(Telecompaper) Spanish company Tuenti has announced that 98 percent of its revenues now come from its Tuenti Movil MVNO, completing the transformation from its origins as a social network. In a blog post, the company revealed that its revenues for 2014 came in at EUR 21 million, around 25 percent up on the previous year's result, thanks above all to the 72 percent growth of its MVNO, which now has a customer base of 240,000 just over three years after launching in February 2012. "We've reinvented Tuenti, as a product, as a company and as a business model. Our revenues have more than doubled since 2010 when they came exclusively from advertising," said Tuenti CEO Sebas Muriel. According to Europa Press, the company reduced its overall losses by 33 percent in 2014, to a negative EUR 16 million.