SocialGo – the DIY social network

Panmure’s ever-vigilant analyst George O’Connor notes the FY results of what appears to be the first social media SaaS pure-play on the London Stock Exchange, AIM-listed SocialGo (“part of the burgeoning Silicon Roundabout in London”). There’s 38 pages of detail in the results, but don’t bother unless you are deadly keen, as it’s still very much a start-up. However, its £0.5m in revenues and £1m net losses are ‘worth’ over £13m, so there’s a lot of faith in this stock (there was very little cash in the bank at y/e). SocialGo is all about building your very own social network website (sort of 'Facebook meets Ikea'). Very interesting - we will keep an eye on this one.