Singapore based real-time sports social prediction platform, SportsHero, that commenced trading on the Australian Stock Exchange (ASX) on February 15, claims that it added 120,000 users, up from 80,000 users prior to Christmas.
Building on this strong performance, the company said that it will be increasing its advertising activities, including on Facebook, Twitter and Instagram and working with partners to build additional awareness of its app and brand. This includes brand awareness promotional videos and new channel partners.
At the point of listing, SportsHero had raised AU$3.2 million through the issue of 64 million shares issued at AU$0.05 per share.
SportsHero’s listing comes at a time when mobile penetration in Asia-Pacific and consumer demand and interest in sports are increasing. Research firm Statista expects 2.3 billion smartphone users worldwide in 2017, while the sports industry is making an impact on national economies, with the Chinese government reportedly targeting their domestic sports industry to exceed US$727 billion in value by 2025.
Through the SportsHero app, sports fans can engage, compete and interact with each other through daily, weekly and monthly competitions and win daily prizes. The app supports football (soccer), and is planning to roll out cricket, basketball and baseball in 2017. It enables users to monetize their sports prediction skills and become “Sports Heroes”. For a follower fee, SportsHero gives users access to validated prediction tips and revenue share with these top sports heroes.