UpSnap, a provider of targeted mobile advertising solutions, recently announced its first quarter financial results for 2015. Total revenue for the quarter grew by 33.1% to $1.39m from $1.04m the year over. UpSnap cites high quality services with over 70% retention rate and an overall increase in subscribers as one of the main reasons for the growth. In addition, the company managed labour and sales cost by leveraging its reseller networks’ sales force to add to the growth of its number of subscribers.
UpSnap offers mobile advertising solutions through precision targeting
Meanwhile, UpSnap’s mobile advertising revenue grew by 66.5% to $1.18m compared to $0.71m the year before. The company’s mobile advertising model focuses on establishing lasting relationships with marketers and is also available on a subscription basis for businesses. It further provides software to allow companies to run their own advertising exchanges.
Bruce Howard, CEO of UpSnap, said:
“We are delighted to report another quarter of strong revenue growth, while managing our operating expenses. Our focus continues to be on growing our top line mobile advertising revenue aggressively while expanding our existing and high retention subscriber base that provides the Company with predictable recurring revenues. Also, we continue to work on advancing our technology to offer our clients superior value and excellent results. We strongly believe that we have tapped into an underserved market by catering to small and medium size businesses. As a result, our focus for 2015 is to continue expanding into this market, while continuing to leverage our growing reseller networks.”
In addition to its successful financial performance, UpSnap announced that Lance Brown would join the company as VP of product and technology. Brown joins from User Friendly Media and will be overseeing the product strategy as well as tech infrastructure to support businesses in using UpSnap’s Mobile Banner Advertising platform and network.