Net Gaming AB, an iGaming affiliate, changed its name to Acroud AB. This move is considered part of several strategy updates happening since Robert Andersson took over as CEO this year.
Andersson, former media chief of lead generation company Catena Media, was brought in after a decline in year-on-year revenue and profits in 2019. His appointment was intended to refocus the business and lead it to growth.
Revenue into the first quarter of 2020 continued to decline, with the company reporting a 21.3% decline for the three months to March 31, 2020. But according to Andersson, a refocused business had enough untapped potential to grow from Q2 and onwards.
The name change was announced together with the company’s new manifesto, which lays out its approach to doing business.
In accordance with its new business strategy, the new manifesto states that the business is “adapting and [is] here to disrupt and claim what hasn’t been claimed.”
Andersson commented on the announcement saying: “I am proud to work with so many talented employees as we now take a real step towards creating strong growth in an international and highly expansive industry.”
The company is hoping to return to growth by providing high quality comparison sites to its customers.
It will be focusing on some key markets, expanding its websites organically through user engagement and launch into new verticals all the while improving its technological capabilities.