DateTix bags more cash for dating app push
DateTix (ASX:DTX) has agreed to sell a non-core consulting business for a possible sale price of $780,000, adding cash to its dating app marketing push.
It told its shareholders today that it had agreed to sell a consulting business which was operated under pre reverse takeover company Enverro to an Indian player, with the sale to be completed this month.
It had previously flagged the consulting business as non-core and had been exploring options for a sale, but the sale doesn’t mean downsizing with the current staff of the company to be retained.
While the sale will decrease non-core revenue in the near term, it provides DTX with additional cash to continue its marketing push for the DateTix dating app.
It recently announced that it had passed 7000 app downloads and more than 3000 hosted dates via the platform in Hong Kong.
The numbers now put it above dating giant Tinder on the Hong Kong iOs download charts.
The Hong Kong market is seen as both potentially lucrative in its own right and a springboard market to both the Singapore and potentially gargantuan Chinese markets.
It also recently told its shareholders the cost per user acquisition metric “has been decreasing” following an increase in brand awareness.
DTX will be hoping the extra cash from the consulting business sale will help it bag even more customers as the result of a renewed marketing push in the market.