Stock exchange master services announcement sees price soar
Promising Australian delivery and tracking IT listing GetSwift has seen its share price more than double after announcing a deal with Amazon.
Before entering a trading halt on Friday, GetSwift’s price was $1.96 a share but at noon today it was sitting at $4.14.
With former Melbourne AFL player Joel Macdonald a driving force, the company listed almost a year ago, starting at 27 cents.
“GetSwift is pleased to announce that it has signed a global master services agreement with Amazon,” the company says in its announcement.
“The extent of the services to be provided and the revenues to derived will be generated from specific transactions agreed with Amazon pursuant to the master services agreement.
“Due to the terms of the agreement the number of deliveries this agreement may generate is currently determinable.”
Meanwhile, GetSwift has appointed seasoned Telstra executive Nevash Pillay to its board, saying that at Telstra she has played “an integral role in driving strategic alliances, the channel and transforming the business go-to-market strategy”.
“She brings a very important set of up to date skills experiences, point of view and networks that will be an important component of the forthcoming company roadmap,” GetSwift executive chairman Bane Hunter says