WHAT IS IT?
Forbidden Technologies has created a technology platform to make it easier for companies, including those which organise esports leagues, to make video content available over the internet.
They can upload videos and edit it, and it is easier for other companies such as digital video channels and broadcasters, to access the content.
A chance to surf the surging popularity of esports could be huge, says AJ Bell’s investment director Russ Mould.
WHAT’S THE LATEST?
This summer it announced that US news site TownNews.com was extending the use of its Blackbird technology to one of its ‘major partners’. The partner will be providing news in towns and cities across 11 states.
Forbidden is also working with an unnamed esports content creation company, in Las Vegas, and UK esports firm Gfinity.
WHO BACKS IT?
Founder and director of research and development, tech entrepreneur Stephen Streater, is the largest shareholder with 21.8 per cent.
Chief executive Ian McDonough is in the top 10, as is chairman David Main and long-standing software architects Brian Brunswick and Andrew Slough.
Asset managers such as Miton, Canaccord Genuity Wealth Management, Schroders, BMO Global and Alliance Trust have invested.
WHY YOU SHOULD INVEST
A chance to surf the surging popularity of esports could be huge, says AJ Bell’s investment director Russ Mould. Its £17m market value ‘may look small if it gets a slice of the esports action’, he added.
AND WHY YOU SHOULDN’T
The profit issue is a big ‘if’ for Forbidden.
Mould says: ‘It has been quoted since 2000, has hardly ever made a profit and last year, after 17 years as a public company, it still recorded revenues of just £750,000 and a net loss of more than £2m.’