SinglePoint Experiencing Further Growth in Mobile Technology Markets Through an Acquisition Strategy
by Callan Smith
Phoenix, AZ – (UPTICK Newswire – Nov. 11, 2015) – Recently an article at Techcrunch noted that there are 2.6 billion Smartphone subscriptions globally. It was also indicated that by “2020, globally there will be 6.1 smartphone users led by huge growth in less mature markets.” With the astounding transition to mobile platforms and the promise for more, it comes as no surprise that SinglePoint (OTC Pink: SING) is growing their full-service mobile technology and marketing company through an acquisition strategy taking them further into the mobile marketplace.
Take SING’s planned acquisition of Text2Bid the leading provider of mobile auction technology. It makes for a perfect fit into their mobile service structure. SING noted in September that “The auction industry is an $18 Billion dollar industry, currently underserved in the SaaS market. SinglePoint is gearing to change that with the implementation of Text2Bid and Pay by Text™ technologies. As previously released, Ken Kleve, President and COO of Maestro Software states, “Text2Bid has changed the landscape of auction fundraising and continues to grow exponentially year over year. We are thrilled with the potential of this acquisition. SinglePoint’s technology and development expertise will allow us to take Text2Bid to the next level.”
Adding Text2Bid into SING’s suite of mobile products including Pay By Text an anytime, anywhere mobile payment service, and their mobile marketing text services makes for the promise of substantial growth for the company. Furthermore, SING released further acquisition news, regarding a material agreement with Darren Heitner’s Dynasty Dealings, “to identify fantasy sports gaming start-ups ripe for acquisition in an overall rollup acquisition strategy.” It is a lucrative money-making venture as seen in the success of companies such as DraftKings and FanDuel. CBS noted in July that the “number of people participating in fantasy sports is expected to hit 56.8 million this year, a gain of 37 percent from 2013, according to the Fantasy Sports Trade Association (FSTA).” CBS went on to report that “Eilers Research estimates that the daily fantasy sports market will hit $1.18 billion by 2020, indicating a compound annual growth rate of 55 percent.”
The addition of a fantasy sports acquisition looks to be another strong fit for the company. SinglePoint CEO Greg Lambrecht has stated, “This is a fantastic opportunity that complements our business model in a manner which is both unique and organic, in a space that has seen over $1b of venture capital funding since 2009. SinglePoint shareholders will now have the potential for investment in this exciting space.”
Overall, SING is a strong pick in the small-cap space. Being that it is a company committed to growth within the expanding mobilization technology market, showing consistency in their acquisition choices. Uptick staff will be eagerly watching SING’s developments and looking forward to more from the company, especially into the new year.
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