Crowd Mobile has struck several partnership agreements to launch its mobile apps products in Brazil and Columbia.
The partnerships will allow the company to launch its Question & Answer & Content Subscription products in both markets, which have around 100 million smartphone users.
Crowd Mobile has established mobile-payment connections with telecommunications companies Vivo, TIM, Oi and Claro in Brazil and Claro, Movistar and Tigo in Columbia.
“We view this expansion as an integral part of Crowd Mobile’s plan to become a truly global mobile player, and anticipate meaningfully increasing our market share in these regions,” chief executive Domenic Carosa said Monday.
Crowd Mobile said little capital investment is required to help it expand as it already supports the languages used in the two countries.
News of the company’s expansion came as it booked a net loss of $752,462 for the six months ended December 31, hurt by rising costs associated with its expansion plans. The company had reported a net profit of $436,760 a year earlier.
First-half revenue more than doubled to $14 million from $5.5 million a year ago.