Redbox Mobile Secures Thames Valley Berkshire Expansion Loan

On the 27th of February at 16:46 Redbox Mobile received a call from The FSE Group, confirming they would be financially involved in the next phase of the Redbox Mobile journey.

As timing goes, it does not get much better. 14 minutes later Redbox Mobile kicked off Operation Fearless, a 2300 mile journey to Barcelona for the opening of the world’s largest gathering of mobile phone companies, know as MWC.

Driving in aid of Naomi House and raising money for a great cause, the team’s energy and motivation was almost tangible.

Rory Mudie, CEO, quotes:

“When elements fall into place, the excitement and passion in the team to be brilliant and think outside of the box in all aspects, delivers stunning results. The car ran superbly (most of the time) and having the back up of the team made for a great adventure. Amazingly, it’s cheaper to drive a team to Barcelona than it is to fly them so we actually saved money. The show was a great success, with so much interest in ASO. We returned with over 300 global leads, which has left the team flat out since.”

Redbox Mobile closed year two of trading, posting revenues triple that of year one. It has maintained existing clients and grown new brands like Virgin and Universal.

Mudie continues:

“We are still a start up and the pace that we operate at must be faster than the rest. App Store Optimisation (ASO) has grown in its scope; the core is still to get your app discovered in the App store via organic search, but our techniques have advanced considerably as has our knowledge base and product line. We are working much deeper with our big brand partners like News UK, Virgin and Tesco. Focusing on ASO and understanding user search has now made Redbox the vital partner for any brand with an app or launching one. Having the ongoing support of the FSE group will allow us once again to accelerate our plan and move faster than the pack; keeping ahead and being the best has always been the plan”

Cheryl Weeks, Fund Manager at The FSE Group, says: “Redbox has achieved a great deal over the last year and with a portfolio of clients including Ladbrokes, Vodafone, News UK and Tesco, we believe the company has a great future. We know Rory and his team well and we are delighted to support them for a second time through the Thames Valley Berkshire Funding Escalator. We wish them all the best for the future and are looking forward to seeing how the company progresses.”

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TVB Commercialisation Loan Assists Redbox Mobile Advertising Company

Having spent his 16 year career at the cutting edge of advertising, including a senior business development position with Vodafone, Rory Mudie was well-placed to start a company specialising in mobile advertising.

Mobile advertising currently represents only around 3% of the £17billion spent on advertising in the UK every year, however, as our mobile devices become an increasingly integrated part of our day to day lives, this market looks set to be on the verge of an exponential increase. Smartphones now account for 65% of all mobile phones in the UK and we use them for purchases more than any other country in the world.

Redbox Mobile was established in February 2013 utilising Rory’s skills and experience in the industry and offers a range of mobile and location-based marketing services. In the early stages of the business, the main target was advertising agencies, but he soon realised that this was lengthy and restrictive approach. Since then, Redbox has taken the approach of going direct to brands and subsequently have secured a number of customers.

Rory Mudie explains how Redbox can provide a unique advantage: “Working alongside some of our contacts within the mobile advertising industry, we have been able to establish a number of suppliers like GFK, who provide highly detailed mobile insight. Using these suppliers, we can offer a range of mobile location services to suit client needs. As an example, Knight Frank consulted us to help them demonstrate an engagement with evolving technologies, but in a way that added real value to their existing marketing material. We developed a tag within their brochure using Near Field Communications (NFC) that provided instant access to a virtual property tour application.”

Redbox are now in the development stages of an online platform called The K6 (Knowledge and the 6 core products the business is developing ASO, GEO, In-App, NFC, Proximity Beacons and VT-Display). This reflects the dynamic nature of mobile advertising by enabling clients to stipulate their specific requirements, such as audience demographics and specific timing of campaigns.

Currently trading from an office in Hungerford, Berkshire, a team of six is in place with the intention to hire an apprentice. Redbox have been successful in securing a £50,000 loan from the Thames Valley Berkshire Commercialisation Loan Scheme. This loan will support the costs of developing the Redbox products and building the K6 Platform.

Martin Coomber, Fund Manager at FSE Fund Managers Ltd, which manages the loan scheme, adds: “We see clear opportunities for growth within the mobile advertising space and believe their clever initiatives and campaigns alongside the ongoing development of the K6 Platform provide Redbox with a unique advantage.”

Contact Rory Mudie

Tel: 07920 001000

rory@redboxmobile.co.uk

www.redboxmobile.co.uk