Bango Regulatory News (BGO)

19 Sep 2008 07:00



Bango plc

("Bango" or the "Company")

AGM Statement

Bango plc (AIM: BGO), the mobile web technology company, will hold its Annual General Meeting in London today, at which Ray Anderson, CEO, will make the following statement:

"I am pleased to report good progress in Bango's business.

"The mobile web is moving to widespread adoption. Apple's success with the iPhone, Nokia's internet focus, Google's mobile maps, Vodafone's flat data tariffs and promotion of Facebook and YouTube on mobile are encouraging use of the mobile web.

"Bango has established an important position, providing unique technology and the critical relationships with mobile operators to enable website owners to grow their business to exploit this new opportunity. We are seeing acceleration in the usage of Bango powered services, especially in the USA where WAP payment activity has grown fourfold between the first and second quarter of the half year ending September 30th 2008. 

"Our new product, Bango Analytics, which enables content providers to develop more effective marketing campaigns, has been extremely well received by the marketplace. Almost 1,000 people or businesses have registered to use Bango Analytics since our launch in February, and more than 300 of these have already started using Bango Analytics with live mobile sites. Our business model for this product is usage weighted, so while revenues linked to this product in the first half will be small, the signs for Analytics contributing to revenues for the second half of the year are encouraging.

"At an operational level our focus on web sales has achieved positive results, with a lowering of operational costs and increasing customer sign-ups at the low end, enabling our sales teams to focus on converting those customers with long term revenue potential. We are on track to achieve our goal of sustained profitability and positive cash-flow in the near term.

"We look forward to the presentation of our half year results on 25th November 2008." 

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About Bango

Bango delivers the technology that makes the mobile web simple. Bango created the world's first global exchange for the mobile web. By providing a common integration point for brands, businesses and individuals, Bango removes the complexities that make the mobile web difficult to exploit.

More businesses are now launching a mobile web presence so they can engage directly with their consumers anytime and from anywhere. Through a common integration point, Bango makes it easy for them to drive traffic to a mobile website, understand who the visitors are, track marketing campaigns and collect payment for digital content world-wide.

Bango is quoted on the London Stock Exchange (AIM:BGO). Learn more at www.bango.com