Revenue almost tripled to US$3.3 million
Historic high client budget managed at over US$15 million
Series B fundraising to be completed in the third quarter
HONG KONG, July 22, 2021 /PRNewswire/ — GoGoChart Technology Limited, an award-winning global mobile marketing and technology enabler who is Hong Kong’s first certified Apple Search Ads agency, today announces its first half fiscal year 2021 financial and business results ending June 30, 2021. The company’s robust 1H growth and performance will be followed by a series of active fundraising and expansion plans in the second half of 2021.
Financial and business highlights
283% YoY revenue growth to US$3.3 million (approx. HK$26 million)
371% YoY increase in gross profit to US$2.3 million (approx. HK$18 million)
75% increase in client numbers from June 2020 to June 2021
100% client retention rate from January 2020 to July 2021
Historic high in budget managed for clients with a total of more than US$15 million (approx. HK$117 million)
Expected completion of Series B fundraising within Q3, eyeing US$8 million to US$10 million
FinTech and consumer brand sectors accounted for 70% of revenue in 1H 2021, followed by 16% and 14% from e-commerce and gaming respectively.
Strong 1H performance followed by ambitious 2H plans
GoGoChart’s growth in 1H 2021 has been driven by the drastically increasing number of new accounts and client’s mounting spending in app store optimization (ASO) services and mobile marketing solutions, due to the shifts in consumer behaviors related to mobile usage and transactions. As of January 2021, active internet users worldwide reached 4.66 billion – 59.5% of the global population, among which 92.6% accessed the internet via mobile devices. Consumer spending on apps also hit a record of US$64.9 billion in the first half of 2021.
Daniel Lo, Founder and CEO of GoGoChart said: “We saw a fundamental reshaping of consumer behaviors and the necessity for digital transformation during the pandemic. Brands from wide ranging industries have been seeking innovative solutions for better brand exposure under this challenging time. ASO, being one of the key mobile marketing solutions that has helped thousands of brands gain stronger ‘discoverability’ and awareness, has become a heavily sought-after service from us.”
GoGoChart has kicked off the Series B round in 1H 2021, eyeing to raise US$8 million to US$10 million. This new round of fundraising is expected to be completed within Q3. Approximately 25% of the proceeds will be allocated to talent recruitment, 25% to R&D expansion, 22% as working capital, 20% for regional expansion, and the remaining funds on other expenditures such as marketing and promotion.
Riding on the momentum of 1H’s exceptional financial and business performance, GoGoChart estimates that its full fiscal year revenue will well exceed the initial target set at US$6 million to US$7 million by the end of 2021. The company also plans to open its technology, sales and marketing functions respectively in various locations across Greater China and Asia within the next 12 months.
“We are optimistic about our future growth and will dedicate our efforts to develop more compelling technological offerings and services,” added Daniel.
In addition, Apple Ads, previously known as Apple Search Ads (ASA) has become available in the mainland China market since June 23, 2021. For brands looking to expand in the APAC region, Apple Ad’s induction into China presents an incredible opportunity to engage and showcase their apps to the millions of iPhone users in Apple’s third-largest market, driving and maximizing user acquisition and downloads with one of the most advanced mobile marketing platforms on offer.
GoGoChart is the first Apple Search Ads certified agency in Hong Kong. With a vision to empower brands from a variety of industries to elevate their Apps to the top of the App Store, GoGoChart’s mission is to become the world’s best in mobile marketing technology. Since its establishment in 2016, GoGoChart represents the first of its kind as a business and tech provider in Hong Kong and has successfully promoted more than 2,000 Apps across the globe, spanning over 60 countries. Key clients of GoGoChart include Fortune 500 companies, blue chip listed companies and major financial institutions just to name a few.
GoGoChart is headquartered in Hong Kong and has additional regional teams situated in the Philippines and mainland China.
SOURCE GoGoChart Technology Limited