The Surprising Key to BeFunky's Rise as Industry Powerhouse

Photo Editing App/Platform Breaks User Records with Unique Business Model

Jul 08, 2015, 06:13 ET from BeFunky

PORTLAND, Ore., July 8, 2015 /PRNewswire/ -- BeFunky has become an industry leader in online photo-editing, hitting a record 45 million plus active user visits just last month.  While many may not be surprised by BeFunky's consumer success, attributed to its easy-to-grasp user platforms, record processing speeds, and creative library of features, financial observers might be surprised to learn that the company reached its powerhouse status without the advantage of the typical hefty funding associated with tech firms.

Co-Founder and CEO of BeFunky, Tekin Tatar asserts, "We developed the concept of BeFunky in 2007, just prior to one of the most challenging economic times in tech history. Out of necessity, we learned to be prudent in running every material area of our business, from designing apps, to retaining talent, to sourcing timely and objective user feedback.  Related initial strategic decisions like managerial recruitment and overhead expense allocation also reflected the mindset of a financially lean going concern, rather than a traditional tech startup." 

As a result, BeFunky management was reared with the discipline to cover operational expenses with operational revenue.  Tatar adds, "Even specific feature design assessment meetings included prospects for immediate monetization.  In vetting a new feature, if we couldn't foresee a viable way it would earn back most of its cost quickly, that idea was shelved or modified until it posed no drag on operating costs."      

By contrast, the typical tech start-up is known for focusing primarily on accelerating growth and scale in order to prompt massive user numbers, and not profitability.  This often results in failure and/or in inflated valuations of companies that have no viable operating model.  BeFunky leadership maintains that a parallel path of growth while paying attention to the bottom-line is more likely to build sustainable success.

Mehtap Mae Ozkan, Founder of Golden Horn Ventures and TIMAR Ventures, the group responsible for funding of BeFunky, adds, "We were impressed by Mr.Tatar's resourcefulness as he designed enterprise structures and processes that could withstand tough economic times while building a foundation for future growth.  His forward thinking has paid off.  We've reached our goals without additional investment and BeFunky currently covers its own operational expenses."

Tatar concludes, "The key to BeFunky's success is not only a smart approach to managing our business but also to being committed to providing our users the easiest, fastest, most creative, and fun way to edit photos.  We expect to continue to break growth records and we have some upcoming surprises for BeFunky fans with even more innovative functions and features in the near future!"

About BeFunky

Founded in 2007, BeFunky pioneered the first online photo-editing toolset enabling everyday users to transform ordinary pictures into works of art without complex software. Today, BeFunky records over 45 million active visits per month from desktop, tablet, and mobile users. The firm is privately held and headquartered in Portland, Oregon. More information is available at www.BeFunky.com.

 

SOURCE BeFunky



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