Mentioned:
MIM -1.45% GOOG -0.89%
One of the most exciting publicly traded consumer cloud technology companies is scaling up. And it might just be the beginning.
What’s happening:
- MiMedia (TSXV: MIM) has officially confirmed that smartphones that have MiMedia’s technology preinstalled as the default media gallery have begun being shipped into the United States of America
By the numbers:
- MiMedia has publicly stated they anticipates that 2M smartphones will their technology already installed will be shipped into the United States over the next 12 months
- MiMedia is expecting $10 USD in average revenue per user from advertising revenue alone, with additional revenue being generated from cloud storage
- MiMedia has invested over $50M CAD into researching and developing their proprietary consumer cloud technology since inception
Why it matters:
- The consumer cloud technology developed by MiMedia is a disruptive new approach for smartphone manufacturers to be able to directly share in the revenue generated from both mobile advertising and cloud storage, which is a stark contrast to the approach taken by technology giants such as Apple (NASDAQ: AAPL) and Google (NASDAQ: GOOG)
Going deeper:
- MiMedia has also been aggressively cutting deals with large scale telecommunication companies in Latin America and Mexico to become the default media gallery preinstalled on all new smartphones being produced
