- In its latest corporate presentation, eCommerce and digital marketing company RooLife Group (RLG) has reflected on its revenue growth and contract pipeline
- RooLife aims to make it easy for businesses to market and sell their products to Chinese consumers
- Significantly, the company saw its unaudited revenue increase by 25 per cent in the June quarter
- Now, fourth-quarter revenue sits at just over $1 million, which brings its 2020 financial year unaudited revenue to $3.4 million, which is a 380 per cent increase on the last financial year
- In April, the company teamed up with China’s Alipay as its new marketing partner
- It comes as Chinese customers are 89 per cent more likely to make a purchase if Alipay is supported
- RooLife is up 6.06 per cent on the market this morning and is trading for 3.5 cents per share
In its latest corporate presentation, eCommerce and digital marketing company RooLife Group (RLG) has reflected on its revenue growth and contract pipeline.
RooLife allows businesses to sell more effectively online, with a focus on the Australian and Chinese markets. Its platform is proven in China with $6 million of new contract sales.
Last month, the company announced its unaudited revenue increase by 25 per cent over the June quarter. Fourth-quarter revenue sits at just over $1 million, which brings its 2020 financial year unaudited revenue to $3.4 million, marking a 380 per cent increase.
RooLife burnt $387,000 over the June quarter, with the majority of that money going towards staff cost, followed by product and manufacturing costs.
In April, the company teamed up with Alipay as its new marketing partner. Alipay is the world’s leading mobile and online payment platform, boasting 1.2 billion users around the world, with 900 million users in China.
It comes as Chinese customers are 89 per cent more likely to make a purchase if Alipay is supported.
RooLife is focusing on growth in three stages — secure new brands on multi-year agreements, maximise commercial partnerships and build on each of the revenue streams.
RooLife is up 6.06 per cent on the market this morning and is trading for 3.5 cents per share at 11:30 am AEST.