London Stock Exchange today welcomes LoopUp to AIM
London Stock Exchange today welcomes LoopUp, a global software-as-a-service (“SaaS”) provider of remote meetings, upon its admission to AIM following a successful fundraising through which it raised £8.5 million.
The Group was founded in 2003 by Steve Flavell and Michael Hughes, current co-CEOs of the Group who met at Stanford Graduate School of Business in the mid-1990s. The Group is headquartered in Shoreditch, London and has offices in San Francisco, New York, Boston, Hong Kong and Barbados, employing 107 people.
Streamlined and intuitive, LoopUp is designed to eliminate common frustrations associated with conference calls to deliver a premium remote meeting experience for mainstream business users along with the quality, security, and reliability expected by global blue-chip enterprises. The Group has approximately 1,850 enterprise customers, including companies such as Alcatel-Lucent International, Cable & Wireless Communications, Travelex, Allied World, National Geographic, Planet Hollywood, Subaru, LateRooms.com, Permira and Kleinwort Benson.
The funds raised will be used to support continued growth by increasing investment in LoopUp’s proven new business acquisition structure, introducing inbound marketing and creating an online sales channel, and further enhancing its product.
To celebrate the occasion representatives of the Company joined co-CEOs Steve Flavell and Michael Hughes at the London Stock Exchange, to open trading in London at 08.00 GMT this morning.
Commenting on Admission, Steve Flavell, Co-Chief Executive Officer of LoopUp Group, said:
“The completion of the IPO process marks an important and exciting milestone on LoopUp’s journey as a UK-headquartered and internationally-minded technology company, and provides a significant catalyst for our continued growth. The reception from investors has been positive and encouraging, and reinforces our belief that our differentiated product, business model and plans for the future provide the foundation needed to deliver on our potential as a public company. Our focus will continue to be on delivering an exceptional product and service to our customers around the world, supported by the funds we’ve raised and emboldened by the faith our new shareholders have placed in us. These are exciting times.”