Digital advertiser Netccentric raises $12.5m and floats on ASX

Asia-based company, which offers platforms that help brands advertise and tap into social media influencers and bloggers, plans to expand its Australian footprint

Digital media technology company, Netccentric, will look to expand its social media influencer advertising platform locally after raising $12.5 million in an IPO and listing on the Australian Stock Exchange.

The nine-year old, Singapore-based company listed on the ASX today after exceeding initial IPO capital targets by $5 million, raising $0.20 per share and utilising a $2.5 million oversubscription facility.

Netccentric has six subsidiary businesses, including three marketplaces aimed at connecting advertisers with bloggers and social media influencers. Among its digital media companies are mobile blogging platform, Dayre, along with Churp Churp, a service that matches its 230,000 social media influencers with prospective advertisers.

The group’s core product, NuffNang, is a blog advertising community that offers brands a platform to interact with online bloggers. The company has two offices in Australia in Melbourne and Sydney and claims more than 950,000 bloggers.

Read more: How to engage in influencer marketing

The other business units are Reelity.TV, which produces online video content for advertisers to distribute through social networks; Sashmi, a social media agency; and Ripplewerkz, a media production company.

According to a statement, the company now boasts of 180 employees across Asia-Pacific and the UK, and chalked up a 25 per cent increase in annual revenue to $11.1 million in the 2014 financial year. The company also claims to have increased revenues by an average of 20 per cent each year.

“Today marks and important day for the company and listing on the ASX positions us well for our next phase of growth,” said Netccentric’s CEO, Cheo Ming Shen.

“We have a focused strategy and are well-funded to deliver growth internationally across our client base in both existing markets and new markets.”

According to local chairman, Martyn Thomas, the funds will see expansion of its existing NuffNang blog marketing network, as well as a number of plans for Australia ramp up. This includes launching its social media influencer advertising network, Churp Churp, towards the end of this year, as well as a new Sydney office launch supported by a half-day conference for top bloggers in July.

Thomas said it will also launch its mobile blogging platform, Dayre, to its community, as well as put more emphasis on using bloggers to produce video content for clients.

More widely, Netccentric's overarching growth strategy is to organically grow the size and number of advertisers, geographically expand into new markets, and implement a mobile device growth strategy.

A number of noted Asian investors invested, including one of Malaysia’s wealthiest businessman and chairman of property and financial group TA Enterprise, Tiah Thee Kian; CEO of Asian snackfood giant Mamee-Double Decker, Pang Tee Chew; and president of Taiwanese media company Want Want China Times Group, Kevin Shao-Chung Tsai.

Read more: Why integrated social suites are failing marketers

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the newsletter!

Error: Please check your email address.
Show Comments

Blog Posts

To DMP or not to DMP?

There are plenty of brands that can benefit from plugging into a data management platform. But should you engage an agency to run one or bring it in-house?

Ben Willee and Richard Taylor

Spinach Advertising

Innovations in retail will bring creative and technology closer than ever

While approaching a customer in a shop and asking what you can help them with is Retail 101, how many of us actually enjoy being approached? Generally, you have to give the forced, fake smile and say, “Just browsing, thanks,” while screaming on the inside, “just leave me alone!” Maybe it’s just me?

Jason Dooris

CEO and founder, Atomic 212

There’s a brand in my digital soup

Not a day passes by in the life of business executives where digital innovation or the prospect of disruption is not front of mind. This in turn, drives an unrelenting flow of questioning, discussion and strategy papers.

Jean-Luc Ambrosi

Author, marketer

I need to be reborn before i can grow up & become a contestent.

Kaye Peterkin

Channel Nine's content now streamed digitally on 9Now

Read more

I hope The Block, will continue for many many more seasons.When i die, & grow up, I want yo come back as a contestent.

Kaye Peterkin

Channel Nine's content now streamed digitally on 9Now

Read more

Sounds a bit confusing, but also like there're quite a few benefits. So, it's a good idea to link it with crm and marketing automation? D...

Kirsten

To DMP or not to DMP? - Marketing automation - CMO Australia

Read more

cc

Marjorie Campbell

Talk to me, Facebook! Social net buys speech recognition company

Read more

This would have the be the worst company to ever use. They never get back to you, they over promise and under deliver and when you questi...

Samantha Colbert

Aussie entrepreneur Nick Bell sells WME Group to Melbourne IT

Read more

Latest Podcast

More podcasts

Sign in