CrowdGather Inc (OTCMKTS:CRWG) believes in inorganic growth and the company is not departing from that strategy just yet. In the latest move, the company announced adding digital assets WeedTracker.com and WeedinHollywood.com to its portfolio. The deal to acquire the two assets includes assumption of ownership of both the domain names and online community. The specialty social media and gaming platform believes it has more room for growth and strategic acquisitions like the latest ones will accelerate that growth.
The new additions to the expanding digital assets portfolio of CrowdGather Inc (OTCMKTS:CRWG) are WeedTracker.com and WeedinHollywood.com. The other asset that the company added alongside the two is DispensaryWeed.com. In the past, CrowdGather has been able to make strong gains through opportunistic deals and it believes that latest developments will be no different.
The company is particularly interested in enhancing its user base while driving a deeper presence in advertising opportunities and more.
Executive comment
Commenting on the latest acquisitions, CrowdGather Inc (OTCMKTS:CRWG)’s CEO, Sanjay Sabnani, clearly stated that their immediate move will be expanding access to WeedTracker to include mobile platform and make it a locator app franchise. Additionally, Sabnani said their able engineers at CrowdGather will see to it that WeedinHollywood.com becomes a front-row cannabis-themed game title.
Amid the ongoing acquisitions, Sabnani cited that their mission remains clear and that is to gather a large and crowd of online users with the aim of entertaining them through their rich collection of apps, games and sites. Of course, the company also keen to enhance shareholder value.
Financial update
In the most recent financial update, the company disclosed significant improvements in its top-line for both 3Q2015 and the first nine months of the fiscal.
CrowdGather Inc (OTCMKTS:CRWG) generated revenue of $0.69 million in 3Q2015 or the three months ended January 2015. For the nine months to the end of January 2015, the company reported more than $1.49 million in revenue. The figures were impressive as they compared to just about $0.45 million and $1.28 million for 3Q and first nine months, respectively, in the previous fiscal year.
