SWMX Billing, Revenue Up For Q1
May 14, 2007 at 7:52 AM (PT)
SWMX INC. announced results for the first quarter ended MARCH 31, 2007. Transaction volume, representing gross billings, increased 18.6% to $8.3 million from $7 million in Q4 ’06, while revenue increased 29% to $1.3 million from $1 million in Q4 ’06. Registered radio stations increased 12.5% to 1,800.
"The first quarter saw SWMX continue to execute on its long-term strategy of advancing its position as the leading electronic marketplace for buying and selling ad time in both radio and television by fueling awareness and adoption of the SWMX marketplace among advertisers and media owners," said CEO JOSH WEXLER. "The beta program for SWMX Television 2.0 is progressing well, and we have continued to implement refinements to the feature set and functionality based on the feedback we are receiving from our client base. To this point we are very pleased overall with the positive response the platform has received from our partners."