4 Mar 2014

Snakk Media has eye on Asia

7:38 am on 4 March 2014

Smartphone advertising company Snakk Media has plans to expand into Asia and says it could be talking to the market about the move as early as next month.

The company, which makes money by targeting adverts at smartphone and tablet users, posted its first quarterly profit on Monday, of $27,000.

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Revenue reached $2,258,989 - up 58 percent from the same three months last year - and the company has been ploughing that back into staff and operating systems in Australia and New Zealand, and into researching the Asian markets.

Snakk Media chief executive Mark Ryan said there was a lot of planning to do first.

"Asia really is a region of contrasts. There's a lot of difference in how the landscape is there between the countries," he said.

"They've all got amazing populations which I think will be receptive to what we do."

The company said in August it wanted to talk to the market in April about how it would enter the Asian markets, and that was still the plan, Mr Ryan said.

The company celebrated its first ever million-dollar month in December while working with a number of high-profile brands, including Mastercard, ESPN and Samsung, he said.

The company also dealt with an unprecedented volume of campaigns from October to December, with 90 percent of trade coming from Australia.