San Diego Business Journal

Mobile Marketing Firm Reports Net Loss, New Name

By Mike Allen Thursday, August 16, 2012

CommerceTel Corp., a San Diego provider of mobile marketing technologies, reported a second quarter net loss of $991,545, compared with a net loss of $997,985 for the like quarter of 2011.

Revenue for the quarter was about $1 million, compared with $553,108 for the like quarter of last year.

For the six months, revenue came in at $2 million, compared with $694,000 for the first half of 2011.

CEO Dennis Baker said of the 5,000 customers the company has, it gained about 1,500 in the last 60 days. Among some of the largest are CNN, Disney, Sony Pictures, Verizon, USA Network and numerous sports franchises. The company said it invented C4, “an enterprise-grade platform empowering brands to engage mobile consumers via multiple channels.”

During the second quarter, the company said it won several major contracts and campaigns, including a three-year license to the U.S. Tennis Association, the Trump Organization’s Miss Universe Organization, and mobile fan engagement during the 2012 NCAA Final Four basketball tournament.

Earlier this month, CommerceTel said it filed a document with the state of Nevada to change its corporate name to Mobivity Holdings Corp. The process entails merging the company’s wholly owned subsidiary into itself without shareholder approval, as permitted by Nevada law.

The name change takes effect Aug. 22, when a new website will be launched, www.mobivity.com.