Whitefish, MT / May 20, 2014 / CrowdGather Inc. (CRWG), owner and operator of online social media and gaming properties, recently announced the acquisition of the social gaming firm Plaor. With the social gaming industry expected to grow at 16.1% to $17.4 billion by 2019, according to Transparency Market Research, the acquisition provides the company with unique exposure to a rapidly growing industry.
Plaor’s claim to fame is its Mega Fame Casino social casino app available on Facebook, iOS, and Android. With more than 300 celebrity members, users can play more than a dozen unique slot themes, four types of poker, video poker, and its innovative MegaFame Blvd game in the presence of stars. The company generates approximately $1 million in annual revenue with 20,000 daily active users.
The acquisition has led to heightened interest in the company’s stock, which now stands at interesting technical levels:
CrowdGather, Inc. (OTCQB: CRWG) | Technical Analysis
Investors in the social gaming space, including companies like Zynga Inc. (NASDAQ: ZNGA) or Glu Mobile Inc. (NASDAQ: GLUU), may want to take a closer look at the stock given the fundamental and technical factors underlying a potential move higher over the near-term and long-term.
About CrowdGather Inc.
With its growing portfolio of special interest forums and enthusiast message board communities, CrowdGather (www.crowdgather.com) has created a centralized network to benefit forum members, forum owners, and forum advertisers. CrowdGather provides a highly interactive and informational social network for members, a management and revenue-sharing resource for third-party forum owners, and a largely untapped advertising network for marketers worldwide.
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SOURCE: Emerging Growth LLC