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ShareRoot Ltd attracts new substantial shareholder who has accumulated a 6.8% stake

Melbourne-based investor Antanas Guoga has made two recent share purchases with a total value of $146,000.
Increasingly high stacks of coins
ShareRoot has recently wrapped up a $780,000 placement

ShareRoot Ltd (ASX:SRO) has a new substantial shareholder in Melbourne-based investor Antanas Guoga who has accumulated a 6.8% stake in the consumer data security provider.

Guoga reached this status with two recent share purchases with a combined value of $146,000.

Investor now holds 106.8 million shares

On December 11, 2018, the investor acquired 44 million shares valued at $132,000 which followed the acquisition of 2.8 million shares in another transaction on September 28.

He now holds 106.8 million shares in Silicon Valley-based ShareRoot.

READ: ShareRoot adds three brands to MediaConsent pilot program

The company last month announced that it had expanded beta-testing of its MediaConsent website permissions platform to three more international brands in the media and retail industries.

The pilot program has now enrolled more than half its target, as the newcomers join existing participants in staying compliant under new consumer data and privacy laws.

These laws include those set by the European Union.

New pilot program participants

Two new pilot program participants are existing ShareRoot clients while the third is an existing agency partner.

ShareRoot is expecting the try-outs will lead to the development of a fan base among the piloters' end-user client base.

The first brand is a US-based sports nutrition supplement company recruited by an existing agency partner while the second is a US multinational corporation with warehouse clubs for members that has added another international region.

ShareRoot’s third new brand is a client and entertainment company that identifies shareable videos then licenses out the content or puts it in its own video productions.

READ: ShareRoot adds fourth revenue stream with acquisition of LA game developer Ludomade

The company also recently announced it was taking over Ludomade Inc, an LA-based game development agency it had been working with for three months on an integration.

ShareRoot tipped the acquisition would add to its revenue base and revealed the Ludomade agency has Warner Brothers, Sony Pictures, Starz, USA Networks as clients.

The consumer data security provider also wrapped a small placement to high-quality investors valued at $780,000.

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