Bambuser Announces New Go-to-Market Strategy
During the past six weeks, Bambuser’s new management team has implemented further cost reductions and presented a new, more focused, go-to-market strategy, which has been approved by the Board of Directors.
Starting after a challenging period with less sales than expected, the new management team headed by interim CEO Maryam Ghahremani has put forward a number of strategic changes for Bambuser. In addition to the staff cuts announced in February 2018, an additional four employees have been given notice in order to reduce costs. The Company’s resources will focus on generating revenue through product development and data-driven marketing.
The Board is backing the decisions to carry out a number of changes to Bambuser’s go-to-market strategy, including the following:
- Continuously developing Bambuser’s core product, an easy-to-use platform for live video streaming end-to-end
- Increase the investment on digital/partner sales
- Re-brand the Company’s products under the brand name Bambuser
- Clarify the brand, product offering and pricing with a “re-launch” during Q3 2018
- Focus the product offering towards developers / tech communities and media
“In a short time, Maryam has done an excellent job engaging both the management and rest of the staff in developing a strongly improved strategy to move the Company forward. While it is too early to give any financial outlook, we can see that the company's new focus has gained positive response among customers”, says Ingrid Bojner, Chairman of the Board of Bambuser.
This is information that Bambuser AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was sent for publication, through the agency of the contact persons set out below, on April 24 2018, 08:00 CEST.
For further information, please contact:
Maryam Ghahremani, interim CEO
Mobile: +46 (0) 708 72 02 66
Ingrid Bojner, Chairman of the Board
Mobile: +46 (0) 705 696 490
Västra Hamnen Corporate Finance is Certified Advisor (CA) to Bambuser AB (publ).
Bambuser is a Swedish software company that offers B2B solutions for live video. Since 2007, the Company has developed a platform for interactive live video broadcasts enabling live video streaming from mobile phones and web cams to the Internet. The breakthrough occurred in 2010, when the Company's service was used to report the unrest in Egypt during the parliamentary elections. The following year, videos were produced via Bambuser and used in several television broadcasts throughout the world during the Arab Spring. Today, Bambuser’s service is installed in more than 50 million phones and has over the years reached 100s of millions of news consumers through companies like CNN, BBC, Al Jazeera, SkyNews, etc. Since 2014, Bambuser has chosen to focus on B2B, Business-to-Business, to increase the spread of the company's products and strengthen its long-term revenue potential. Among the customers are companies as Associated Press, Aftonbladet, Schibsted, NRK and Vinculums. Bambuser is listed on Nasdaq First North.