ARN

Kondoot lodges prospectus with ASIC

For preliminary public offering of its shares to raise $10,000,000

Australian live video social network, Kondoot, is aiming to become a listed company on the Australian Stock Exchange (ASX). It recently lodged a prospectus with the Australian Securities and Investment Commission (ASIC) for the preliminary public offering of its shares to raise $10,000,000.

Under the prospectus, there are 83,333,334 new Kondoot shares offered at $0.12 each. All applications for shares under the prospectus must be for a minimum of 16,667 shares ($2000).

Kondoot offers users the ability to connect with friends, family and followers and broadcast themselves to a global audience, at no charge.

It combines social networking features with live video streaming, enabling users to have the intimacy of live video communication, but with the option to broadcast their message to the public at large.

"We have developed a concept that we believe has the potential to change the way the world communicates, opening up huge opportunities in areas of promotion, education and sharing personal moments with friends and family around the world," Kondoot co-founder and executive director, Mark Cracknell, said.

He said the company is looking forward to sharing opportunities the company has to offer with new investors.

The company’s initial focus will be on the American and Australian markets and plans to boost its European and South-East Asian presence.

For more information on Kondoot's founders, click here.

Nominations for the 2012 ARN IT Industry Awards open on Tuesday, June 12.

More about: ASIC, Australian Securities and Investment Commission, Australian Stock Exchange, etwork
References show all

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
Users posting comments agree to the ARN comments policy.
Login or register to link comments to your user profile, or you may also post a comment without being logged in.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: Australian Stock Exchange (ASX), Kondoot, live video social network, share offer, social networking
rhs_login_lockGet exclusive access to ARN's news, research and invitation only events.
ARN Distributor Directory
Find distributors by name | vendor | location
Channel Deals
/deals/avg/213_avg-internet-security-3-pc-2-year-10-pack-reta
AVG (AU/NZ) Pty Ltd

AVG Internet Security 2012 10 Pack Retail Specials

More details »
ARN Vendor Directory
Find vendors by name | category

iAsset is a channel management ecosystem that automates all major aspects of the entire sales,marketing and service process, including data tracking, integrated learning, knowledge management and product lifecycle management.