Dallas, Texas 10/29/2013 (Financialstrend) – Blue Calypso Inc (OTCBB:BCYP) is an mobile gaming and application development company with a market cap of $27.14 million. Its applications are specially designed to enable its client companies to leverage the social media as an advertising channel. It also helps its clients to engage its target customer base and track the user pattern and activity levels. The small cap player already boasts of big industry names in the automotive and consumer goods segment as its paying customers.
On October 11, it was reported that the app developer had managed to secure strategic funding of close to $1 million as proceeds by selling common stock to a private investment firm Bonanza Capital. Commenting about the capital injection via stake sale, Bill Ogle who is the Chief executive officer of Blue Calypso has been quoted as saying that, “Our social media amplification and newly acquired gamification technology enables companies to socialize brands and products, to improve consumer loyalty and to monetize relationships with advocates. Our solutions are attracting strategic investors with extensive experience.” The shares were valued at $0.13 for the transaction. The pricing of the transaction with Bonanza translates to a 30% discount on the stocks yesterday pricing.
In more good news, Last week, rating agency Merriman Capital raised the ratings for this app developer to Buy. The rating agency referenced the strong IP portfolio of the firm followed by robust follow up on companies which are breaking its patent as key reasons for the upgrade. It also highlighted the revenue the firm is able to generate by offering its consulting services to clients via its Blue Calypso Labs division. As of close of business on October 28, the shares of this firm were trading at $0.197 per share down 0.55% from its previous day close price of $0.2 per share.