Don't forget this also5 Dec 2014 11:22
3 November 2014
cloudBuy plc
("cloudBuy" or the "Company")
Hong Kong contract signed increasing number of suppliers to approximately 8,500
Further to its announcement of 2 October 2014, cloudBuy (AIM: CBUY), the cloud eCommerce marketplace, announces that the three year contract in Hong Kong with a global Financial Institution (the "FI") to provide an FI branded eCommerce marketplace available via desktop, tablet and mobile app has now been signed. In its announcement of 2 October, the Company stated that the marketplace would be populated with the FI's existing Hong Kong merchant community comprising circa 3,000 B2B suppliers; this has now been increased to approximately 8,500 suppliers for the first phase implementation in Hong Kong prior to expansion to the rest of the Asia Pacific region
Ronald Duncan, Chairman of cloudBuy plc, commented: "The Company previously had four potential routes to reach its short term target of £50 million revenue pa; this contract in Hong Kong, plus the SYNISE deal together can deliver USD$150 - $200 million revenue per annum alone.
We have managed to step up our contract size to this new level and we have a number of similar sized opportunities in the pipeline.