Alipay payment solution in place - first milestone reached
The first milestone in the cooperation agreement between Appspotr and Novel Unicorn has been reached on schedule. That means that all the payment solutions are in place, which is prerequisite for reaching the sales targets specified in the agreement with Novel Unicorn.
The first milestone in the agreement with Novel Unicorn was to reach a deal with at least one of two specified payment solutions providers. One of those specified was Alibaba and its payment solution Alipay, where a deal now has been reached. Alipay is one of China’s leading providers of mobile payment solutions and with close to 520 million users. The board thereby deems the first milestone reached and thus follows that subscription warrants, that if fully utilized corresponds to 3.55 percent of the share capital in Appspotr AB, are transferred to Novel Unicorn. At same time, Appspotr’s ownership in Appspotr Asia increases from 30 to 39.5 percent.
Comment from Patric Bottne, CEO of Appspotr:
“It is very pleasing to have a Chinese payment solution in place and it is a prerequisite for being able to receive payments for our service in China. The deal gives Appspotr access to Alipay’s technology and solutions for payments and makes it possible to offer a very large market recognized and well proven payment solution. Our focus is now mainly on developing our talks with different players into real business to reach the sales targets that we together with Novel Unicorn have set. We’re looking forward to the spring with great confidence and optimism.”
Patric Bottne, CEO, Appspotr AB
Phone: +46 701 46 61 89
About Appspotr AB
Appspotr makes it easy for individuals and businesses to create native apps online, without pre-programming skills. The user builds the app using pre-programmed modules, custom design and content, and then publishes it in any app store. At the same time, Appspotr offer developers an opportunity to earn money from creating the modules used. Appspotr has 12 employees and is based in Gothenburg.
About Appspotr Asia
Appspotr Asia is a subsidiary jointly owned by Appspotr AB (30%) and Novel Unicorn (70%). See the press release on the Chinese joint venture from 29 May 2017 for more information.