LONDON (Alliance News) - Taptica International Ltd Monday said it has continued expanding its presence in the Asia-Pacific region by establishing a new office in Seoul, South Korea, in order to capitalise on a market which the company believes will be worth over USD2.00 billion later this year.
Taptica is an end-to-end mobile advertising platform used by advertising agencies and brands to boost the amount of mobile application users to maximise their return on investment and recently established an office in Beijing, China, to take advantage of the largest digital retail market in the region.
Taptica is present in over 15 countries and has over 50,000 partners and more than 450 customers including Fortune 500 companies and some major firms such as Disney, Starbucks and Sony.
Taptica has now established a new office in Seoul to move into South Korea, which is the third largest digital retail market in the region behind Japan. The office is in a key business area within the Gangnam district that also homes a hub of internet-related firms such as Google and Facebook.
The company already works with the largest advertising agencies within South Korea and said it will now be able to target companies directly after establishing the new office.
Taptica has appointed Hoon Lee to head up the South Korean operations as the general manager, brining over 16 years of experience within the industry including his ten-years worth of experience working as the head of search sales operations within the Asia Pacific region for multinational technology company Yahoo.
Taptica said independent market research company eMarketer has forecast that spending on mobile internet ads within South Korea will rise by 30% this year to a total market value of USD2.08 billion.
Last month, the company said it expects its 2016 full year earnings to be "materially ahead" of market expectations due to the continued improvements to its margins and has forecast a 45% year-on-year rise in revenue from the USD75.8 million generated in 2015 - suggest the revenue target this year stands at USD94.8 million.
Taptica shares were untraded Monday morning. They last closed at 78.00 pence.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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