Mobile payments platform operator
Launched consumer data marketplace in December 2018
2018 cash expected to take firm to profitability
Agreed a partnerhsip with Appscatter to target 'golden buyers' of apps
What Bango does
The firm works with tech giants such as Google, Amazon, and Microsoft to help them process payments from their mobile customers across their app stores.
Bango also offers insights derived from the data it processes from transactions, allowing businesses to have more visibility on their customers and markets.
What it owns
Bango has two main strands to its business, a payments platform and the Bango Marketplace.
The mobile payments platform allows mobile app store customers to click and buy apps or in-app content and placing the charge on their mobile phone bill.
The company’s app store partners include the Google Play Store, the Amazon Appstore, GALAXY Apps from Samsung, and the Windows 10 and Windows Phone Store from Microsoft.
Bango Marketplace, meanwhile, allows mobile app developers to direct their marketing towards target customers by purchasing data segments gathered through the company’s payment platform.
How is it doing
Bango saw end user spend (EUS) on its platform more than double in 2018.
EUS in 2018 rose to £558.2mln from £271.4mln in 2017 and the company is expecting EUS to more than double again in the current year.
Revenue in 2018 increased 60% to £6.62mln from £4.15mln the year before.
The group posted positive underlying earnings (EBITDA) in the fourth quarter, contributing to a reduction in the full-year loss before interest, tax, depreciation and amortisation (LBITDA) to £870,000 from £1.57mln in 2017.
Management expected the company to generate sufficient cash this year to cover both the operational costs of the business and the continued investment in product development.
Agreement with Appscatter
The two groups said the partnership will grow in-app revenues for appScatter's global community of app developers, helping them substantially boost their revenue by targeting marketing campaigns at users most likely to spend.
They pointed out that, on average, 5% of mobile users deliver over 80% of revenue (AppsFlyer 2018, Statista 2018, AppBoy 2018), and Bango delivers these 'golden users' to app developers.
By applying Bango audiences, which protect user privacy and ensure user consent, the revenue generated from marketing campaigns has been proven to increase by more than 2x, the companies said.
What the boss says: Ray Anderson, CEO
"We are excited that appScatter's high quality network of app developers can join Bango Marketplace.
“Thousands of app developers with a track record of success can now browse and order Bango audiences online, to significantly optimize the monetization of their apps."