Social Reality (OTCQB: SCRI), an Internet marketing company specializing in digital advertising, recently effected a reverse stock split that – as of October 5, 2016 – has raised the per share trading price of its Class A common stock well above the minimum price (bid) requirement of $4 for uplisting to the NASDAQ exchange.
The one-for-five reverse split, effective September 20, facilitates the company’s plans to uplist shares of its common stock, the potential success of which company CEO Christopher Miglino called a “major milestone” expected to increase brand exposure to new investors and increase brand visibility.
Based in Los Angeles with offices in New York, Minneapolis, Milan and Mexico, Social Reality offers tools designed to automate the digital advertising market. The company’s platforms are structured to connect social and digital advertising to help brand advertisers, agencies and publishers get the best return for their investments, be it in terms of ticket purchase, ecommerce, reach and frequency, or other desired results.
Social Reality has deployed its platforms for some of the top brands in the country – including Proctor and Gamble (NYSE: PG) and Wells Fargo (NYSE: WFC) – as well as less recognizable brands opting for more community-focused campaigns.
Social Reality continues to improve its brand to maintain a competitive edge in the growing adtech (advertising technology) market, and in the second quarter of 2016 rolled-out new products, enhanced existing products, and reported a three-fold increase in the size of its sales team.
Though second-quarter 2016 revenues dipped year-over-year, the company reported first-half revenues of $14.7 million, in line with revenues in the same period of 2015. In its second-quarter earnings call, the company highlighted this performance as a catalyst for the uplisting process.
Miglino also reaffirmed the company’s previous guidance for full-year 2016 revenues of $40 million – 33% higher than revenue guidance for 2015 – driven by growth in new and existing revenue streams, as well as a larger sales team.
“We strongly believe that this is a great time to be in the digital advertising space and it’s still in infancy and already a multi-billion dollar market. We also believe that Social Reality is well positioned to capture a growing portion of this spending due to the current size of the programmatic space and social media markets as well as the expected continuation of rapid growth into digital media space,” Miglino stated (full transcript at www.seekingalpha.com).
For more information, visit the company’s website at www.socialreality.com
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