Tagged Hit Over $51 Million In 2012 Revenues
Tagged is a social discovery service that is going to turn into a mobile-first service going forward. The company has been profitable for 5 years and they are seeing a massive increase of mobile visitors. The company also announced that they hit over $51 million in 2012 revenues. The company’s virtual currency revenues are up 30% year-over-year.
Tagged is known for allowing users to play games, share tags, buy virtual gifts, and browsing profiles. The company has hit over 330 million registered users and their active users have doubled to almost 20 million. In the past couple years, Tagged acquired companies like Urbantag, hi5, Topicmarks, and Digsby.
Tagged’s mobile traffic increased 56.5% in 2012 and ended the year with 37% of their daily active users coming from mobile devices. Tagged launched an iPhone application in July 2010 and it was downloaded over 100,000 times in its first week. The company launched an Android app less than a year later and now they have more Android users than iPhone users. The company also has a mobile-optimized version of their website.
As the company grew, Tagged expanded their San Francisco headquarters from 15,000 sq. ft. to 40,000. The company raised $23.7 million from investors like Lighthouse Capital Partners, Comerica Bank, Mayfield Fund, and Reid Hoffman.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry