Filipino Company Xurpas Is Opening a Unit in Australia
Listed local consumer tech firm Xurpas is opening a subsidiary in Australia, the company announced on Friday (February 10).
The company that specializes in digital products and services for mobile users said it intends to establish the Xurpas brand Down Under through a sales presence in the hopes of capturing a slice of the market that is “at least 10x” larger than the Philippine market.
“This is an opportunity that Xurpas has not previously tapped,” the statement read. “Xurpas will offer a range of IT services thru the new subsidiary, ranging from staff augmentation and managed services, to bespoke software development, among others.”
No other details about the planned expansion was shared.
Co-founded by Nico Jose “Nix” Nolledo, Fernando Jude Garcia and Raymond Racaza in the early 2000s, Xurpas began by partnering with telcos with mobile content that included
games, horoscopes, jokes, ring tones, logos and icons, which the telcos’ subscribers paid for. It caught the mobile wave at just the right time: by 2013 when it was ready to list in the stock market, it was pulling over P250 million in revenues.
In the mid-2010s, the company went on an acquisition spree, snapping up multiple companies wholly or in part in an effort to expand its offerings. Today, the company is engaged in mobile marketing and advertising solutions integrated in these consumer digital products and platforms for mobile users. It is also engaged in platform development and customization, system integration, mobile platform consultancy services, management of off-the-shelf application and social media related services.
Xurpas’ other primary business lines include developing and customizing IT platforms, providing system integration and mobile platform consultancy and other services comprised mainly of HR technology solutions.
But the company has struggled to remain profitable in recent years. In 2019, Racaza left his post as CEO just six months after his appointment to the position. In June 2022, Nolledo also quit his post as chairman after raising P100 million fresh capital through the issuance of new shares a few months earlier.
During the first nine months of 2022, the company reported earnings of P174.5 billion and a net loss of P12 billion.
Xurpas is currently led by chairman and CEO Jonathan Gurango and president, CFO and CIO Alexander Corpuz.