naoo reports success in financing round
11.09.2024Already subscriptions and commitments in the seven-figure CHF range
Financing round (Series A) in the mid-single-digit million CHF range to be finalized in the coming weeks
As a social media platform, naoo offers unique user incentivization, user activation and the combination of digital interaction with local offers
naoo user base continues to grow strongly, successful campaigns for well-known customers
Launch of a comprehensive business solution is imminent
IPO expected before the end of the year
Zug/ Zurich, September 11, 2024 - naoo, the new, unique social media platform, reports on the successful progress of its current financing round. naoo has already been able to generate additional equity in the seven-digit CHF range. Institutional investors and HNIs have already acquired shares or made binding subscription commitments in the corresponding amount as part of the capital increase. Overall, naoo is aiming for a target volume in the mid-single-digit million CHF range with the financing round, which is expected to be completed in the coming weeks. The Series A financing is based on a valuation for the social media company in the upper double-digit million CHF range. naoo's current investors already include renowned Swiss business personalities.
With the additional funds, naoo plans to further expand its social media platform, which is characterized by high user activity, valuable content and detailed, personalized profiles. Through a unique reward system - which rewards users for high-quality content and interactions regardless of their reach - as well as innovative gamification elements, naoo offers its users real added value. This is supported by state-of-the-art AI technologies that provide users with targeted, suitable content.
A decisive advantage for corporate customers: The gamification elements on naoo make it much easier for companies to gain followers for their business messages. The interactivity and reward system ensure that users are more engaged with the companies' content and are motivated to follow the company profiles through immediate incentives. This offers a significant competitive advantage compared to other social media channels, where it is often more difficult to gain followers organically.
The naoo platform also links social media with bricks-and-mortar retail and local service offerings. Corporate clients benefit from powerful campaigns that increase sales of their products and services through direct user incentives and gamification - both online and at the point of sale. This approach has already been successfully implemented for well-known clients such as El Tony Mate, EUROBUS, Europa Park and Swype.
naoo's user growth continues to develop positively. Although the platform was previously mainly focused on Swiss metropolitan areas, the number of users has increased by 50 % to over 75,000 in the last six months. The volume of advertising displayed has increased by around 300% within a year.
naoo is currently about to launch a new technology solution that will enable companies to develop, manage and analyze their campaigns on naoo simply and effectively. This solution is aimed at small and medium-sized companies as well as large corporations. In the short term, naoo is also planning to expand into Germany, and an IPO on a German stock exchange is planned for this year.
Dr. Thomas Wolfensberger, founder and majority shareholder of naoo AG, explains: "Our financing round is an important milestone in securing naoo's growth. The results so far are extremely positive and the great interest in our platform confirms our strategy. We are proud to have already received significant investment and look forward to further expanding naoo and establishing our platform as a unique link between digital communities and local offerings. Work on the IPO is also well advanced and we are on track."
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
