“ASX is definitely a healthy market for tech stocks, and we want to take advantage of some of the momentum from the pre-IPO cycle, which has been quite rapid… A few years ago you didn’t have really only venture capital and private capital for access, but now there’s a new dimension that has opened up, which is a really positive thing for the industry.
The latest funding brings the amount invested in Tribe to date to nearly $ 20 million, and it claims to have facilitated the creation of over a million branded content. This has been used in over 10,000 campaigns for consumer brands in the US, UK and Australia, by over 50,000 registered content creators.
Tribe’s selling point is that it has an army of content creators, who make short videos and other content involving products. Creators publish their content in the hope of making money from it, and brands can choose what they like, more profitably than if they commissioned agencies to feed the voracious appetite of online platforms to new advertisements.
Mr Svirskis said the newly raised capital would go to product development and engineering, while retaining a good chunk of sales and marketing.
“We are always in a growth mindset and technology is at the heart of our business. I think we’ve invested $ 13.5 million to date in the product, so we’re definitely going to continue down this path, ”he said.
“Next, with sales and marketing, we want to make sure that we seize all the opportunities in the markets in which we are established. Especially in the United States, we’re just starting to scratch the surface of what’s available.
Mr Lund said he and Mr Svirskis look forward to the various challenges associated with running a publicly traded company, where the experimentation inherent in growing a start-up can be taken a closer look.
After founding Tribe, he recognized that he was better suited to product and marketing strategy and hired Mr. Svirskis, who was 34 at the time, to be its CEO. He said he had played a vital role in building a business strong enough to meet the demands of public investors.
“I think Ant is made for that personally… His learning agility is our greatest asset. I had never hired someone like that, or run a business, so I wasn’t sure what questions to ask him, so it was a huge leap of faith that I knew to be all or nothing, ”Mr. Lund.
“I handed the keys to the company and said ‘Mate, you’re my new boss’, and I’ve seen it evolve in front of my eyes over the last five or six years, in the most exceptional, and we are very confident about this aspect of the business.