MrPatience11 May 2019 16:31
Fitbug wound up (not sure what all the hype was about! total flop of an idea surely?) and KIN then became a cash shell reviewing new opportunities. Akers reviewed a number of companies and finally reversed Bidstack in to it back in September 2018. All the historic KIN holders are long gone, most that wanted out sold in the first week of trading resuming (hence SP drop back then). Noone understood the offering here until news started landing and James Draper started doing interviews to explain the business... then its exploded ever since!
As for Management, all the important guys are new, CEO James Draper was director (and founder) of Bidstack when it as private same with Francesco Petruzzelli as Technonolgy officer they had nothing to do with KIN and legacy Fitbug.
The FD and Non-exec Donald Steward I think were in Fitbug, but as James Draper says they are about to appoint some more gaming heavyweights which may replace the old guard?
Also worth of note, Mike Hayes recently appointed to the Bidstack board. Mike is former president and CEO of SEGA Europe and SEGA of America.
"Mike has a wealth of experience in the video games industry having spent eight years at SEGA, latterly as CEO of SEGA Europe and America which had annual revenues in excess of £400 million and where he was responsible for over 1,000 employees, oversaw seven sales and marketing territory operations and five internal studios. During his time at SEGA he was responsible for the acquisitions of The Creative Assembly and Sports Interactive and implemented a major restructuring programme to maximise the company’s opportunity for digital growth. During his tenure, SEGA became established as a top 10 worldwide publisher of video games, including titles such as ‘Mario and Sonic at the Olympics’.
Prior to SEGA, Mike spent five years as Sales and Marketing Director on the Board of Codemasters, the award-winning British developer and publisher of high quality racing games, having started his career in video games at Nintendo. For over five years, Mike was Sales and Marketing Director at Nintendo, responsible for hardware and software. He oversaw the launch of famous brands including Mario, Zelda, Donkey Kong and Streetfighter as well as the launch of the Gameboy handheld device.
Mike is currently an Investment Director at AIM listed Mercia Technologies PLC where he is Head of Digital and Digital Entertainment.
Mike Hayes said, “I am delighted to be joining Bidstack’s Board. Having worked on some of the world’s most iconic brands including Sega, Nintendo, Trivial Pursuit and Bandai toys, more recently I have extended my experience to growth funding with new digital start-ups in the entertainment sector. I’m really looking forward to using my experience in creative and production, publishing services and managing global businesses to help grow Bidstack"
Hope this helps
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