Frontier Digital Ventures Limited (“FDV”, ASX: FDV) is pleased to release its financial results for the 6 months ended 30 June 2018 (“1H 2018”).
CEO and Founder, Shaun Di Gregorio, commented on the results during a briefing to investors, late August: “Our 1H 2018 results round out a fantastic two years of growth since IPO. Operationally, our portfolio of market leading businesses continue to grow with half year revenues having tripled over the last 2 years. Financially, we continue to effectively manage and invest into our most successful businesses. The recently completed A$14.4m fully underwritten entitlement offer has strengthened our balance sheet as we continue to invest and grow in 2018 and beyond.”
Capitalising on fast growing GDP, high internet and mobile penetration, to build a “safe space” for buyers, sellers and agents in the classifieds space
Building on their iProperty track record - where Di Gregorio (as iPropertyGroup (ASX:IP) CEO) played a pivotal role in transforming iProperty from a US$15m small online business into the largest listed internet company in ASEAN with a market capitalisation of US$600m and its eventual sale to REA Group at a value of US$534m - FDV is now working with entrepreneurs in emerging markets like Pakistan & Ghana to help them execute, scale-up and succeed in the classifieds space.
Today, FDV is present in almost 20 frontier and emerging markets across Developing Asia, Central & South America and the Middle East & North Africa.
FDV chooses to focus its efforts on these frontier and emerging markets, because mobile and internet usage are growing at explosive speeds, yet trust levels between sellers and buyers remain low. The platforms FDV invests in provide a transparent and trusted space for a community of agents, buyers and sellers to transact business - whether it’s in property, automotive or other areas. Eventually, these communities self-regulate, which is why users trust the online platforms over individual buyers or sellers.
The impact of FDV’s work goes far beyond simply allowing more transactions to happen online – they are actually giving a means to the people to more efficiently buy and sell homes, and vehicles, which otherwise may not happen without the investment and time FDV puts into the local platforms and entrepreneurs.
Today, FDV’s portfolio of businesses touches a:
- - 900m+ population
- - US$1.8tn market GDP
- + 5.3% average GDP growth rate
- - 268m total website sessions in 2017
“The success of our business is strengthened because we know that we’re making a real impact on people’s everyday lives. Whether it’s in helping someone find a new home, or to ensure that when someone sells a car, they’re able to help themselves get the sale they deserve. By working with and investing in local entrepreneurs who build the online platforms that make these happen, we know we are also helping local businesses to flourish where they otherwise may not have,” said Di Gregorio.