The UK-based company WantMyBet has inked an agreement with Cardinal House. This summer, the British social betting start-up, which was founded in 2014, announced on Seedrs that is looking for contributors ready to fund it with more than £200,000 for a pre-money valuation estimated to about £1.7 million.
Unfortunately for WantMyBet, the company failed to reach the target, but its Chief Executive Officer Olly Joshi, who is also a co-founder of the start-up, revealed that no matter these efforts had turned out to be unsuccessful, they had actually led to the joint-venture agreement with Cardinal House and had attracted attention to WantMyBet. Mr. Joshi also revealed that the collaboration would result in the development of a special product aimed at the Asian market.
The company, established in 2014, features a website and an application that is especially designed to provide customers with the opportunity to share their predictions and betting tips on football matches. According to WantMyBet’s CEO Joshi, the Australia-based Cardinal House reached the British company in order to manage the increasing customers’ interest on the territory of Australia and Asia. The deal also gives WantMyBet an excellent chance for expansion, as it would provide it with the opportunity to reach new customers except for its current ones in the UK.
Under the terms of the partnership agreement, the development of a new WantMyBet-branded website will be funded by Cardinal House. WantMyBet has revealed its hopes to finish the process of creating the new application in 2017, before the start of the next football season. The two companies are to share the proceeds under a special revenue-share agreement.
Cardinal House is an Australian online social gaming products business-to-business and business-to-consumer provider. The company also offers real money gambling platforms. Inking a deal with them, however, was not the only new step for WantMyBet. The latter also released a sports-tipping broadcast via Facebook live. The broadcast has been running over the last couple of months and reflects the company’s willingness to “add another pillar” to their already existing business.
The company’s Facebook Live show of the company had been having great success, according to CEO Joshi. He revealed that the live broadcasts of the company’s application had got 70,000 views in certain weeks, and the customers’ feedback had been pretty good, too.
- Author
Olivia Cole
