HipCricket, a Washington-based mobile marketing company, has raised £8.3 million on AIM at a placing price of £2.62 per share. The initial public offering (IPO) gives the company a market capitalisation of £75.3 million.

HipCricket, a Washington-based mobile marketing company, has raised £8.3 million on AIM at a placing price of £2.62 per share. The initial public offering (IPO) gives the company a market capitalisation of £75.3 million.

The company, which is not quoted on the US markets, says the IPO will ‘fund organic growth in the short to medium term’.

Ivan Braiker, CEO of HipCricket, says: ‘With the US mobile marketing industry forecast to grow to around $11.1 billion by 2011, HipCricket is well positioned in this fast-growing market.’ No plans have been revealed for large-scale expansion outside the US.

Named after a little-known British slang term for a mobile phone, HipCricket was established in 2004. Its core clients are broadcasters, primarily radio and TV stations such as Clear Channel, Fox and NBC.

The company offers its clients the technical tools to allow marketing to mobile phones, and helps to interpret the results of their campaigns. It also provides creative support and training.

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