It's been little over a year since Tinybeans listed on the ASX and now the company, an 'online scrapbook' where parents can securely share and save memories of their kids, has achieved record growth.
In a preliminary statement to the market, the company revealed a 63 per cent revenue increase over FY17 to hit a total of $1.78 million in FY18.
The fourth quarter alone represented a 195 per cent increase on the prior corresponding period, and a 43 per cent increase on 3Q18 achieving a total revenue of $582,000.
Tinybeans CEO Eddie Geller says the company was buoyed by impressive growth in advertising revenue, after it booked several high-profile advertisers throughout FY18 including The Walt Disney Company, Walmart, Macy's and General Motors.
"We are delighted to report a record performance for Q4 and FY2018," he says.
"We are encouraged by our growth in user numbers to over 2.5 million registered users and the complementary increase in advertising revenues as our key partnerships begin to deliver."
The company is still in its relative infancy on the ASX and Geller says its current focus is to build strong connections with its customers and reach profitability.
Tinybeans was founded in 2012 by Sydney entrepreneurs Sarah-Jane Kurtini and Stephen O'Young, creating a platform where parents and families could share and save the biggest milestones for their kids in a more secure way than traditional social media.
As a seasoned entrepreneur and angel investor, Geller wasted no time joining forces with the duo after meeting them through the Pushstart Incubator in 2012.
The fledgling Sydney-based business blossomed under Geller's leadership and bootstrapped toward its first capital raising round in July 2014.
By the end of 2016, the business was cashflow positive and the trio decided the time was right to go public.
Tinybeans redefined the concept of the 'mum and dad investor' when an army of enthusiastic parents and users of the platform helped the company raise $6.5 million on IPO.
With an impressive group of advertisers on board, collectively contributing over half of its revenue, Tinybeans is now working on becoming a household name in the US market from its New York headquarters.
In the year ahead, Tinybeans plans to accelerate its advertising and data revenue streams by integrating new ad partners, adding new ways for members to engage with the app and launching new placements for sponsors.Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.
Business News Australia
Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support