Snakk Media
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Snakk Media is a
mobile advertising Mobile advertising is a form of advertising via mobile (wireless) phones or other mobile devices. It is a subset of mobile marketing, mobile advertising can take place as text ads via SMS, or banner advertisements that appear embedded in a ...
company, established in 2010 by Derek Handley,
Geoffrey Handley Geoffrey Handley (born April 9. 1975) is an entrepreneur, technology pioneer, and investor. He is a General Partner at the investment firm Haitao Capital and serves as an advisor and board member to several portfolio companies. Handley is most ...
, and Andrew Jacobs. Snakk Media is headquartered in
Auckland Auckland ( ; ) is a large metropolitan city in the North Island of New Zealand. It has an urban population of about It is located in the greater Auckland Region, the area governed by Auckland Council, which includes outlying rural areas and ...
,
New Zealand New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of isla ...
. In March 2013, Snakk Media became listed on the New Zealand Alternative Exchange and moved to the NXT index in November 2015.https://www.nxt.co.nz/companies/SNK/instrument/SNK
On December 11, 2018,
The New Zealand Herald ''The New Zealand Herald'' is a daily newspaper published in Auckland, New Zealand, owned by New Zealand Media and Entertainment, and considered a newspaper of record for New Zealand. It has the largest newspaper circulation in New Zealand, ...
reported that Snakk Media had entered a voluntary administration with Rahul Goyal and Scott Langdon of KordaMentha, appointed as joint administrators. According to Brian Gaynor, the executive director of Milford Asset Management, the company fell short of expectations and currently has a market value of less than $1 million. Subsequently, on December 21, 2018, Snakk Media announced on the NXT platform that Mr. Joel Williams, the Chief Executive Officer, had departed from his role within the company.


History

Snakk Media was established in 2010 by Geoff and Derek Handley, along with Andrew Jacobs. It became listed on the New Zealand Exchange in March 2013. The company expanded its operations with offices in
Sydney Sydney is the capital city of the States and territories of Australia, state of New South Wales and the List of cities in Australia by population, most populous city in Australia. Located on Australia's east coast, the metropolis surrounds Syd ...
,
Melbourne Melbourne ( , ; Boonwurrung language, Boonwurrung/ or ) is the List of Australian capital cities, capital and List of cities in Australia by population, most populous city of the States and territories of Australia, Australian state of Victori ...
,
Brisbane Brisbane ( ; ) is the List of Australian capital cities, capital and largest city of the States and territories of Australia, state of Queensland and the list of cities in Australia by population, third-most populous city in Australia, with a ...
, Auckland, and
Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...
between 2010 and 2013. In May 2014, Snakk Media made a minority investment in Moasis Global, granting exclusive rights to its patented location-targeting technology in New Zealand and
Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...
. The company also invested in Plyfe, a cloud-based ad technology platform based in
New York New York most commonly refers to: * New York (state), a state in the northeastern United States * New York City, the most populous city in the United States, located in the state of New York New York may also refer to: Places United Kingdom * ...
. In September 2014, Snakk Media launched Represent Media, a wholly owned subsidiary selling advertising space for premium publisher titles on mobile apps and websites. ESPN and CBS Interactive were among its early customers. In November 2014, Snakk Media ranked as the 33rd fastest-growing business in New Zealand on the Deloitte Fast 50 index. It was also ranked as the 186th fastest-growing technology business in the Deloitte Asia Pacific Technology Fast 500. During this time, Snakk Media introduced TV Sync, a product enabling synchronized ads across television, mobile, and tablet screens. In August 2015, Snakk Media launched Touch Create, a mobile-first creative business providing mobile creative services to brands, media agencies, and creative shops across Australia, New Zealand, and Southeast Asia. In November 2015, a subsequent Share Offer was issued, raising NZD $2.2 million. On February 2, 2016, Snakk Media announced a strategic partnership with the US mobile ad tech company UberMedia, exclusively distributing its in-app social, interest, and geo-location mobile advertising products in Australia, New Zealand, and Southeast Asia. Mark Ryan stepped down as CEO in December 2016, after serving since April 2013. He was succeeded by CEO Joel Williams. In March 2016, Snakk Media fell victim to a " whale phishing" scheme, resulting in the loss of approximately $215,000 NZD to an unknown fraudster through a fake email.


Funding

In May 2013, Snakk Media successfully raised $6.5 million through a share purchase plan. During August 2015, Snakk Media faced media scrutiny regarding its capitalization and uncertainties about its ability to continue operating as a going concern, as noted in its 2015 annual report by auditors Staples Rodway. In response, the company stated that there was no cause for concern and announced plans to raise additional capital. Following that, in November 2015, a subsequent share offer was released, resulting in the successful raising of NZD $2.2 million.


Recognition

Snakk Media obtained certification as a "Certified B Corporation" in 2013, meeting the social and environmental performance standards set by the non-profit organization B Lab. Based on audited year-on-year growth from April 1, 2011, to March 31, 2013, Snakk Media achieved a growth rate of 486.3%, ranking it as New Zealand's 6th fastest-growing business on the
Deloitte Deloitte is a multinational professional services network based in London, United Kingdom. It is the largest professional services network in the world by revenue and number of employees, and is one of the Big Four accounting firms, along wi ...
Fast 50 index. In December 2013, Snakk Media secured the 62nd position among the fastest-growing technology businesses in the Asia Pacific Technology Fast 500. It was one of only 16 New Zealand companies to rank within the top 100. In August 2014, Snakk Media was included in the TIN100+ Ten Hot Emerging Companies, which recognizes high-performing companies in the technology export sector as part of the annual TIN 100 Report. Snakk Media Ltd. was honored with a place on the third annual 'Best for Workers' list in September 2014, acknowledging its worker impact score in the top 10% of all Certified B Corporations. In November 2014, Snakk Media ranked as New Zealand's 33rd fastest-growing business on the Deloitte Fast 50 index, based on audited year-on-year growth from April 1, 2012, to March 31, 2014, with a growth rate of 254.05%. Additionally, in November 2014, Snakk Media was ranked as the 186th fastest-growing technology business in the Deloitte Asia Pacific Technology Fast 500.


See also

* List of mobile advertising networks *
Mobile advertising Mobile advertising is a form of advertising via mobile (wireless) phones or other mobile devices. It is a subset of mobile marketing, mobile advertising can take place as text ads via SMS, or banner advertisements that appear embedded in a ...


References

{{reflist Software companies of New Zealand Marketing companies established in 2010 Companies based in Auckland Companies listed on the New Zealand Exchange