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WHY THE TINYBEANS (ASX:TNY) SHARE PRICE IS JUMPING 16%

boardsi has been working with Tinybeans Group Ltd on recruiting non-executive directors. After 6 + months and many qualified executives Tinybeans hired a boardsi Executive member to join their board of directors as a non-executive director. Tinybeans was searching for executives with the skill set to increase its footprint in the market. Kathy Mayor (boardsi executive member) brings that skill set along with Andrea Cutright (not a boardsi member) both joined as non-executive directors.

 

“Family photo sharing app Tinybeans Group Ltd‘s (ASX: TNY) shares have risen by 15.87% so far in today’s trading. At the time of writing, the Tinybeans share price is trading at $1.46 after closing yesterday’s session at $1.26. Today’s moves follow an announcement by the company this morning that it hired two new executives in its United States operations. The hires reinforce the importance to the company’s business model of the US market, which is where 92% of its revenue comes from. According to the release, leading US executives, Andrea Cutright and Kathy Mayor, will join the company as non-executive directors commencing immediately. Both Ms. Cutright and Ms. Mayor have substantial experience in digital marketing – the exact skillset Tinybeans needs to increase its footprint in the market.”

 

Tinybeans was founded in Sydney in 2012 by Stephen O’Young. It’s a family photo sharing app that helps parents capture and organise their children’s life using photos, video, and written messages One big selling point for the app is that it has privacy features that allow parents to retain legal ownership of their content, unlike other larger social media sites. According to the company, it has a user base of more than 4.65 million people spanning over 200 countries. The app is available in both Android and iOS. Despite this wide user base, Tinybeans’ revenue is predominantly generated in two countries – the US and Australia. As mentioned, the US makes up 92% of the company’s revenue, while Australia contributes most of the remainder. The company employs both a premium subscription and advertising revenue model.

 

Kathy Mayor on Bloomberg

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