Kuuhubb Inc. Reports Strong Quarter Performance
January 15, 2018
– January 15, 2018 - Kuuhubb Inc. (“Kuuhubb” or the “Company”) (TSX-V: KUU), a technology company focused on acquiring, developing and distributing mobile video game applications, is pleased to provide an update on recent financial performance. References below to "US$" are to United States dollars. The Company’s consolidated financial statements (and related management’s discussion and analysis) for the quarter ended December 31, 2017 are targeted to be published on or before February 28, 2018.
Significant Revenue Growth and User Base Expansion:
- Preliminary unaudited results indicate gross revenue of approximately US$6.2 million during the three months ended December 31, 2017.
- Quarter over quarter gross revenue increased by 117%.
- Monthly Active Users (“MAU”) reaching over 7 million MAU in December 2017.
“I am very proud of what our team has achieved in a very short period. We are executing on the planned growth drivers with excellent results. While we are still in early stage, the results from our geographical expansion, improving the social and monetization features and focusing on efficient, data-driven operations are starting to show. Kuuhubb has built a highly scalable platform to acquire, integrate and grow undervalued assets across the globe and we will continue to execute this strategy in 2018 by expanding it both organically and through acquisitions,” stated Jouni Keränen, Chief Executive Officer of Kuuhubb.
- In November 2017, the Company announced that it had signed a term sheet to acquire Neybers, an interior design game where users can play with photo quality items from real brands. The acquisition of Neybers was completed near the end of November 2017. Neybers fits well with Kuuhubb’s strategy of building a portfolio of female oriented niche lifestyle community and design applications. Neybers has a strong focus on esthetics and female user base with a 22 minute play session average – attributes that dovetail well with Kuuhubb’s flagship app Recolor.
- In November 2017, Kuuhubb implemented rewarding videos in Recolor to be able to monetize Recolor´s non-paying user base. "The initial results are showing that Recolor users have adapted video advertisement well and we have seen a steady growth in video advertising revenues," stated Pasi Piipponen, Chief Operating Officer of Kuuhubb.
- In December 2017, Kuuhubb entered the Japanese gaming market, by hiring a team of seasoned management, business and product development professionals in the Japanese gaming community. Japan’s growing mobile gaming market represents a great opportunity for Kuuhubb, especially in the lifestyle genre apps targeting the female audience. Kuuhubb’s flagship app Recolor is the world’s number one digital coloring book application.