- Singapore baby products startup KeaBabies hit $58 million revenue in 2023.
- KeaBabies manufactures in China and sells through Amazon primarily in the US.
- The bootstrapped company reached its 2023 target and plans to maintain organic growth.
Singapore-based baby products company KeaBabies has announced 2023 revenue of $58 million, up from $37 million in 2022.
The bootstrapped startup, founded by Ivan Ong and Jane Neo in 2017, has achieved double-digit net profit margins while avoiding outside funding.
Strategic manufacturing
KeaBabies manufactures its products like baby essentials and maternity items in China, selling primarily to the US through Amazon’s fulfillment network. The company first turned a profit just 6 months after launching.
What drives KeaBabies’ growth?
With a clear path for expanding its product line and sales, KeaBabies surpassed its initial $50 million target for 2023.
Ong cites the startup’s profitable operations and cash flow position as reasons to continue bootstrapped growth for now.
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KeaBabies joins other digitally native Singapore consumer brands like Secretlab and Castlery in gaining significant traction in the US market. The company currently has 67 employees and aims to continue its organic growth trajectory.
To read the original article in its entirety: https://www.techinasia.com/bootstrapped-baby-brand-crushes-revenue-goals
