Australian-based app Tinybeans has signed ten high-profile advertising partners since acquiring Red Tricycle, the US parenting platform and family business directory.
The partners, including Amazon, Apple, Kraft and National Geographic Kids, have brought in $775,000 in advertising.
Tinybeans, founded in 2012 in Sydney by Stephen O'Young, Sarah-Jane Kurtini and Eddie Geller, closed the acqusition of Red Tricycle earlier this month for about $9.35 million. The company paid for the deal with a $2 a share placement to raise $12 million.
The buy fits with Tinybeans’ strategy of extending reach to age 13 children and accelerating growth while attracting more ad dollars from big brands and driving engagement across active users.
Tinybeans, a mobile and web-based technology platform that connects parents with trusted digital tools and resources, was named Apple’s App of the Day in the US in October 2019.
The app has a user base of 3.7 million with 1.37 million monthly active users in more than 200 countries.
The company in 2019 doubled advertising revenue to $3.5 million and lifted overall revenues 71% to $4.6 milllion.
Its brand partnerships include Lego, Haven Life, Macmillan Kids and Spin Master.
Red Tricycle reaches 2 million unique parents each month.
“We have admired Red Tricycle for some time and are delighted to acquire the business," says Tinybeans CEO Eddie Geller.
"The transaction makes compelling strategic and financial sense. TNY will have far more users with extended reach and an upgraded value proposition to big brands."
What the combined Tinybeans and Red Tricycle looks like:
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