Pedestrian co-founders make their 2018 AFR Young Rich List debut

Pedestrian TV co-founders Chris Wirasinha and Oscar Martin have made their debut on the 2018 AFR Young Rich List, with a wealth of $26m apiece.

This year, Nine Entertainment scooped up the remaining 40 percent stake in Wirasinha and Martin’s millennial news website Pedestrian TV. In 2015, Nine bought a 60% stake in the business for a  rumoured $10 million.

Wirasinha (L) and Martin (R) in the early days. Source: Pedestrian TV

Since the 2015 sale, the pair have expanded the business with a younger version of Pedestrian TV, Pez, and a number of new verticals which brands could align with, including Pedestrian Pets and Pedestrian Home.

The duo are the only publishers to top the 100-strong list, which is made up of self-made multi-millionares under the age of 40.

Speaking to Mumbrella, Wirasinha said: “Personally I remember seeing the very first list 15 years ago and was massively inspired by the brands and people on there.

“It’s always been a goal to build a creative, youthful and fun brand in media that doesn’t take itself too seriously and is still able to compete financially with some of the biggest players across all industries.

“It’s testament to the hard work, passion and hustle of our team who are what makes Pedestrian the phenomenal business that it is today.”

Fitness influencer and Sweat app co-founder Kayla Itsines ranked fifth on the list along with fiancé and co-owner Tobi Pearce, increasing their wealth from $63m in 2017 to $486m on this year’s list.

The pair’s fitness app, Sweat, is currently Apple’s largest grossing health and fitness app. With a combined social media reach of more than 35 million people, Sweat is available in seven languages in 155 countries, and more than 30 million users have created an account. According to the AFR, “the subscription-based app is on track to generate $100 million in revenue this year.”

The co-founders of Gold Coast-based Hismile, the teeth whitening business which makes good use of its Instagram influencer marketing strategy, also made the list with $62m a piece. The business has amassed 1.7 million Facebook followers, helped in part by promotional deals with reality star Kylie Jenner. According to the AFR, the business is turning over $50 million.

See the full list for 2018.


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