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NEWLY listed Internet company Yuuzoo Corp is being hotly traded.
At 10.40am on Tuesday, the stock was up 6.6 per cent to S$0.405 on volume of over 10 million shares valued at more than S$4 million.
Yuuzoo last Thursday reported revenue of US$10.2 million for the three months ended Sept 30, up 38 per cent from a restated US$7.4 million a year ago. It made a net loss of US$16 million due to US$23 million of reverse takeover (RTO)-related expenses, compared to a US$2 million profit a year ago.
At that time, Yuuzoo was trading below S$0.30 a share.
Yuuzoo builds social networks for businesses, and also has an e-commerce, payments and fledgling games segment.
In a recent interview with The Business Times, Yuuzoo executive chairman Thomas Zilliacus said the company's strategy was to reach out to users through television networks in big emerging countries. It recently struck a deal with a Chinese television network.
Yuuzoo made its debut in September after a RTO of components trader W Corp.