Young entrepreneurs to watch in 2017: Timothy Armoo, Fanbytes
The 22-year-old social media guru helping big brands to optimise their advertising presence on Snapchat with the "world's first" service of its kind
Name: Timothy Armoo
How many people do you know that started a successful company before their 15th birthday?
Timothy Armoo launched his first business – a fast-growth tutoring company – at the age of 14. He went on to learn coding and build a number of websites before launching his second success enterprise aged 17, which he sold to a large US media group 11 months later.
It was in 2015 that Armoo founded his current business with Ambrose Cooke. Having observed the way his cousin was influenced by social media personalities, Armoo saw that photo and video sharing app Snapchat had huge potential for genuine audience engagement, and spotted a gap in the market for a company that would help brands tap into this.
This realisation led to him and Cooke launching London-based Fanbytes: a video advertising platform which enables companies to engage with large audiences by creating and sharing optimised videos on Snapchat.
After self-funding the initial layout, Armoo and Cooke raised funding from investors to grow the venture. Now, the business generates revenue from long-term partners through a retainer model and shorter-term clients through a cost per view model, with Fanbytes’ publisher receiving a portion of this.
As “the world’s first” Snapchat advertising optimisation service, Fanbytes has attracted a number of high-profile clients including GoPro, Disney and FC Barcelona footballer Ronaldinho. The business has also recently entered into partnerships with several UK media agencies.
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With the start-up investing heavily in growth and forecasting £1m turnover for 2017, the future looks bright for Armoo and his innovative platform – what he hopes will some day become “the WPP for Generation Z”.
So, does Armoo think starting a business young has played to his advantage? Well, the digital entrepreneur says that being young has allowed him to be experimental, with his age lending him “permission to be as outrageous as possible and cloak it under youth”.