ZURICH, April 5, 2018 /PRNewswire/ --
- Annual Report 2017 approved
- All members of the Board of Directors re-elected
- Capital increase approved
At the Annual General Meeting (AGM) of Balluun AG – a leading international social e-commerce provider – on March 29, 2018, shareholders accepted all proposals of the Board of Directors. 80 shareholders attended the AGM and represented with 31'625'672 shares about 51.07 % of the share capital of Balluun AG.
Chairman Ariel Frank Lüdi said: "2017 was a good year for Balluun. We achieved our strategic goals and, at around CHF 1.1 million, for the first time in Balluun's history, achieved seven-digit sales based on annual recurring revenue (ARR). Balluun's global growth will continue to be the key focus in fiscal 2018. The successful development in recent months has shown that Balluun's white label platforms have been attracting great interest in the international B2B market."
Roland Kümin, CEO, added: "Balluun has a strong product pipeline. Among other things, we relaunched our basic technology "Balluun365" and introduced new solutions for various industries with additional marketplaces.
The Annual General Meeting of Balluun AG unanimously approved the annual report and the audited financial statements for the 2017 financial year. Furthermore, the shareholders granted discharge to the responsible persons with 99.3% of the votes. All members of the Board of Directors were re-elected by a large majority until the end of the next AGM and Ernst & Young AG, Zurich, were confirmed as external auditors for fiscal year 2018. Furthermore, the Annual General Meeting of Balluun AG unanimously approved the ordinary capital increase by a maximum of CHF 100,000 to a maximum of CHF 719,216.13 as proposed by the Board of Directors.
Balluun – Powering the Future of Business Networks
The leading provider of B2B social e-commerce worldwide. Since 2012 we have been promoting B2B marketplaces around the world 24/7/365 by launching industry-specific digital marketplaces which directly connect wholesalers, retailers, suppliers, brands, products and consumers.
Our platform allows trade-show organizers and trade associations to easily and cost-effectively create and scale their own digital marketplaces to expand their business by engaging their industry-specific audiences digitally. Our partnership model allows these organizations to build a competitive advantage with a low-cost investment and a high revenue share opportunity.
From our headquarters in Zürich to our development center in Silicon Valley and our offices in New York, London, Lausanne, and Hong Kong we empower business-to-business communities, commerce and services worldwide providing patented and established technologies, an open and scalable Cloud solution as well as efficient marketing, sales and customer success services.
More about Balluun: www.balluun.com
SOURCE Balluun AG