Mobile community & content company valued at approximately £38 million
London, 25 April, 2006: Mobestar, the mobile community and content specialist, has today joined London’s Alternative Investment Market (AIM) with an introductory listing. Mobestar Holdings Plc’s trading symbol is MOBS.
On Admission to AIM, the company has 37,951,490 ordinary shares at an opening price of £1 per share in issue, leaving an approximate valuation for Mobestar at nearly £38 million.
Mobestar’s initial focus has been on the mobile dating market with the launch of mDate, its mobile dating experience based upon anonymous video calling between consenting members, in February 2006.
This solution is being marketed to a dating industry which in Europe alone is estimated to be worth €266 million this year.
Mobestar also owns and operates a dedicated mobile content production facility which produces video-based entertainment.
The mobile entertainment market as a whole is predicted to be worth approximately £30 billion by 2010.
Mobestar believes that with new handsets on the market, 3G networks available and consumer demand increasing for interactive, video-based entertainment, the market is primed for consumers to access rich content and interact with other mobile users using their phones.
“The AIM listing has brought a clear focus to Mobestar’s business growth. The resounding message today is that although video-based mobile dating and other mobile community services are still in their infancy, this mobile entertainment sector has almost boundless potential as more and more users are gaining 3G phones,” said Peter Richards, CEO of Mobestar. “We are delighted to be on the frontier of this exciting sector and our AIM listing only bolsters our drive.”
Mobestar’s strength to date is attributed to the company’s development of its flagship mobile community technology solution.
This solution is based on its Flexible Anonymous Communications Engine (FACE).
FACE is a mobile video calling solution enabling anonymous live video and voice calling in a secure environment, with myriad applications in dating, marketing and promotions, auctions, and for other mobile communities.
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Established in February 2004, Mobestar is a mobile entertainment company that has developed a unique range of video-based mobile technology and content solutions. These solutions enable network operators and brands to develop, deliver and market innovative entertainment services directly to mobile phone users over 2G and 3G networks. Mobestar’s services bring like-minded communities of mobile owners together by providing exciting new mobile entertainment.
Mobestar’s Flexible Anonymous Communications Engine (FACE) sits at the heart of its flagship mobile community platform and enables network operators, service providers and brands to offer their customers a new form of interactive mobile communication including anonymous live voice and video calling. mDate, Mobestar’s unique mobile video dating solution, is the first application to use FACE.
For further information please visit www.mobestar.com
Zuzanna Pasierbinska/Emily Farrell
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