Online baby book Tinybeans shoots up 17pc after Walmart joins as ad client
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Online baby book Tinybeans shot up 17 per cent Tuesday morning after announcing US retailer Walmart is advertising on its platform.
Tinybeans will run ads from Walmart, Sam’s Club and Jet.com on its mobile app and web platform.
There was no mention of how much Walmart planned to spend or what the campaigns entailed.
“With unparalleled brand awareness and value in the US, Walmart’s presence signals to other retailers and the advertising community at large that the Tinybeans audience is a growing and important part of their marketing spend,” Tinybeans told investors.
The shares opened at 65c on Tuesday and jumped to 70c in mid-morning trade.
It’s the latest in a string of newsflow for Tintbeans. The company has recently announced campaigns with educational toy maker People Toy Company and baby carrier maker LILLEbaby.
Tinybeans, founded in Sydney in 2012, had 798,645 active users at the end of December.
Revenue for the half year was $747,674. The company posted a loss of $2.27 million.