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Loop Mobile Oversubscribes For IPO

By James Quintana Pearce - Mon 11 Jun 2007 02:34 AM PST

Mobile social networking company Loop Mobile has said that its initial public offering was oversubcribed at the maximum level of AU$5 million. Loop expects to begin trading on the ASX on the 26th of June. Loop has a white brand mobile social network service (with plans to launch with ITV in the UK in August) as well as its own branded service MOKO, which it plans to launch off-deck in the UK at the beginning of 2008.

Posted in: Countries, Australia/NZ, Money, VC M&A, Social Media

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From Harold Goodman Fri 13 Jul 2007 04:13 AM

Loop’s method of mobile content with highly controlled chat seems to be a sure fire method to protect carriers from lawsuit and customers alike from dubious persons on the internet. Customer produced media needs to be guided and protected from undue outside influence but also from the “lunatic fringe” out there in the world of instant gratification.

This may be the sleeper of the year. If Loop takes off, there will no need for a place to land as this business may be the high-flyer of the year, never coming down at all. It may be advantageous to purchase shares in this business plan before the Share Price goes out of range for the small investors. I wonder if I should......?

Any comment?

From Peter C Tue 17 Jul 2007 08:08 PM

Yes I agree that this company has got a quite good prospect. However it is still losing a lot of money - much more than what it can earn. This is the point that stopped me into buying its IPO