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Software & services

MySQUAR user numbers jump by 17%

The group, which recently floated on AIM, now boasts 907,000 users, up from 775,000.

MySQUAR (LON:MYSQ), the Myanmar-language social media specialist, added 17% to its user base in June.

The group, which recently floated on AIM, now boasts 907,000 users, up from 775,000 in its admission document.

Eric Schaer, chief executive, said: "It is exciting to see the increase in user numbers of MySQUAR's products over the past month, which continues the excellent growth in users we have seen during 2015.

“This growth, coupled with our recent AIM listing, provides a strong foundation for the company's future success."

Myanmar, formerly known as Burma, only emerged four years ago from half a century of military dictatorship.

MySQUAR is the country’s first and only social network and is aiming for 1.5mln users by the year-end.

The company raised £1.67mln in May through a listing on the junior market at 10p each, giving a market capitalisation on float of £18.5mln.