naoo plans to go public in fall 2024
03.06.2024Listing is part of naoo's dynamic growth strategy and is intended to open up further financing options
Social media platform with innovative features and unique content reward system plans further rollout and international expansion
Number of users has exceeded the 65,000 mark and continues to grow
Sales are expected to increase in line with user growth in the coming years.
develop, break-even planned for 2026
Financing round launched for next growth steps
Zug/ Zurich, June 03, 2024 - naoo, the new, unique social media platform, is planning to go public. In coordination with the major shareholder, the management is aiming for a listing of naoo AG on a German stock exchange from fall 2024, assuming a positive stock market environment. naoo has already begun the corresponding internal preparations. The planned listing is part of naoo's dynamic expansion strategy. The capital market forms a financing component in this strategy, and naoo also wants to further increase transparency and visibility through the stock market listing. naoo AG has mandated the going public advisor Iqoniko to support the planned listing.
naoo is a fast-growing social media platform that inspires users with a unique concept. Unlike other social media platforms, all users ("naooies") are rewarded for their contribution to the community. Valuable content and interaction are rewarded with so-called naoo points. Depending on availability, these naoo points can be exchanged for vouchers for goods or services or cash. In addition, naoo offers unusually extensive interaction options with detailed surveys and various gamification features - in addition to the standards that users are used to from other platforms. At the same time, naoo is constantly expanding the platform features and thus further increasing the attractiveness of the platform. In addition to the recently introduced new AI-based search functions and optimizations of the naoo feed, this includes a contact tool that is currently at an advanced stage of development. The high level of interaction, the respectful handling of user content and meaningful user profiles open up extensive potential for linking the naoo platform with local communities and tailored goods and services.
The attractive, innovative social media concept has been well received: The time spent per user is steadily increasing and has doubled in the last six months. At the same time, the number of users is also growing and has already exceeded the 65,000 mark - and the trend is still rising. In line with the expansion of user numbers and new platform features, naoo plans to multiply its revenue in the coming years and is aiming to break even by 2026.
In addition to the further expansion of the platform and the cooperation network, international expansion is another important growth driver for naoo. Already well established in its home market of Switzerland, the company plans to address the German market this year. Other European countries are to follow soon - in the medium term, naoo sees itself as a global platform. The current shareholder base is largely made up of well-known Swiss business personalities. The major shareholder and company founder is Dr. Thomas Wolfensberger, previously founder and long-standing CEO of the listed residential real estate group Peach Property AG and before that founder of a successful pan-European fintech.
Karl Fleetwood, COO and CFO of naoo AG: "The planned listing in Germany in the fall will be another milestone for naoo and is only logical in view of our competition. It goes hand in hand with our planned entry into the German market, the expansion of our unique platform and rapidly growing user numbers. Our presence on the stock exchange will underpin naoo's expansion path and represents added value for potential investors."
Dr. Thomas Wolfensberger, major shareholder and founder of naoo AG: "With naoo, we are taking social media to the next level. We reward content from all users, promote interaction with innovative features and will increasingly link local communities and offers with the platform. This approach makes naoo unique. The high growth rates in users, feed impressions and dwell time prove that the naoo concept is well received and opens up further growth potential for us."
About naoo AG
naoo AG develops and operates a Swiss social app that has all the key features of well-known social networks, but also offers unique additional functions. For example, naoo brings people together based on their interests and preferences ("making friends") and deepens existing relationships by comparing these interests between individual users ("staying friends"). With the naoo points system, naoo wants to thank its users for their commitment and let them share in the success of the platform. naoo awards points for everyday actions in the app such as posts, likes, follows, inviting friends or answering questions. Your business customers can publish offers on the platform that are tailored to the individual needs of users and motivate them to come to their business locations by awarding naoo points. Depending on the availability of corresponding vouchers, naoo points can be exchanged for cash, among other things. Central to this is the idea that naoo users are always rewarded for their attention and engagement on the platform. naoo is based in the city of Zug in Switzerland and employs a team of twelve people. The naoo app is available in the App Store for IOS or in the Play Store as an Android version.
naoo AG is based at Baarerstrasse 21 in Zug, Switzerland.
Further information can be found at www.naoo.com
Contact:
Media and investors
Karl Fleetwood, Chief Operating Officer, karl.fleetwood@naoo.com
Axel Mühlhaus/ Jessica Pommer
edicto GmbH
Eschersheimer Landstr. 42
60322 Frankfurt a.M.
Tel: +49 (0) 69 905505-52
e-mail naoo@edicto.de
Users and users
Benjamin Duthaler, Head of Community Management, benjamin.duthaler@naoo.com
