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AppsVillage listed on ASX

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Tuesday, September 3rd, 2019

Source: Globes

AppsVillage last week raised A$5 million in its IPO on the Australian Securities Exchange (ASX) at a A$13.3 million (NIS 32 million) valuation. Demand for the offering was strong. The share price in the IPO was A$0.20. Following fluctuations in the share price in the subsequent days, it closed today at the same price as in the IPO.

AppsVillage, founded in 2015 in Israel, has developed a software as a service (SaaS) platform on the cloud that allows small and medium-sized businesses to launch and manage mobile phone apps as part of their business promotion. An Australian company founded in 2018 in effect acquired the Israeli company, and has now held its IPO. The company generates its revenue by selling licenses to use its platform at $19.99 for a one-month subscription or $14.99 per month for a one-year subscription. The company also charges commissions on purchases through the app and on social media advertising by its customers. According to AppsVillage’s prospectus, its revenue totaled $373,000 in 2018, compared with $78,000 in 2017. AppsVillage’s also posted a $1.5 million net loss in 2018, compared with a $555,000 loss in 2017. In a report published following the IPO, AppsVillage said that its revenue reached $631,000 in the first half of 2019. The company was recently added to a plan in which Facebook helps promising startups.

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