Dwango CEO Replaced; Q2 Revs Drop

Dwango, the Seattle-based mobile content vendor/provider, has replaced its CEO: Rick Hennessey, resigned as CEO and a member of the board today, and Alexander Conrad, who till now was the COO, has been named the interim CEO.
The company also announced its Q2 results today: It has total revenues of $885,000 for the Q2, a decrease of 17% from $1.06 million in the first quarter of this year. The company’s net loss was $5.56 million, compared to a net loss of $4.85 million for Q1 of this year.
The decrease in total revenues was due primarily to a “decrease
in revenues from Rolling Stone downloads
as compared with the first quarter of 2005″.
Additionally, cost of revenues increased due primarily to a “non-recurring charge relating to a
contract with a major carrier for premium deck placement and the straight-line amortization
of contract minimums for Rolling Stone and Beliefnet.”
The company is working with Napster to launch Napster ringtones in U.S. and Canada, and is also working with BeliefNet. It has also signed with Playboy and will launch its wireless initiatives later this year.
Full details in release here.

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