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- Family tech developer Tinybens (TNY) has nabbed $1 million in ‘big-brand’ advertising contracts since the start of last month
- The communications services company, which provides a platform for parents to capture and share family photos and videos, says it’s now inked deals with two of the “big four technology companies”
- So far, TNY’s partners include Apple, Dorel Juvenile, Google and Walmart
- Breaking down the figure, Tinybeans says 30 per cent of the contacts have been inked with existing brands, while the other 70 per cent are with brand new signups
- Significantly, the new contracts have doubled Tinybean’s forward-booked advertising contracts, boosting their value to $2.3 million over the remainder of 2020
- Following the news, Tinybeans shares shot up 11.1 per cent in midday trade
- Stock is priced at 90 cents per share
Family tech developer Tinybens (TNY) has nabbed $1 million in ‘big-brand’ advertising contracts since the start of last month.
The communications services company, which provides a platform for parents to capture and share family photos and videos, says it’s now inked deals with two of the “big four technology companies.”
So far, TNY’s partners include Apple, Dorel Juvenile, Google and Walmart.
Breaking down the figure, Tinybeans says 30 per cent of the contacts have been inked with existing brands, while the other 70 per cent are with brand new signups.
Significantly, the new contracts have doubled Tinybean’s forward-booked advertising contracts, boosting their value to $2.3 million over the remainder of 2020.
In January, TNY acquired digital media brand Red Tricycle, a web platform with over two million users that provides activity ideas to parents with young families. At the time, the acquisition was set to double its revenue to over $10 million.
Now, Tinybeans says its tech platforms, combined with Red Tricycle and social channels, reach 25 million viewers every month.
Tinybeans CEO Eddie Geller says he’s “thrilled” with the new contracts, especially in a season where advertising in the U.S. is typically slower.
“Over $1 million dollars signed in recent weeks is a new company record and reinforces that our enhanced value proposition following the successful integration of Red Tricycle is providing more value to our partners than ever before,” Eddie explained.
“Pair that brand safety with unique first-party data and some of the most engaging custom content and it’s safe to say this is only the beginning of what we believe will be the first of many announcements of this magnitude,” he continued.
TNY is expected to release its full FY20 results on Friday, August 28.
Following the news, Tinybeans shares shot up 11.1 per cent in midday trade. Stock is priced at 90 cents per share at 1:32 pm AEST.
