Deloitte has selected Gravity R&D to be a recipient of The Deloitte Technology Fast 50 in Central Europe award. Gravity was awarded as the 2nd fastest growing startup in Hungary, and the 25th fastest growing startup overall in the CE region. Napi.hu also covered this story.
This is the 16th year that the competition has been held, where the 50 fastest growing public or private sector technology companies are ranked. Deloitte bases their decision upon financial statements and annual revenues. It’s awarded by the percentage of revenue growth as calculated over a 3 year period. Gravity grew by 466% during the selected period.
The CE Technology Fast 50 report is all about celebrating companies large and small, public and private, local and global that are delivering technological innovations which drive industry and business in our region forward. – Alstair Teare, CEO, Deloitte Central Europe
Receiving this award is a testament to just how quickly our business has expanded in the past several years. It draws attention to our innovative approach for business and potential for growth. And it comes at a good time. Our recent expansion into the hyper growth market of Southeast Asia that includes two new regional offices, several new hires, and a quickly growing portfolio of local companies, is sure to lead Gravity into several more years of outstanding growth.
Our clients are growing quickly as well. We’ve been working together with eMAG, the largest online store in Central and Eastern Europe, since 2014. When we started working together, their yearly revenue was €260 million. eMAG is now on track to reach revenues of €500 million this year, and has set likely targets to reach €1 billion by 2017. Our recommendations are improving the user experience across their site, helping people find relevant products quickly. Our cooperation with eMAG has now expanded to cover all of their country specific sites including Hungary, Poland, Romania, and Bulgaria.
It’s exciting to be recognized for all the hard work that’s been going on behind the scenes here at Gravity over the past several years. Receipt of this award places us into the spotlight and will fuel our team’s efforts moving forward to continue innovating the world’s best recommendation engine.