LIMOR announces successful fundraising of over €500,000
LIMOR ANNOUNCES SUCCESSFUL FUNDRAISING OF OVER €500,000
Social Audio disruptor completes full launch of its platform
LIMOR (“the Company”), the only social media platform dedicated to all aspects of Social Audio, announces the successful completion of an over-subscribed fund raising, of over half a million Euros.
The proceeds have enabled LIMOR to complete the full launch of its Social Audio platform, which went live earlier this month.
Additionally, the demand and market drivers for Social Audio are sufficiently strong that LIMOR is now attracting significant UK institutional investor interest for a further fund raising at an increased valuation.
LIMOR is advised by TMT Capital, the leading advisor to Europe’s fastest growing technology companies.
Social Audio is the one remaining, undisrupted channel of social media, and is the next evolution of social media. Primarily, it comprises short audio content (less than three minutes), but also more traditional podcast audio content (more than three minutes).
Social Audio benefits from several varied, but significant market drivers:
Changing technology: This is the era of audio (Alexa, Google Home, Siri)
Ears not eyes: ‘Peak screen’ has been reached. 2.7 billion social media users globally are
time poor and want technology to help them save time and multi-task
Seismic advertising shifts: The shift from TV to digital advertising. In 2017, global digital advertising ($209 billion) exceeded global TV advertising ($178 billion) for the first time, with
the gap set to widen
Podcast growth: The podcast industry is in exponential growth, yet is still in its infancy
Privacy issues: Consumers want to engage online, but sharing fewer personal images and
using other means of communication – i.e. audio
LIMOR is democratising Social Audio and removing barriers between creators and listeners. The Company’s proprietary platform and technology enables users to instantly:
Listen to - and converse with - short social audio content and podcasts from their smart
LIMOR’s CEO is Shane Monahan, the former Leinster, Connacht, Munster, Gloucester and Ireland U20’s grand slam winning rugby player. Shane founded LIMOR in 2014 when he anticipated future demand for audio content and identified the barriers to entry for audio and traditional podcast creation.
The Company’s name derives from its philosophy (‘Less is More’). This philosophy has shaped the platform’s ease of use and the focus on an uncomplicated user experience.
Shane Monahan, CEO of LIMOR, commented:
“This fund-raising is a huge vote of confidence in LIMOR and our business model. Social Audio is the last social media channel to be disrupted and we are the ones doing it. What Instagram did for images, we are doing for audio.
“We are perfectly positioned to dominate the Social Audio market - nobody else does what we do. This is the era of audio and it is very exciting; we know that the demand is there – we’re already seeing it. I invite people to come and join the LIMOR conspiracy.”
LIMOR’s platform – which is available on both the Apple and Android operating systems - has several levels of functionality. These include:
A free entry level service (‘freemium’) followed by;
A premium level which allows paying subscribers greater scope for audio content creation,
and has less advertising
Other levels of LIMOR subscriptions are more geared to large social influencers and B2B audiences.
LIMOR has several potential revenue streams, which include:
Subscribers to its premium platform;
Subscribers to its B2B platform; and
Big brands as strategic sponsorship partners: e.g. paying for audio ads in the entry level offering
LIMOR is fully GDPR-compliant and best practice data protection and privacy is at the heart of the Company’s business model. LIMOR works with Bugfinders, the renowned web security company, to ensure its platform is safe and secure.
Shane Monahan, CEO email@example.com
Jamie Kirkwood, Founding Partner & CEO
Angus Stewart, Partner
Thoburns (Public Relations)