Monstermob

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MonsterMob LTD was a UK mobile content company selling ringtones, wallpapers, games and full length tracks. Operating between 2000 and 2007 it was owned by MonsterMob Group PLC, which owned similar companies across the globe. The company was founded by Lancaster businessman Martin Higginson. Peter Armer was appointed as first chief financial officer (CFO) [1] succeeded by Lee Dudack. Chris Tomic was the company's first technical appointment and was responsible for the design and implementation of the firm's award-winning platform. Chris developed the technology to deliver PolyPhonic ringtones to mobiles ahead of other ringtone firms and took the company through the IPO process. MonsterMob Group PLC was floated on the Alternative Investment Market on the London Stock Exchange with an opening market capitalisation of £32m. The company's business was adversely affected by regulatory changes in the United Kingdom and in China, aimed at curbing abusive billing practices among vendors of third-party wireless content.[2] Founder Higginson was ousted in June 2006.[3] The company issued three profit warnings in 2006, and as a result its shares lost 90 percent of their value over that year. In August 2006, the company revealed that it was in buyout talks with an unnamed purchaser.[4]

In March 2007 Martin Higginson returned to the board as a director. He was brought back to the company after its new owners ousted the directors, including the former CEO and founder of Orange Plc, Hans Snook.[5]

Spanish internet firm LaNetro Zed announced the changes after completing buying up a majority 53% stake in the business and scuppering a rival takeover plan by Chinese mobile content group Linktone.

The agreement meants LaNetro Zed and Monstermob will together become the largest company in the Mobile Value-Added Services (MVAS) market in terms of revenue. The enlarged company is now operating in 31 countries around the world employing 1,200 staff.[5][6]

References

  1. ↑ Monstermob Group Share News
  2. ↑ Monstermob hit by new China rules, The Financial Times, July 10, 2006, accessed Oct. 30, 2006
  3. ↑ Ringtones pioneer Monstermob ousts founder, The Independent, June 14, 2006, accessed Oct. 30, 2006
  4. ↑ Monstermob confirms bid approach, The Financial Times, August 7, 2006; accessed Oct. 30, 2006
  5. ↑ 5.0 5.1 http://www.mobiletoday.co.uk/content/15793.asp?men=2&sub=6
  6. ↑ http://www.cellular-news.com/story/22224.php

External links

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