THE INFORMATION CONTAINED WITHIN THIS
ANNOUNCEMENT IS DEEMED BY IAMFIRE PLC TO CONSTITUTE INSIDE
INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU)
NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
IamFire plc
AQSE: FIRE
(“FIRE” or the
“Company”)
Update on WeShop
Holdings Limited
IamFire is pleased to share the
following update received from WeShop Holdings Limited regarding
performance figures since the soft launch of the WeShop platform
and initial rollout of influencer campaigns.
“WeShop is pleased to report the following highlights for the
months of July and August since the soft launch of the platform in
the United Kingdom.
Highlights
- User downloads as at end of August were over 23,000
- Annualised gross merchant value (GMV) averaged £2.4m in July
rising to £5.8m in August
- Average spend per transaction increased from £75 in July
to £81 in August
- Transactions increased from 2,633 in July to 5,981 in
August
- Click to purchase rate averaged 16% across both months
- 80% increase from July to August in number of users completing
at least one transaction during the month
- Available products on the platform have increased to over
1.2bn
- Over 200 national and local press pieces on WeShop
launch
- Appointment of key hires including James Fox from TikTok
- Travel sector introduced to blend of merchants”
IamFire currently holds £4m of Convertible Loan Notes in WeShop
Holdings Limited. It also holds the right to subscribe for a
further £3.75m in CLNs. In addition, it holds a £4.5m CLN in
Community Social Investments Limited.
Richard Griffiths, Chairman of
WeShop Holdings Limited said:
“We are exceptionally pleased with the commercial progress of
WeShop since the press launch on the 4th July 2022
and our KPIs are tracking ahead of forecast. We have received
some very valuable insights from our community both directly and
from the data itself over the last 2 months and are exploiting this
information to enhance further acquisition and engagement. We
are also very encouraged by the Founder Influencer Program which we
launched where resultant engagement and GMV has been particularly
high. The whole team is working incredibly hard to optimise the
platform in anticipation of a US launch.”
The Directors of the Company, who have issued this RIS announcement
after due and careful enquiry, accept responsibility for its
content.
REGULATORY ANNOUNCEMENT ENDS
Enquiries:
Company:
info@iamfireplc.com
Peterhouse Capital Limited (Corporate Adviser):
Guy Miller: + 44 (0) 20 7469 0930
(Direct)
Corporate Broker
Lucy Williams: +44 (0) 20 7469
0930
Duncan Vasey: +44 (0) 20 7220 9797
(Direct)