The Deal: Australian photo-sharing app Tinybeans (ASX: TNY) is acquiring US-based Qeepsake for US$2.7 million ($4.1 million AUD) in an all-stock deal, instantly growing its subscriber base from 51,000 to 90,000 — an 80% jump.

Why It's Smart: The acquisition costs just $67 per retained subscriber, far below Tinybeans' organic marketing costs. Combined revenue hits $8.9 million — an 85% increase over Tinybeans' standalone 2025 result.

The Leadership: Tinybeans is chaired by James Warburton, former CEO of Seven West Media. Qeepsake founders Jeff and Stephanie McNeil started the company in 2015 to preserve memories of their children's lives.

What Changes: Qeepsake's journaling features will be integrated into Tinybeans' platform through 2026, targeting retention of 40,000 high-value users. The deal accelerates Tinybeans' path to profitability without spending cash.

In the world of parenting apps, two names have dominated the family memory space: Australia's Tinybeans and America's Qeepsake. Parents used them to preserve precious moments, create digital scrapbooks, and share milestones with family.

Now they're becoming one company — and it's a masterclass in smart acquisition strategy.

Tinybeans just announced it's buying Qeepsake for US$2.7 million (about $4.1 million AUD) in an all-stock transaction that nearly doubles its subscriber base overnight. But the real genius isn't in the size — it's in the price.

Here's why this deal is getting attention from business analysts:

Subscriber Acquisition Cost: The effective cost per retained subscriber is roughly $67. That's significantly below what Tinybeans typically spends on marketing to acquire similar subscribers organically.

Think about it: Instead of spending millions on Facebook ads, Google campaigns, and influencer partnerships to slowly build a user base one person at a time, Tinybeans just bought 49,000 paying customers in one transaction.

Revenue Multiple: The deal is priced at just 0.66 times Qeepsake's FY25 revenue. That's incredibly cheap by tech acquisition standards, where companies often pay 2-5x revenue multiples.

No Cash Required: This is an all-scrip (stock) transaction. Tinybeans isn't writing a check — it's issuing shares. That preserves precious cash for operations while still completing a transformational deal.

"The transaction delivers substantial growth without the need for cash outlay and reflects the disciplined execution of our strategy to build a larger, more efficient subscription business," said James Warburton, Tinybeans' chairman.

James Warburton........

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