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Kogan Turns To Twitter Instead Of ASX

Yesterday, Ruslan Kogan, the CEO of Kogan.com, turned to Twitter to make a trading update about the online sales figures of recently acquired furniture company Matt Blatt.

Traditionally, such updates are usually posted on the ASX.

Kogan tweeted: “Yesterday was a record day of online sales in the entire history of Matt Blatt. Over $100k and 450% up on the first full day in May. So proud of our team for this incredible turnaround and execution. Matt Blatt now has over 100k+ products and we’re just getting started.”

Kogan.com acquired the Australian, family-run furniture company Matt Blatt for $4.4 million in May.

Following Kogan’s tweet, Kogan.com’s share price rose 2%, though this may not be the tied to the Matt Blatt announcement.

Kogan.com’s share price has increased significantly since the COVID-19 crisis, up approximately 363% since March.

In June the company reported year-on-year growth of 100% in April and May. That same month Kogan.com announced it had successfully raised $100 million.

As of 11.20am today, Kogan’s share price was down 0.3% at $17.32.

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