re: Ann: Additional information - mig33 socia... Yes, with you, Rex, I think it's number of users, growth potential, revenue trajectory that's important.
God knows what funds Zuckerberg secured for Facebook before its IPO, but he managed to raise US$16 BILLION on the float of the social network. Crikey ...count all those zeros!
That, I believe, was against 845 million active monthly users at the time.
And no actual revenue stream. Indeed, I don't think they've even now come up with the stratagem for monetising Facebook have they?
Yet Facebook currently stands with a market cap of US$131.41 billion.
Perhaps mig33's aspirations are not quite so lofty as to be compared with the mighty Facebook. But certainly Tencent Holdings, the successful Chinese outfit (market cap $120 billion), looks a fair corollary.
Mig33's platform is tailored for different emerging markets - across South East Asia, South Asia, Middle East and Africa - which represent a population of over 3.5 billion people, but uses similar elements to Tencent to monetise its network.
"...A significant attraction of the mig33 business model to Latin Gold was that, even in this early stage of commercialisation, income is being generated..."
I think it'll be fun to look forward to constant updates on the mig33 team's "broadening and polishing of the service offering and growing the user base" throughout 2014.
They seem to have made a reasonable start with no's of users and so on.
Good fortune to us all.
LAT Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
