Since appointing new management in early
February of this year, SPYR, Inc. (OTCQB: SPYR) has wasted no time implementing
an aggressive new expansion strategy designed to strengthen the company. In
addition to its wholly-owned subsidiary in the food service industry, SPYR
recently completed an acquisition to enter the digital publishing and
advertising industry. Franklin Networks, Inc., the company’s new subsidiary,
included eight operating website assets with established revenue streams.
“We know that consumers are looking for
engaging content that includes the functionality that is a feature of our new
assets,” stated James R. Thompson, Chief Executive Officer of SPYR. “The
quality of the content and functionality they offer is outstanding and we’re
excited about what’s ahead for us.”
Within days of the purchase of Franklin
Networks, SPYR added to its new subsidiary’s digital media properties through
the acquisition of CelebrityHQ.com. Including the new site, Franklin Networks
currently operates monetized websites focused on topics including food, travel,
fitness, nutrition, fashion, parenting and celebrity news. The company expects
to increase its presence in the ever-expanding digital marketplace through its
new assets, effectively generating greater awareness of its brands and driving
substantial growth.
In an effort to further expand its
digital media offerings and drive revenue through digital advertising efforts,
SPYR also recently announced the formation of SPYR APPS, LLC. With this move,
the company has inserted itself into one of the most rapidly growing industries
in history. According to a report by Statista, mobile app revenue was measured
at $18.56 billion in 2012, and forecasts indicate growth to approximately
$76.52 billion by 2017. The move is designed to position the company in the
markets where growth potential is the greatest, and, with a rapidly expanding
portfolio of companies in the digital media space, SPYR appears to be well
positioned to capitalize on the growth of its new markets.
As of January 7, 2015, the company
reported more than $6.7 million in the coffers, putting SPYR in what is,
arguably, the strongest financial position in its history. Armed with a new
team of executives with an aggressive expansion strategy, it’s an exciting time
to be a shareholder of this growing company. Look for additional moves in the
coming month to continue strengthening the company’s strategic position.
“[T]he name SPYR (a play on the word
Spire) clearly indicates to the marketplace where we intend to go: to the top
of our industry,” continued Thompson.
Get more info on SPYR by visiting
www.spyr.com
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