December. On current trends, end user spend for the first half of 2013 will be double the end user spend for the previous six months - benefitting from growth in Blackberry, Google and Facebook activity. Legacy feature phone business is now well below 10% of end user activity.

Increased global operator connections

Direct operator connections increased from 100 in late March 2013 to over 110 today, in line with Bango targets. Rollout with Facebook has continued, and Bango powered operator billing is now live in Spain for Telefonica subscribers. Bango has been pleased with deployment to date. The Facebook service was launched in the USA in June 2012, the UK in June 2012, Germany in September 2012 and France in November 2012. 

In line with plans to enter emerging markets with major partners, Bango has started integration of its first Indian mobile operator.

In March Bango started to deliver some of its services from a newly deployed array of servers in Dallas, Texas. This is to enable faster interactions with mobile devices in North America, and establishes a model that can be replicated into other geographies if required.

Pipeline of new customer launches and roll-outs

Significant progress has also been made with Bango partners whose services are launched and now rolling out, as well as with partners who are in the pre-launch stages. Bango looks forward to updating the market further on these developments in due course.

Summary

During the first half of 2013 Bango has continued to make important progress, further establishing that it is the industry mobile operator billing platform of choice; cementing its central position within the smartphone marketplace.

Contact Details:

Bango plc		Newgate Threadneedle		Cenkos Securities plc
	Tel. [phone] www.bango.com		Tel. [phone]		Tel. [phone]
	Ray Anderson, CEO		Fiona Conroy		Ken Fleming
	Gerry Tucker, CFO		Caroline Evans-Jones		Neil McDonald

About Bango

In the era of mobile technology, collecting payments has emerged as a central and complex challenge. Bango (AIM: BGO) powers payment and analytics on the mobile web, providing users with a massively smooth payment experience.

Bango's pervasive presence across the web creates a platform effect for partners, identifying hundreds of millions of users and maximising the number of single click payments. Customers who plug into Bango include Facebook (NASDAQ: FB), Blackberry App World (NASDAQ: BBRY), Windows Marketplace (NASDAQ: MSFT), Amazon (NASDAQ: AMZN) and major mobile brands including CNN, Cartoon Network and EA Mobile. Visit: bango.com

 

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