PopReach Corporation (“PopReach” or the “Company”), a growing acquirer of mobile gaming properties, is pleased to report that it commenced trading today on the TSX Venture Exchange as a Tier 1 Issuer.
PopReach is a free-to-play mobile game publisher focused on acquiring and optimizing proven game franchises. With 12 franchises and over 120 employees between their Toronto, Vancouver and Bangalore offices, PopReach drives growth through a combination of investment in existing franchises and new acquisitions.
“We are very pleased to be listed on the TSX Venture Exchange. This milestone provides us increased access to capital which will drive our growth strategy,” said Jon Walsh, Co-Founder and CEO of PopReach. “We are a different kind of mobile gaming company. We don’t try to build new hit games; our organic growth is driven by investing in proven franchises and focusing on user optimization and retention and operating cost reductions. We minimize risk through a disciplined approach to identifying and executing acquisitions coupled with maintaining a diverse portfolio,” added Mr. Walsh.
PopReach is well positioned in the $90B mobile gaming market1, which is expected to grow at compound annual growth rate of 14% between 2020 and 20252. Mobile games account for 33% of all mobile app downloads and 74% of in app spending3. There are over 200 million mobile gamers in the United States alone4.
“The franchises we acquire already have established market fit, and existing user bases which we can leverage. As the mobile market continues to mature and expand, the number of aged games grow, so we see a continuous pipeline of acquisition opportunities,” explained Mr. Walsh.
PopReach, an early stage company, generated Revenue of approximately US$18MM in 2019 and is cash flow positive5. Its portfolio of 12 game franchises, distributed through the Apple App Store, Google Play, Amazon Appstore and Facebook Canvas digital platforms, are played by more than 1.2 million monthly active users. In 2020, the Company is targeting meaningful top and bottom-line growth through a combination of ongoing cost reductions and game optimizations, which aim to increase player lifetime value.
The Company founders bring decades of entrepreneurship and industry experience to the table, collectively responsible for producing dozens of free-to-play games and building analytics technologies that have been included in hundreds of millions of downloaded mobile games. Jon Walsh, CEO, has worked with numerous game publishers, studio founders and executives during his time at both Upsight and Fuse Powered, where he also published several #1 ranking mobile games. Christopher Locke, President and COO, built and directed teams responsible for industry defining free-to-play mobile games, including Smurfs’ Village and Kim Kardashian: Hollywood, which have generated hundreds of millions of dollars in revenue. Locke was also the founder and CEO of Blammo Games, which was acquired by Glu Mobile (NASDAQ: GLUU), where he later served as Senior Vice President.
“Our executive team is comprised of industry veterans with an unparalleled track record of success, and our teams in Toronto and Bangalore are world class. PopReach is uniquely well positioned to capitalize on industry trends, and intends to create significant value for all of its stakeholders,” added Mr. Locke.