WeCommerce Signs Definitive
Agreement to Combine with Tiny
The combination of Tiny and WeCommerce creates a well-capitalized technology holding company managed by a leadership team with a strong track record of building and acquiring profitable companies, driving organic growth, and generating free cash flow for future acquisitions.
The proforma newly combined business of WeCommerce and Tiny (which will retain the " Tiny " name) had approximate revenues of $149 million and adjusted EBITDA of $49.7 million for the period ending December 31, 2021 . Each of the combined businesses continued to experience growth in calendar 2022, which results will be published in the second quarter of 2023 after the completion of their audited financial statements.
An overnight success, 15-years in the making.
We started our business in 2007, and before we knew it, we had hundreds of employees across a bunch of companies. Along the way, a variety of private equity and venture investors approached us, but it was always a miserable experience. We asked ourselves why other buyers dragged out deals for months and renegotiated over and over again. It was horrible.
Then we read about how Warren Buffett does billion-dollar deals quickly by keeping the process painless and promising founders to take good care of their businesses. Nobody had done this for technology companies like ours, so we said "screw it" and decided to do it ourselves using Buffett's simple approach.
In 2014, we stopped starting companies and started buying them using a simple one-month process, then leaving the companies alone to do their thing. It turned out we were right, founders loved it.
We haven't looked back since…
Tiny Board of Directors
Andrew Wilkinson is the co-founder of Tiny. Prior to founding Tiny, Mr. Wilkinson founded MetaLab, a design agency, which provided the underlying foundation for his ability to identify future companies with growth potential. Today through Tiny, Mr. Wilkinson oversees a group of diverse businesses with a robust staff generating hundreds of millions in revenue.
Chris Sparling is the co-founder of Tiny. At Tiny, Mr. Sparling helped acquire and scale more than 30 businesses, including Dribbble, Meteor Software Holdings Ltd., Pixel Union, and WeWorkRemotely. Mr. Sparling is also the co-founder of WeCommerce and led the acquisitions of Pixel Union, Out of the Sandbox, WeCommerce Operations Ltd. (formerly Rehash Ltd.), Foursixty Inc., and Stamped Technologies Pte. Ltd. Before co-founding Tiny, Mr. Sparling was the Chief Financial Officer of MetaLab, a design agency, and Pixel Union, an early partner to Shopify Inc. providing premium themes for merchants.
Shane Parrish, is the founder and CEO of Farnam Street Media Inc., a privately held media company. Mr. Parrish is also the CEO of Syrus Partners Inc., a private investment organization. He received his Bachelor of Computer Science from Dalhousie University in 2001, and his MBA from Royal Roads in 2009. Previously he worked for the Communications Security Establishment in various capacities from 2001 until 2016. Mr. Parrish has significant operating and financial experience through his firm’s ownership and diverse collection of private investments.
Carla Matheson is a (CPA, CA) with over 10 years of experience in a variety of public and private industries, specializing in business development, mergers and acquisitions, and financial reporting. She is the founder of a financial consulting practice, and an active investor and co-founder of a number of private companies. She serves on the board of Nano One Materials Corp (TSX-NANO).
Tim McElvaine serves as President of McElvaine Investment Management Ltd. Tim has served on the boards of Glacier Media Inc. (2014-2019), Rainmaker Entertainment Inc. (2007-2016), Humpty Dumpty Snack Foods (2005- 2006) and Sun-Rype Products (2001-2005). Tim is also both a CPA and CFA.