10:39:29 EDT Fri 12 Jul 2024
Enter Symbol
or Name

Fundamental Applications Corp
Symbol FUN
Shares Issued 23,666,119
Close 2016-06-02 C$ 0.215
Market Cap C$ 5,088,216
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Fundamental launches in-app ads on Foro app

2016-06-02 07:00 ET - News Release

Mr. Bradley Moore reports


Fundamental Applications Corp. has launched in-app ads on its revolutionary Foro Student Marketplace app by Foro Technologies Inc., the company's wholly owned subsidiary.

Foro Technologies has integrated third party ad network software development kits in both versions of its Foro Student Marketplace app to generate revenue from in-app ads. The move toward monetization is two months earlier than planned and is due to the rapid growth of the Foro user base, which now has over 40,000 registered university users and 10,000 products listed for sale. With the Foro app being used in multiple countries, the company has selected Facebook's Audience Network and Admob to serve ads to its users.

"Based on our ongoing results, we believe the time to start monetizing our user base in select regions has arrived. With our recent No. 2 ranking in Lifestyle and No. 18 overall in India, we see a great opportunity to accelerate our monetization strategy," explained Fundamental chief executive officer Brad Moore. "The huge Indian market of 950 million smart phone users is one of the top three mobile advertising markets worldwide. In selecting Facebook's Audience Network as the agency of choice, we based our decision on our ongoing success using Facebook ads for our own app downloads. The Foro user install base is highly sought after by advertisers willing to pay a premium."

The Foro Student Marketplace app is leading a revolution in localized buying and selling behaviour on campuses. The Foro app provides users with a fun, easy and safe experience to turn things they don't need or want into cash. With the Foro Student Marketplace app users can transact business with trusted individuals, many of whom they may know personally as classmates or through social media, all located at the same campus.

We seek Safe Harbor.

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