(Alliance News) - Iconic Labs PLC said Friday it has re-launched LGBTI community platform Gay Star News via a soft launch.
The media and technology firm said news articles are now being published on the Gay Star News Facebook page and revenue is being generated via display advertising from the Facebook advertising network.
A formal re-launch of a redesigned website serving the lesbian, gay, bisexual, transgender and intersex community is planned in the near term, alongside a rebranding of the whole business which will be known as GSN, the company said.
Iconic Labs acquired Gay Star News for GBP33,000 in September to expand its proprietary targeted distribution channels. The platform generated over GBP500,000 in revenue last year, which Iconic Labs team believe they can improve significantly.
Chief Executive Officer, John Quinlan, said: "We have already successfully soft launched the platform and are generating revenue from the Facebook advertising. Revenue is expected to grow following the launch of GSN's redesigned website, and I look forward to updating shareholders as we progress."
Iconic Labs shares were up 9.0% in London at 0.079 pence each on Friday morning.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
Iconic Labs (ICON)