Phorm Confident as Turkish Operation Gathers Pace

ISP-level ad targeting pioneer Phorm has announced 'strong sustained growth in revenue and other KPIs', based on its Turkish operations.

Four and a half years after its involvement in an abortive and legally ill-fated foray into the UK market with partner BT, eight years on from its founding and with cumulative losses well over $150m, CEO Kent Ertugrul (pictured) finally said a year ago Phorm was 'approaching its defining moment' with the real possibility of profit in the next twelve months: shortly after announcing that its Turkish operation was gathering pace.

Figures released by the company today illustrate this acceleration. The service now has 3.6 million monthly opted-in users, 'conclusively demonstrating the viability of an opt-in model'; and 1.2 million active on daily basis, double the figure when last reported on 28th June. Phorm also says it has continued to build its publisher network, with ad network and publisher partners providing over 1.2 billion requests per month, and more than 66 million ad impressions served in August. Crucially, it also reports 'increasing evidence of market-leading conversion rates', with advertising partners reporting 'up to 40%' conversion.

The statement concludes: 'The Company is now focused on building its revenue based on these excellent results and will update the market further in due course.' The market seems impressed: shares in the company were trading up 107% at 6.20 pence on Friday morning.

Web site: www.phorm.com .