1 million downloads, page-107

The valuation I have used in the medium term is as follows.

1. In the medium term 4-6 months from now I imagine that they will have a user base of 6-8 mil across android and ios. That kind of traction facilitates organic growth.

2. Backed up by a good marketing mix, (the agency they have hired has a great track record for these things) the uptake and geographic penetration will be a lot faster, think snowballing. If you think the android installs are going fast, you have to remember that if the world is divided into equal halves (which it is not) android /iOS - then one of the flaws is having a communication app that is only on one platform. Why? Because the point of the app is to communicate, so if you have a mate on an iPhone then it makes no sense to download the app in the first place. Factoring this in, I'm assuming that uptake after iOS release will push forward over 150% current rate.

3. The user base of 6-8 mil are going to be the brand evangelists that drive this app forward and push organic growth, create buzz and drive social media towards abetted product.

4. The satellite retail b2b clients will also be generating revenue which will add value to the SP.

5. In 12 months I am predicting a userbase of over 25-30mil. And a valuation of over 300m based on the potential of this app to become bigger if not as big as Skype/viber(who in my opinion is not as advanced in their approach)

Management is doing a great job so far and I am being constantly surprised as to how well they are executing their plan.

I hope that helps.