Influencer tech platform Tribe eyes international expansion entry after $5m capital raising
Influencer marketing technology platform Tribe is eyeing international expansion after a $5.4m round of capital raising from investors, with Singapore likely to be the first port of call.
The company, founded by TV and radio personality Jules Lund, has explored and compiled data on 53 markets with the UK, Germany, France, Ireland and Brazil also high on the priority list.
The capital raising, which brings the total investment in Tribe to $8m, was handled by Sydney venture capital fund Exto Partners while existing investors and wealthy individuals have also come on board.
The problem is that massive competitors, that have far more talent signed, are based in the US, own the large deals, and are expanding into Asia. Hugely crowded space with some whales already, and some smaller players already dropping out.
Who puts $8m into something that only earnt $200k (before costs) this year? Must have special potential.
LOOKS LIKE THE ACCOUNTANT DOESNT KNOW ABOUT BUSINESS MODELS AND ‘EXIT STRATEGIES’ THOSE MONSTERS = BUYERS!!
ANOTHE AGENCY HASNT HAD MUCH EXPERIENCE IN INVESTING IN THE DIGITAL SPACE.