Getting the word about consumer products and services remains a lucrative endeavor and New York-based Mobiquity Technologies, Inc. (OTC:MOBQ) was happy to share prosperous news with its investors.
Mobiquity, a leading technology provider in next-generation mobile advertising media space, Wednesday announced first-quarter revenues of $1.59 million, which represents transformational growth when compared to just $0.04 million in revenues generated in the first quarter of 2018.
MOBQ says the first of three factors in this gain involved the acquisition of Advangelists, which has dramatically increased the baseline revenues of Mobiquity, which is now tracking towards a $10-million annualized revenue run rate for 2019.
Second, the Company added four new experienced industry sales experts that are contributing to current growth. Lastly, Mobiquity is benefiting from expanded existing client relationships; existing clients are using Advangelists technology for expanded media spending.
Said CEO Deal Julia, "Our first-quarter sales results are a clear demonstration of the momentum and impact of integrating the Advangelists platform into our sales model and our marketing program.
"We are excited to provide further updates as we look to accelerate our sales results throughout the remainder 2019."
Shares in MOBQ jumped just less than a cent, or 6.6%, to 15.99 cents, on volume of 101,000
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