Montreal, Quebec--(Newsfile Corp. - February 6, 2020) - GOLO Mobile Inc. (TSXV: GOLO) ("GOLO" or "the Company") announces solid key performance indicators in advance of publishing the Company's Annual Financial Statements and Management Discussion and Analysis for the year ended December 31, 2019. Indicators show significant growth compared with the year ended December 31, 2018, which was the Company's first year of operations as GOLO.
Consumer orders across the Company's brands, including white-label products, exceeded 152,000 and is an increase of 137%; this relates to orders placed for pick up or delivery in Montreal and Toronto, as well as mobile ordering in major airports in the United States. The Company's range of applications had downloads in excess of 143,000 for an increase of 399% compared to 2018. Merchant volume during the same period increased by 228% to more than $4 million. The active merchant base increased by 113% to more than 500, while the number of active users grew by 48% to reach 21,000.
"GOLO is in the early innings of a fast growing space and has been able to demonstrate to our customers the continuous improvements and increased convenience of the products and services we offer via eco friendly delivery in high population density areas on our native mobile and web app," said Peter Mazoff, President and CEO of GOLO Mobile Inc.
The Company began trading on the TSX Venture Exchange under the symbol GOLO.V in July 2019. The complete 2019 Annual Financial Statements and Management Discussion and Analysis are expected to be published in April 2020.
About GOLO Mobile Inc.
GOLO provides eco-friendly delivery of everyday items to individuals in high physical-density areas. We focus on office towers, residential buildings corporate campuses, hospitals, airports and other areas with suitable populations. We provide property managers with increased tenant engagement, as well as revenue sharing opportunities, and our open API allows for integration into leading platforms and building systems.
GOLO offers customers a variety of high-quality products and services for purchase from its native mobile or web-based applications, providing time-saving convenience for daily tasks such as mobile ordering ahead of food and restaurant meals, pharmacy items, pet supplies, dry cleaning, and more.
GOLO currently services the Montreal, Toronto and Chicago markets. GOLO is backed by strong institutional shareholders and private equity investors including Blackstone and CVC Capital Partners. GOLO Mobile Inc. is traded on the TSX Venture Exchange under the symbol GOLO.V.
NOTE TO THE MEDIA:
For interview requests with GOLO's CEO and/or additional information, please contact Chantale Baar. For Investor Relations inquiries, please contact ir@goloir.com.
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Information:
Chantale Baar, PR Consultant
Communications Chantale Baar
(514) 992-6463
cbaar@communicationcb.ca
Source:
Stefani Balinsky, Marketing
GOLO Mobile Inc.
(514) 670-8219
stefani.balinsky@golo.io
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