SocialGo reduces its losses

SocialGo has unveiled a software update which gives the social network builder a closer integration with Facebook and allows its users to create a better featured and bespoke version of a Facebook group. SocialGo, which raised £1.63m of capital from two share placings last year, reported revenues of £734,000. Its operating loss for the year was £1.18m, down on a pro-rata basis from a £1.07m loss in the nine months before.