Major win for Kiwi voucher-software
NZAX-listed smartphone voucher company VMob has announced its long-awaited breakthrough in Asia, signing a three-year deal with Indonesia's largest telco, Telkom Indonesia.
VMob said the "major win" would see TelKom Indonesia use its cloud-based software to distribute electronic discount vouchers on behalf of retail partners.
Vouchers could be downloaded to Telkom Indonesia's 147 million mobile subscribers through 20,000 wi-fi hotspots located across Indonesia, with the revenue from its marketing partnerships helping to expand that network.
Telkom Indonesia planned to expand its wi-fi network to cover 100,000 schools by the end of the year and have between one and two million hotspots across the country within "one or two years" in locations such as hotels and shopping malls, VMob said in a statement.
"Targeted offers and promotions will be delivered using VMob's solution to all users who use these Telkom hotspots to access the Internet across Indonesia."
VMob has been chasing the deal with Telkom Indonesia since before it listed on the junior NZAX exchange in August. It indicated then it hoped to wrap up a deal in Indonesia by Christmas.
Earlier this month, VMob announced it had rung up an annual loss of $1.7 million on revenues of just $90,000 for the year to March, its first annual result as a listed company.
The 20-person company ended the financial year with a working-capital deficit of $180,000 but has since raised another $1.3m from shareholders. Releasing its results on June 13, chairman Phil Norman said the board was extremely confident in the company's future. VMob, previously called VoucherMob, won "best Hi-Tech start-up" at the 2011 Hi-Tech Awards.