Crowd Mobile Launches Four New Apps
Revenues from the new apps will be shared between Crowd Mobile and the partners.
Crowd Mobile Limited (ASX:CM8) announced that it has signed four new partnerships and has expanded its array of Question and Answer apps in Australia.
The company signed a partnership agreement with an Australian law firm called the Go To Court Lawyers, an online and over the phone legal hotline service providers. The Go To Court Lawyers provide fast access to legal advice and have a network of more than 700 experienced lawyers. Following the launch of the app, users will be able to access advice from fully qualified solicitors for a fee of $9.95 per question. The users can also be referred to a lawyer in the Go To Court Lawyers network through the Q&A app.
Crowd Mobile’s Chief Executive Officer, Mr. Domenic Carosa commented on the agreement with Go To Court Lawyers: “The partnership with Go To Court Lawyers continues our expansion into the professional services space as move the Q&A division into higher value segments. Like the financial services industry Apps we announced previously, our move into the legal sector provides a significant revenue opportunity with no material capital costs.”
Crowd Mobile has also signed an agreement with the Australian soccer star Archie Thompson, which will allow users to ask Thompson questions regarding training and career advice.
The company has also expanded its range of lifestyle apps as it signed an agreement with Tenina Holder, for sharing specialist cooking tips, advice and insight. Moreover, the company has also signed a partnership agreement with Dineamic Australia Pty. Ltd, a Melbourne-based prepared meal solutions business. Dineamic will provide professional nutrition advice.
Revenues from the new apps will be shared between Crowd Mobile and the partners. The underlying technology of the apps will be owned by the company.
CM8 has risen 2.5% since the announcement, and was last traded at $0.205 (as at 10:30 am (AEST)).
Author: Kaivalya Kandarpa
May 17, 2016
Kaivalya is an equity analyst and a client advisor at Wise-owl. She specialises in fundamental and technical analysis for large and mid-cap companies. Having completed her bachelor's degree in Business Administration majoring in Finance, Kaivalya has a comprehensive understanding of international stock market movements. She tracks local and overseas markets and compiles analytical reports for various industries.