Swarmio Media Appoints New Full-Time Chief Financial Officer in Anticipation of High-Growth Phase
The Company Has Recently Demonstrated Strong Revenue Growth After Completing the Soft Launch of its Ember Gaming and Esports Platform with Several Telco Partners
- Swarmio has appointed Mr. Jonathan Visva as its CFO, replacing previous CFO Mr. Kyle Appleby, who had been supporting Swarmio on a part-time basis. Mr. Appleby will continue to support Swarmio as an Advisor.
- The Company is anticipating a high-growth phase and believes it is necessary to appoint a full-time CFO to support this growth.
- Swarmio has now completed the soft launch of its Ember gaming and esports platform across Tunisia, the Philippines and the United Arab Emirates via its telco partners, and expects revenues generated from these partnerships to increase as they progress in 2023.
- The Company has also successfully integrated alternative payment channels including direct carrier billing and digital e-wallets, allowing gamers to pay for in-game digital content without a credit card and ushering in the next phase of growth, during which new and recurring revenues are expected to increase.
TORONTO, Feb. 28, 2023 /CNW/ - Swarmio Media Holdings Inc. (CSE: SWRM) (OTC: SWMIF) (GR: U5U) ("Swarmio" or "the Company"), a technology company focused on the global deployment of its proprietary gaming and esports platform, announces it has appointed Mr. Jonathan Visva as its Chief Financial Officer. Mr. Visva is a Chartered Professional Accountant, a U.S. Certified Public Accountant (Delaware), and he holds an MBA. He has more than 25 years of experience working with international conglomerates in the telecommunications, gas and real estate industries, where he gained significant accounting, auditing and reporting experience in North America and Europe.
Mr. Visva replaces Mr. Kyle Appleby, who had been supporting Swarmio as CFO on a part-time basis and was instrumental in the Company's transition from private to public entity in 2021 and 2022. Mr. Appleby will continue to support the Company as an Advisor moving forward.
"The appointment of a full-time CFO is an important development for Swarmio as we seek to continue accelerating revenue growth in fiscal 2023," commented Vijai Karthigesu, CEO of Swarmio. "During fiscal 2022 we signed partnerships with several of the world's largest telcos to launch our Ember gaming and esports platform across the MENA region. These partnerships have now completed a soft launch stage, with Swarmio having successfully integrated payment technologies that enable gamers to pay for in-game content and other features using gamer e-wallet, direct carrier billing and direct top-up. As a result, these partnerships are entering a new period of growth during which Swarmio expects revenue generation will increase. We also expect to establish new relationships with game publishers, following on from our successful partnership with Tencent Games in the Philippines. I'd like to thank Mr. Appleby for his contributions to the Company over the past few years, and I'd like to congratulate Mr. Visva."
Swarmio deploys its Ember gaming and esports platform to gamers through partnerships with telecommunications companies, who offer the Ember product to their customers as an add-on service. Subscribers to the Ember platform enjoy an ultra-low-latency playing experience, access to exclusive competitive challenges and tournaments, unique gaming content, managed communities, gamification and points system, online store, and gamer e-wallet.
During fiscal 2022 Swarmio announced it had signed revenue share agreements with Telekom Malaysia, Globe Telecom (Philippines), Ooredoo (Tunisia), and Etisalat (UAE). Swarmio also signed an agreement with UniPin, the world's leading provider of in-game digital content, giving Ember subscribers access to an unlimited supply of unique digital content and products which can be purchased inside games without interruption using alternative payment channels that don't require a credit card.
Revenues generated from subscriptions and profit from transactions carried out within the Ember platform through its integrated ecommerce and fintech solutions are subject to revenue share agreements between Swarmio and its telco and game publisher partners.
Swarmio's fully managed, plug-and-play Ember platform can be quickly and seamlessly integrated with major telco operations, allowing telcos to engage and monetize gaming subscribers and gain immediate and meaningful access to the US$200 billion gaming market.
Ember provides a proprietary digital hub for gaming communities, allowing gamers to access an ultra-low-latency playing experience, competitive challenges and tournaments, exclusive gaming content, managed communities, gamification and points system, online store (Swarmio Store), gamer e-wallet (Swarmio Pay), and customized digital content.
Ember also enables game publishers and developers to reach, engage and monetize the 2 billion gamers in Asia, Africa, the Middle East and Latin America, where credit card penetration is relatively low and access to bank accounts is limited. By partnering with telecom operators, Swarmio enables gamers to purchase Ember's exclusive services, solutions and in-game items and content using telco payment channels such as digital wallets and Direct Carrier Billing.
To learn more, visit any of Swarmio's Ember partner sites:
Globe Telecom (Philippines): https://globe.emberhub.gg/
Ooredoo (Tunisia): https://ooredoo.emberhub.gg/
Etisalat (UAE): https://hub.arenaesports.ae/
SLTmobitel (Sri Lanka): https://esports.slt.lk/
Swarmio Media (CSE: SWRM; OTC: SWMIF; GR: U5U) is a technology company focused on deploying its proprietary end-to-end gaming and esports platform, Ember, which enables telcos to monetize their gaming customers. Swarmio has engaged with several telcos that have launched Ember as an add-on service, allowing subscribers to access tournaments, engage in a localized gaming community, challenge friends and influencers, and earn points that can be used to purchase gaming content. Ember is powered by Swarmio's patented Latency-Optimized Edge Cloud ('LEC') technology, which reduces lag and allows gamers to enjoy an optimized gaming experience.
To learn more about Swarmio Media, please visit:
Swarmio Investor Website (https://ir.swarmio.media)
Swarmio on LinkedIn (https://www.linkedin.com/company/swarmiomedia)
Swarmio on Twitter (https://twitter.com/SwarmioMedia)
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation: statements about the Company's growth, the Company's ability to capitalize on the major global opportunity in the gaming and esports market, anticipated benefits to the Company's partners and their customers from using the Company's products, ongoing discussions with potential new customers or partners and the possibility that such discussions may result in additional contracts or revenue for the Company, the Company's future plans, its goals and expectations, including but not limited to, the Company's continuing ability to enter into agreements to deploy its products with international telecommunications companies and game publishers and its ability to monetize these agreements through generating SaaS-based revenues are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the Companies long-form prospectus dated November 10, 2021 (which can be accessed through the Company's profile on www.sedar.com). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Swarmio Media Holdings Inc.
Vijai Karthigesu, CEO of Swarmio Media, (+1) 647-954-0000; For media-related enquiries, please contact: [email protected]; For investor-related enquiries, please contact: Sean Peasgood, [email protected], +1 (437) 826-9900
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