Unless otherwise stated, all amounts are in U.S. dollars.
VerticalScope Holdings Inc. , a technology company that has built and operates a cloud-based digital platform for online enthusiast communities, announced that its total monthly active users (MAU) in Q1 2022 were a record breaking 113.4 Million, an increase of 12.6% compared to prior year supported by momentum from acquisitions made in Q4 2021.
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“We are very pleased with the growth we are experiencing in the business and the scale our platform continues to build as we execute our growth strategy,” commented Rob Laidlaw, Founder and CEO of VerticalScope. “Surpassing 113 million MAU is a great milestone for VerticalScope. In line with our expectations, organic MAU declined in Q1 2022 by 4.6% compared to the prior year due to increased competition for user attention from the war in Ukraine, and some unwinding of pandemic-induced traffic patterns that drove impressive numbers last year.”
VerticalScope also announced that it made eight acquisitions of communities in Q1 2022 for total consideration of $1.2 million and covering interest categories including music, gourmet cooking, photography and Tesla vehicle owners. Since June of 2021, VerticalScope has completed 29 acquisitions and deployed over $100 million of capital.
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