Victoria, British Columbia--(Newsfile Corp. - February 29, 2024) - Tiny Ltd. (TSXV: TINY) ("Tiny" or the "Company") is pleased to announce that WeCommerce Operations Ltd. ("WeCommerce"), an indirect wholly owned subsidiary of Tiny has acquired all of the issued and outstanding shares of Repeat Inc. (the "Acquisition"). The Acquisition advances WeCommerce's strategy to build, acquire and invest in the world's top E-Commerce technology businesses. The Acquisition qualified as an "Exempt Transaction" within the meaning of TSX Venture Exchange Policy 5.3 and terms of the transaction were not disclosed.
Repeat is a leading retention AI marketing software application serving primarily enterprise e-commerce merchants. Repeat monitors key lifecycle moments to help merchants create personalized campaigns and simplified workflows to improve customer retention. The company was founded in 2018 by Kim Stiefel and Sarah Wissel and was backed by a number of venture investors including Battery Ventures and Harlem Capital. Repeat's financial results will be consolidated for the purposes of financial reporting in Tiny's Q1 Financial Statements.
Management Commentary
We are very excited about adding Repeat's team, technology, and expertise into our existing portfolio of e-commerce software applications. The acquisition aligns perfectly with our vision to invest and operate in what we see as key segments of the market. Kim and Sarah have built an impressive retention personalization engine that drives meaningful revenue growth for its existing merchant base. Based on the existing dataset of many of our applications, we see natural levers to enhance Repeat's personalization engine, while at the same time leveraging Repeat's deep expertise with marketing automation flows to accelerate development at our other portfolio companies.
About Tiny Ltd.
Tiny is a leading technology holding company with a strategy of acquiring majority stakes in wonderful businesses. Tiny has three core business segments, Beam, WeCommerce and Dribbble, with other standalone businesses including a private equity investment fund.
Beam, and its subsidiary companies including MetaLab, helps start-ups to Fortune 500 companies to design, build and ship premium digital products for both mobile and web. The Company's capabilities as an end-to-end product partner provide clients with intimate insight into end-user behavior, allowing for a thorough, strategy-led approach to product design, engineering, brand positioning and marketing.
WeCommerce provides merchants with a suite of ecommerce software tools to start and grow their online store. Our family of companies and brands include Pixel Union, Out of the Sandbox, Archetype, Foursixty, Stamped, KnoCommerce, Clean Canvas and Orbit Apps. As one of Shopify's first partners since 2010, WeCommerce is focused on building, acquiring and investing in leading technology businesses operating in the Shopify partner ecosystem.
Dribbble is a creative network and community that design professionals use to meet, collaborate, and showcase their work. Dribbble also hosts an online marketplace for graphics, fonts, templates, and other digital assets.
Other standalone businesses include several software and internet companies and the operation of a private equity fund where the Company serves as the general partner (the "Tiny Fund"). The Tiny Fund commenced operations in August 2020 and has total committed capital of US$150 million.
For more about Tiny, please visit https://www.tiny.com or refer to the public disclosure documents available under Tiny's SEDAR+ profile at www.sedarplus.ca.
For more information about the Company, please contact:
David Charron
Chief Financial Officer
Phone: 416-418-3881
Email: david@tiny.com
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and forward-looking statements in this press release includes, but is not limited to, information and statements regarding: the Acquisition being accretive to WeCommerce's consolidated revenues; that the Acquisition will help accelerate growth within the WeCommerce apps portfolio; the potential synergies associated with the Acquisition and the ability of WeCommerce to drive free cash flow growth to Tiny.
Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to various risks as set out herein.
Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the potential impact of the consummation of the Acquisition on relationships, including with regulatory bodies, stock exchanges, lenders, employees and competitors; the diversion of management time on the Acquisition; assumptions concerning the Acquisition and the operations and capital expenditure plans of the Company following completion of the Acquisition; changes in e-commerce industry growth and trends; changes in the business activities, focus and plans of the Company and the timing associated therewith; the Company's actual financial results and ability to manage its cash resources; changes in general economic, business and political conditions, including challenging global financial conditions and the impact of the novel coronavirus pandemic; competition risks; potential conflicts of interest; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and the other risk factors more fully described in the Company's most recent MD&A as well as the list of risk factors in the Company's management information circular dated March 6, 2023 available on SEDAR+ at https://www.sedarplus.ca under the Company's profile.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Source: Tiny Ltd.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199899
SOURCE: Tiny Ltd.
