It’s Official – BUD.ASX
Today, Buddy began trading on the Australian Securities Exchange under the ticker symbol BUD. There’s no question that we’re in an enviable place as 2015 ends and 2016 begins. We’ve built a product that meets the needs of a wide range of customers, in a space that is absolutely “white-hot.” And with today’s ASX listing, we’re now resourced to execute on our next phase of growth, or as I like to describe it, “we’re here to pour gas on the fire.”
The listing follows a successful public offer of shares that raised AUS$12.5 million at AUS$0.10 per share, and a further AUS$2.6 million in options exercised at AUS$0.20 per share. I’ve been asked many times the reasoning behind listing on the ASX. This path enables us to raise more money at a better valuation than other avenues, and should we need to, allows us to raise more capital more affordably. We are going to use the funds from this capital raise to expand our global presence and to invest in innovating and scaling our IoT platform to accommodate even greater volumes of data.
It’s an exciting time for Buddy. We are right at the start of a massive transformation for connected devices and the Internet as a whole. We consider this to be the third wave of the commercial Internet (fixed PCs and mobile devices being the first and second waves), and it is sure to eclipse the size and opportunity of the previous two waves – combined! The sheer volume and business value of the data to be generated from connected devices will make it imperative for any organization to have reliable, scalable and secure systems like Buddy in place to move this data from devices to existing business software, other devices or big data systems. With our capabilities to turn raw data into a valuable resource, we are enabling a Quantified Economy in a worldwide IoT market forecast to grow to US$1.3 trillion in 2019.
Supporting our vision for growth are the highly reputable members of our board and our advisors, including Board Chairman Rick Borenstein, John Ellis, Parag Garg, Alex Gounares, Ananda Kathiravelu, Charlie Kindel and Jessica Michaels. I am delighted to add that we continue a close relationship with Microsoft Ventures, for whom Buddy was its first investment.
It’s been a great road to BUD.ASX, and we look forward to good things ahead for our company, our investors and our customers.
David McLauchlan, CEO, Buddy Platform
Press release: Buddy Lists on the Australian Securities Exchange