Leo Hindery Jr. has acquired a stake in multimedia platform MOKO Social Media. No financial terms were disclosed. Hindery is a managing partner of media industry private equity fund InterMedia Partners. He is also the former chairman and CEO of The Yes Network.
NEW YORK, NY–(Marketwired – Jul 30, 2015) – Media industry veteran and recently appointed MOKO Social Media Non-Executive Director, Mr. Leo Hindery Jr., has acquired 2,638,500 ASX listed shares (ASX: MKB) in MOKO Social Media. MOKO Social Media ADRs trade on the NASDAQ (NASDAQ: MOKO) on a 40:1 MKB:MOKO conversion — the acquisition representing a NASDAQ equivalent of 65,963 MOKO shares.
The acquisition of shares has been Mr. Hindery’s first personal financial investment in MOKO Social Media, following his appointment to the Company’s Board with effect from 1 April 2015. Since his appointment, Mr. Hindery has been actively involved in steering corporate strategy and developing a relationship with the company.
Mr. Hindery is Managing Partner of InterMedia Partners, LP, a New York based media industry private equity fund. From 2001 to 2004, he was the Founding Chairman and CEO of The Yes Network, the regional television home of the New York Yankees, where he won five executive producer Emmys for outstanding programming.
Mr. Hindery was President and CEO of AT&T Broadband, which was formed out of the 1999 merger of Tele-Communications, Inc. (TCI) into AT&T, and was elected President of TCI and all its affiliated companies, then the world’s largest cable television system operator and programming entity, in February 1997.
Mr. Hindery, a member of the Cable Industry Hall of Fame, has been recognized as International Cable Executive of the Year, Cable Television Operator of the Year, and one of the cable industry’s “25 Most Influential Executives Over the Past 25 Years.”
About MOKO SOCIAL MEDIA Limited
MOKO Social Media is at the forefront of the next generation in social media and publishing, providing innovative products and content to enable communities to engage and interact. MOKO is a platform publishing company that provides tailored content for high value, niche user groups. Mobile devices, including cell phones and tablets, account for 90 percent of user engagement.
MOKO is currently targeting students, political supporters and active lifestyle participants: communities that share common interests and need to engage regularly and efficiently. MOKO aims to capture these audiences by becoming their destination of choice for information and interaction. It does this by creating highly relevant and exclusive content, and by providing the platforms that enable the communities to consume and share the content seamlessly across devices.
MOKO then generates revenue from sponsorship, content syndication, social network distribution, advertising and other monetization of the platforms.
This integrated approach gives MOKO unique exposure to attractive markets that can be leveraged for revenue and growth. As MOKO grows, there are clear synergies across different products, as well as significant opportunities for cross promotion and diversification.
MOKO’s Monthly Unique Visitors (MUV’s) were 10.1 million as of June 2015 and its Monthly Social Reach (MSR) is currently around 179 million people. MOKO aims to reach 10-15 million MUV’s by the end of 2015. MOKO is listed on NASDAQ (MOKO) and the Australian Securities Exchange (MKB).