Billion dollar Boom?

Not much news to report from my current share portfolio this week, although there was an interesting RNS from an indirect holding.

As previously reported, I hold shares in a company called UBC Media which will change it's name on Tuesday as it reverses in it's recent acquisition 7Digital. The enlarged group will hold 20% of Audioboom, a recently floated (by reverse takeover) social media site that describes itself as the audio equivalent of YouTube.

The RNS announces that CBS Radio Limited ("CBS") and Sky Sports Limited ("Sky Sports") have agreed to become major new content partners on Audioboom's social media platform.

This potentially sounds very exciting.

Rob Proctor, CEO of Audioboom, commented, "CBS and Sky Sports are two of the world's biggest broadcasters and we are delighted they are using our technology and platform to further utilise and share their wonderful audio content. They are two of the most significant channel partners we have signed and are a great boost to the expansion of our sport and entertainment vertical audio markets.
"CBS also gives us fantastic reach and exposure in America which is a key and rapidly expanding market for us. Agreements with world class companies such as these illustrate the potential global reach of Audioboom as it continues to build momentum and become a major social media company."

It's very early days for Audioboom, and make no mistake this is a highly speculative investment in a company that will report negligible revenues in 2014, however, given the lofty valuations of successful social media sites, and the potential to be acquired by a major player (e.g. Twitter, Facebook etc.) then success could easily mean a $1bn plus valuation, and a hefty windfall for 7digital.

Whilst both 7Digital and Audioboom are highly speculative, they are also operating in an exciting and potentially very lucrative space. I don't directly hold shares in Audioboom, but I do like the fact that through 7Digital I will have a finger in both pies.

It would be fantastic if one or preferably both companies blossom, although I am mindful of the possibility that neither may prosper. It will be interesting (and hopefully lucrative) to watch developments over the medium and long term.

On a separate note, my virtual trade in Vesuvius is pretty much flat so far, although I notice that Directors are still keen buyers with a further purchase reported on Friday, and a small tick up of around 3% in the share price.

I am adding Vodafone and Morrison to my virtual trading portfolio. Vodafone is yielding over 5% and is off it's recent highs as investors "park" there special dividends elsewhere. My buying price for Vodafone is 207p. Morrison's I mentioned in my blog 31 May. Just to emphasise that these are all virtual trades, and I'm doing this just for a bit of fun. Of course I will continue to report on my actual holdings and purchases at regular intervals as usual.

Virtual portfolio                 Price paid                      Current  price               Price sold

Vesuvius                            £4.57                             £4.58
Vodafone                           £2.07                             £2.07
Morrison                            £1.93                             £1.93