Bango appoints new CFO from Global Invacom
Current CFO Carolyn Rand is to step down after two and half years in the role
Company
LON:BGO
Bango PLC enables content providers to reach more paying customers through global partnerships. The company revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscriptions economy, powering choice and control for subscribers. The world's largest content providers, including Amazon, Google and Microsoft trust Bango technology to reach subscribers everywhere.
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Current CFO Carolyn Rand is to step down after two and half years in the role
This recurring revenue stream provides greater visibility and predictability to the company’s overall results, according to Liberum
Bango Marketplace is growing at a triple-digit rate
The broker said the company's key online payments and data monetisation products will benefit from a “rising consumer spend on digital content, and from merchants wanting to increase their share of this spend through targeted advertising”
The ecommerce specialist said the partnership will allow its merchants to quickly gain access to around 1.5bn people across the Middle East, Africa and Turkey thanks to TPAY's “massive footprint of carrier billing and wallet providers”
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Underlying profits jumped to more than £4mln from £450,000
The company said under the deal it will use its Bango Resale technology and partnerships to power DocuBay’s growth plans and increase its availability to more audiences around the world
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Microsoft will leverage the Bango Platform to enable telco partners to bundle Xbox Game Pass Ultimate and Xbox All Access in their subscription packages
"We welcome BT and BritBox to the Bango circle,” said Paul Larbey, Bango’s chief executive
Following recent new customer wins and record revenue growth in the first half of 2020, these new recruits will support the continued growth of commerce through the Bango Platform
Evergent and Bango share the same strategy for creating flexible, agile platforms that allow new services to be quickly launched
Under the agreement, EPIC ON will work with Bango to expand its global presence, growing its paying user base and opening up access to its wealth of content and services by offering customers alternative payment methods
The mobile commerce group also said end user spend in the first half was £743mln and “remains on track” to reach £2bn by the end of 2020
The new partners are in five different countries across the continent
"We see Bango as providing both the technical integration with the mobile operators and the technology to increase customer engagement "
The mobile commerce firm expects to report revenue growth of over 50% to £4.8mln year-on-year, while adjusted earnings are predicted to exceed the £450,000 figure for the whole of 2019
The deal means Bango now powers carrier billing for Amazon’s Japanese website across the country’s three largest mobile operators, SoftBank, NTT Docomo and KDDI
The mobile commerce firm said the operator, du, had seen a large percentage of customers re-engage with direct carrier billing, a one-click method of charging purchases to a user’s mobile phone bill