Yesterday, investors in the technology company Swarmio Media Holdings Inc (OTCMKTS:SWMIF) may have been quite optimistic after the company announced that it had got an initial investment commitment. The commitment is from the investment wing of Apelby Communications, which is a worldwide telecom services provider. The initial commitment is for a sum of $1 million.
On Thursday, SWMIF stock ended flat at $0.0850 with more than 9.50K shares, compared to volume of 330 shares. The stock moved within a range of $0.0850 – 0.0850 after opening trade at $0.0850.
Swarmio Media Announces an Initial Strategic Investment of USD $1 Million Convertible Note from Apelby Communications at a Cap Price of USD $30 Million Market Capitalization
Swarmio Media is currently looking to deploy its proprietary subscription based esports and gaming platform at a global level. Hence, any new investment is going to be crucial for the company and its future plans. The latest development is an interesting one and it now remains to be seen if it leads to any action in the Swarmio Media stock or not.
The Founder and Chairman of Apelby, Michael Kutzendorfer, spoke about the investment commitment as well. He noted that it was not only an investment but possibly the start of a mutual partnership that is going to be beneficial to both companies. Such a move is also going to help Apelby and many of its partners in the telecom space to get a foothold in the global gaming market that is worth as much as $200 billion.
Michal Kutzendorfer, Chairman and Founder of Apelby commented: “We view this as not just an investment, but as the beginning of a mutually beneficial partnership, which will allow Apelby and our telco partners to tap into the massive $200 billion global gaming market. More than a third of the global population is already online gaming but there is still a lot of growth to come as smart phones and internet connectivity continue to become more available. We’re grateful for this opportunity to provide extra value to our telco clients and their customers who love gaming.”