A nice read from techinasia this is my favourite passage “We...

A nice read from techinasia this is my favourite passage
“We think a few hundred artists may take us firmly into profitability. A few thousand makes us a big business,” says Steven Goh, founder and CEO of mig33.

mig33 solidifies direction

The past year has been eventful for mig33. While primarily a communication platform for feature phone users, the company pivoted to focus more on smartphones and introduced new features like mini blogs. The service has grown to over three million monthly active users, and is going after emerging markets in Asia, Eastern Europe, Middle East, and Africa. Last October, its mini blog had 180,000 daily active users and saw four million messages sent daily. It is currently on a revenue share arrangement with artists, who get a cut whenever users buy a virtual item or play games. “We think a few hundred artists may take us firmly into profitability. A few thousand makes us a big business,” says Steven Goh, founder and CEO of mig33. The company has also embarked on a reverse takeover of mining firm Latin Gold in an effort to list on the Australian Stock Exchange. The process will most likely complete by May 2014. Once it is successful, the listing will give mig33 capital to make more acquisitions to boost its platform. “We are looking at other artist or media management assets,” says Goh, “gaming companies, e-commerce companies, and payments companies too.”

Read more: Mig33 acquires Alivenotdead, a site started by Rotten Tomatoes founders http://www.techinasia.com/mig33-acquires-alivenotdead-site-started-rotten-tomatoes-founders/