Timothy Armoo, a 28-year-old entrepreneur born in Hackney to Ghanaian parents, co-founded Fanbytes, a Gen Z influencer brand, at the age of 21. The company, which initially focused on linking social media campaigns with brands and content providers, expanded quickly and became profitable, garnering the interest of multinational corporations.
Armoo revealed that he sold Fanbytes for eight figures and became a millionaire before the age of thirty. The company, formed in 2017, currently works with large worldwide players including Estee Lauder and Samsung, according to Daily Mail.
On the 90s Baby Show podcast, he recounted to producers Temi Alchemy, Fred Santana, and Dennis Skinner how his innovative idea resulted in an eight-figure deal in five years. In May 2022, he sold the company to Brainlabs, an internet marketing agency. Armoo, who launched his first business at the age of 14, described his road to become a “multi, multi-millionaire”.
In a YouTube video, he described the process of creating Fanbytes, the firm he co-founded. He characterized Fanbytes as a software and service platform that helps marketers execute influencer campaigns.
Brands that contact Fanbytes to target a Gen Z audience will receive aid in discovering influencers on platforms such as YouTube, TikTok, Instagram, and Snapchat.
Armoo stressed that the company’s duty was to develop creative strategies and implement influencer campaigns for clients.
“The difference is that we used a lot of tech to do that so we had our platform where brands would activate their campaigns, approve influencers, approve data, and all that stuff. But it was very much a tech-enabled agency.”
Asked whether he still owned the company’s intellectual property (IP), the young genius said the intellectual property (IP) of Fanbytes was intentionally sold during the acquisition by Brainlabs last year.
He explained his strategic decision, stating that when contemplating the eventual sale of the business, he considered whether the valuation would be based on a multiple of profit or a multiple of revenue.
“If you’re more of a techie business you’ll get valued on a multiple of revenue. If you don’t have any tech, you’re just selling your time etc. You’ll get valued on a multiple of profit.”
Responding to questions on how he acquired knowledge of the business field at the age of 21, Armoo revealed that he gained insights through reading, citing self-help books like “Built to Sell.” At just 14, he founded his first business — a tutoring company — while also helping other students make money.
Reflecting on the inception of Fanbytes, he disclosed that he foresaw the influencer market evolving. “When I thought about the idea of Fanbytes I was like okay this influencer thing is gonna be independent and then at some point there’s gonna be consolidation. I’ve seen it happen in TV, I’ve seen it happen in radio, I’ve seen it in PR. .. It’s a game of marketing.”
He claimed that it took Fanbytes almost six years to reach its peak and advised aspiring entrepreneurs to stay in the game, grow their presence, and eventually position themselves for acquisition.
He said Fanbytes commenced business in 2017 and ended up employing 75 staff, with co-founder Ambrose and CTO Mitchell playing crucial roles in the company’s development.
“Ambrose was my COO (Chief Operations Officer) he would make the machine run while I would invent the machine.
“In October 2021 we got approached by three different companies in six weeks. I have never experienced that before.
“[They were] like ‘hey you know are Fanbytes thinking of getting to the next level?’.” “That’s the phrase they always use,” he joked. “Getting to the next level” or “strategic partnerships’.
Before the success of Fanbytes, Armoo experienced a series of trials and errors, including several setbacks and “hell of flops.”
One notable venture was Entrepreneur Express, launched at the age of 17 and sold after just eleven months.
Fanbytes emerged as a successful venture after these earlier challenges in Armoo’s entrepreneurial journey.