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Crossrider plans mobile push

Specialist digital advertising services group Crossrider delivers impressive revenue growth and has exciting plans to pursue mobile markets.

While Crossrider (CROS), which listed in September 2014, is yet to fulfil its ambition of being "the de facto platform for delivering relevant web and mobile adverts to billions of people", its maiden results certainly showed it is moving in the right direction. Following its $75m (£50m) IPO, the company, which provides services to increase the cost-effectiveness of digital advertising, increased its monthly users by a third to 200m and has grown daily "monetised" advertising spaces by 12 per cent to 1.8bn, helping to drive sales up almost fivefold.

IC TIP: Hold at 103p

Most of this growth was generated by the group's flagship web business, which is benefiting from growing demand from companies for big data analysis. Since listing, the number of web app developers using Crossrider's software increased 13 per cent to 34,000. Further growth, meanwhile, is expected from new products for Apple computers and PCs.

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