Thrive Tribe Appoints New CEO to Drive Kumu E-Commerce Growth

Leadership Change Signals New Growth Phase

Thrive Tribe Technologies Limited (ASX: 1TT) has taken a decisive step towards scaling its health and wellness technology platform with the appointment of Jade Spooner as Group CEO, announced shortly after the December quarter ended. The leadership change follows a rigorous search focused on securing a seasoned executive with deep expertise in e-commerce, social media, and digital business growth. Spooner’s background in scaling digital ventures, particularly within the health and wellness sector, positions her to spearhead the commercialisation of Thrive Tribe’s flagship platform, Kumu, and to explore synergistic opportunities in adjacent markets.

Strategic Pivot to E-Commerce and Payment Solutions

During the quarter, Thrive Tribe undertook a comprehensive strategic review that has sharpened its focus on the Kumu e-commerce marketplace and the integration of a payment gateway. This pivot reflects an ambition to deepen user engagement and monetisation capabilities within its digital ecosystem. The company is actively analysing market trends and customer insights to refine its product offerings and identify emerging technologies that can enhance its value proposition. Under Spooner’s leadership, Thrive Tribe aims to accelerate innovation and strengthen its competitive positioning in the fast-evolving health and wellness technology landscape.

Slik Investment Achieves Profitability Milestone

Thrive Tribe’s 6.67% stake in Slik has proven to be a valuable asset, with the investment reaching profitability in Q4 2024. Slik reported an annual recurring revenue (ARR) of USD 720,000, underpinned by strategic partnerships including Mercer, which accounts for 25% of its client base, and high-profile clients such as Copa Airlines. The integration of artificial intelligence into Slik’s platform has enhanced its service offering, creating upselling opportunities and attracting new enterprise clients. This milestone validates Thrive Tribe’s investment strategy and provides a promising revenue stream as it continues to develop its core business.

Financial Position Bolstered by Capital Raises

Thrive Tribe’s cash position was strengthened significantly during the quarter through a series of capital raises, including a $183,500 placement in November 2024, a $703,000 entitlement offer with strong shareholder participation, and a $1 million placement completed in early January 2025. These efforts have bolstered the company’s cash reserves to $676,000 as of 31 December 2024, providing a buffer to support ongoing operations and strategic initiatives. Despite operating cash outflows of $568,000 for the quarter, the successful financing activities underscore investor confidence in Thrive Tribe’s growth prospects.

Looking Ahead

With a new CEO at the helm and a clear strategic focus on e-commerce and digital innovation, Thrive Tribe is poised to navigate the next phase of its evolution. The company’s ability to capitalise on its Slik investment’s profitability and to execute on its strategic review will be critical in delivering shareholder value. Stakeholders will be watching closely to see how Spooner’s leadership translates into tangible growth and market traction in the coming quarters.