Bango, the London-based mobile content company which helps third-party content reach mobile users, is to float on the Alternative Investment Market in UK. The company, which will try to raise 5 million GBP (about $9.11 million), will be valued at about 25 million GBP at the flotation, which is planned for June.
The company has roughly 2,000 users of its technology in more than 20 countries. These users offer services to about 2 million customers in 130 countries. Bango increased its revenues by 70 per cent to 3.4 million GBP in the year to the end of March 2005.
FT: Bango is owned by management and staff as well as investors – Herald Ventures and Close Brothers. Funds from the float would be used to secure Bango’s position in western Europe and gain a better foothold in the US.
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— Bango wins รข
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