HearMeOut Ltd [ASX:HMO] may be joining the top of the social media ladder. This morning their shares rose by +17.39%.
Their market cap sits on $8.879 million as their shares have been going through increases and decreases during 2017 and early 2018.
The social media brand has had a very inconsistent stock value since 2016, as they were at their lowest on $0.0720 for a small part of the year.
Late last year there were at the highest ever, sitting at a comfortable $0.2000 then dropping and rising inconsistently shortly after.
What caused the HearMeOut share price to rise?
Not only do they have a catchy title, HearMeOut has smartly placed themselves in the social media market place by implementing new gimmicks to their social app.
It allows users to share and record their voice while building a portfolio, the app heavily focuses on putting your talent out there giving aspiring artists a platform. Anybody can be discovered across the apps functionalities.
Early last month, HearMeOut partnered with DSP group (a wireless communications organisation). The two companies launched HOOP, a device that goes hand to hand with the HearMeOut app.
HOOP can be used in cars that don’t have access to connected car tech. It can be connected to the steering wheel of any car, allowing drivers to safely use the device while driving on the road. This vastly increases HearMeOut’s accessibility and increases the company’s recognition.
HearMeOut has also entered the list ‘top 50 social Network apps on the Apple store’. This is a critical milestone and can prove to work in their favour.
They have also exceeded over 500,000 downloads in the google play store late last month!
What will 2018 bring for HearMeOut?
It should come to no surprise that HearMeOut wish to butt heads with social media titans, Snapchat, Facebook, LinkedIn and Instagram. Going up against the likes of Facebook is daunting enough, not to mention risky.
The fact that they placed in the top 50 shows that they’re keen to knock the current leaders off the ladder.
HearMeOut plans to release a scheduling format to their app. The scheduling feature will allow users to schedule their submissions to be uploaded at selected times instead of instantly.
HearMeOut is pushing the focus on talent recognition and user exposure across their platform. There is no news on celebrity endorsements, but overtime this all could change. There is a lot of potential for this app to take off.
2018 should prove to be an interesting an interesting year for HearMeOut.
Publisher, Markets & Money
PS: Things are looking up for HearMeOut, however the market is unpredictable as a market crash or even a recession could be right around the corner and put a spanner in the app company’s works. Greg from Markets & Money has put together ‘The Aussie Recession Survival guide’ for those who want to prepare for the worse.