DUBLIN, June 7, 2010 /PRNewswire/ -- The GoAdv Group, one of Europe's fastest growing digital media companies (Source: GP Bullhound Media Momentum Awards, 2010) and Red Herring Europe 100 winner 2010, has today announced a delisting from France's stock exchange, the Alternext of NYSE Euronext (http://www.goadv.com).
GoAdv is experiencing phenomenal growth in the emerging content on demand sector which is fundamentally changing the way content is produced, distributed and monetised online. With the recent acquisition of Associated Content by Yahoo Inc and other consolidation activity, we believe the company will be better positioned for growth and other strategic opportunities as a private entity. Due to GoAdv's strong cash position, our delisting will allow us to pursue expansion opportunities while continuing to increase cost efficiencies in our business, said Luca Ascani, Chairman, GoAdv Group.
During the three years as an Alternext listed company, GoAdv has fast become European leader in the production, distribution and monetisation of content on demand, achieving significant milestones during the process. Since 2006, the company has grown the number of its unique monthly users by 150%, from 8 million to 20 million and its revenues by 320%, from EUR10 million to EUR42 million in 2009.
GoAdv now has a network of over 500 niche media properties including recognised brands such as Excite, Better Deals, Nanopublishing and Blogosfere. It produces content in 8 different languages supported by a staff of 140 employees worldwide.
By leveraging the Alternext listing for key fund raising activities, the company was able to finance its acquisition of the Excite Europe in 2007. As a result of both organic and external growth, the company has now become the European leader in the content on demand sector. This has been achieved through the company's unique technology platform that comprises of an extensive database of search terms and a proprietary algorithm that identifies the types of content that users search for and advertisers can monetise.
GoAdv's strategic plans for the coming year include both organic and external growth and to increase our online reach and market share of the online media sector. In particular, the growth of content production through an innovative crowdsourcing model with an emphasis on multi languages, quality and scalability will enable us to strengthen our market position, concludes Salvatore Esposito, CEO, GoAdv Group.
About GoAdv
The GoAdv Group is one of Europe's fastest growing digital media companies (GP Bullhound Media Momentum 2010) and winner of the 2010 Red Herring Europe 100. Created in 2004 the Group crowdsources, distributes and monetises over 15,000 items of compelling, multilingual content per month through a network of over 500 fully owned and operated niche websites including Excite Europe, Better Deals, Blogosfere and the Nanopublishing network. The media properties generate over 20 million unique monthly users (Source: Comscore Jan 2010).
GoAdv is a pan-European company and has a staff of over 140 working across offices in Italy, Ireland, and Asia. Active in the UK, Germany, Netherlands, France, Italy, Spain, Sweden, US, Australia, Russia and Brazil.
Contacts GoAdv: Amanda Lorenzani, Head of Media Relations lorenzani@goadv.com Herve Guyot, Investor Relations guyot@goadv.com
SOURCE: GoAdv
CONTACT: Contacts: GoAdv: Amanda Lorenzani, Head of Media Relations,lorenzani@goadv.com, +44(0)7900-255-970; Herve Guyot, Investor Relations,guyot@goadv.com
Comments