Vancouver, British Columbia, December 14, 2012 VoodooVox Inc VVX is one of the latest new listings on the Canadian National Stock Exchange. The company has also listed its 12% convertible debentures. Both securities were previously listed on the Toronto Stock Exchange.
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At the end of 2011, the company changed its business model from a project-based solutions company to a managed service Mobile Advertising Network. This move was accelerated by the acquisition of UpSnap Services at the end of 2011, and VoodooVox at the beginning of 2012, with the company taking the VoodoxVox name. Through these acquisitions, the company acquired key assets needed to support the new business model, which is to provide mobile advertising and analytics managed services, via its cloud-based platform.
By using the company's plug-in API's, its Publishers and Advertising Aggregator customers are able to support the many-to-many connections needed between these 2 contingents. By applying the company's Analytics to the mobile advertising process, their customers can better target their ads in order to optimize mobile advertising yield. This new service is receiving a positive response in the market, resulting in 10 new contracts in 2012.
The company stated that revenues from the prior "project-based" business model had been growing slowly due to the nature of the business model, which involved long sales and implementation cycles, whereas the Mobile Ad Network revenues have grown more rapidly, over 200% in 2012 versus 2011.
VoodooVox, which represents the combined assets and knowledge base of 3 companies, the original Call Genie, along with UpSnap Services and VoodooVox, now processes billions of advertising transactions for a marquee list of global clients and partners. Its solutions are now deployed in 11 countries around the world.
"The company's retooling to a more flexible managed services business model is intended to allow it to capitalize on its expertise in mobile advertising and more directly expose it to this growing market" stated Michael Durance, CEO of VoodooVox. "Further, we are pleased with our recent series of funding, the significant decrease in our operational expenses, and the clarity that comes from our migration to the CNSX."
For more information, please visit the company's website at www.voodoovox.com, call Alex Blodgett at 403-410-6875 or email alex.blodgett@voodoovox.com.
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