Date: 21st September 2011
September 21st 2011 - Powwownow is extremely proud to announce their inclusion in the prestigious 2011 Sunday Times Tech Track 100; the definitive league table that ranks Britain's 100 private tech companies with the fastest-growing sales over the last three years.
With their turnover growing from £2.2M in 2007 to £6.3M in 2010, and predicted to be in excess of £10.2M in 2012, CEO Andrew Pearce said, “Our philosophy at Powwownow has been to use technology to simplify the way traditional business is conducted, and by combining that with innovative marketing we have successfully carved out a niche in the UK conference calling and web conferencing market. Being included in Tech Track is a genuine mile stone and testament to our ongoing ambition.”
Powwownow, who acquired Manchester-based web conferencing service ‘Yuuguu’ in July 2010 are currently developing an new cloud based collaboration tool, have subsequently signed a partnership deal with leading HD video provider ‘Vidyo’. By combining both products with their existing audio conferencing capabilities, the Richmond based company are currently in the process of designing a complete unified communications product, due for market release in mid-2012. Powwownow’s reach has grown considerably over the last few years; so much so, a large number of other companies on the Tech Track list are in fact the conference call provider’s customers.
Scott Dodds, General Manager, business strategy and marketing at Microsoft, the title sponsor of the league table, commented: “Privately-owned technology companies are making a great contribution to the economy despite difficult trading conditions. It is especially encouraging to see that cloud computing continues to provide such significant opportunities by helping technology firms to open up new markets and cut costs for their customers.”
The 100 companies increased sales by an average of 74% per year over the last three years to a total of £3.1B. They almost tripled their combined workforce to 13,500 over the same period.
The league table adopts the London Stock Exchange’s techMARK definition of what constitutes a technology company. Companies primarily engaged in simply reselling or reassembly were predominantly excluded, as were IT consultancies that do not develop proprietary technology. Companies also had to forecast an increase in sales from 2010 to 2011.
For more information or to download the full league table, visit the Tech Track website below: http://www.fasttrack.co.uk/
About Powwownow: (www.powwownow.com)
Powwownow was founded in the UK in 2004, offering customers low-cost conference calling facilities with the ethos of no booking, no billing, no fuss. The customer does not need to book a conference room and never receives a bill from Powwownow. They only pay the cost of their own call, which is added to their standard telecoms bill. The company now operates in 15 countries worldwide including the US and major European markets and recently acquired web conferencing and business collaboration providers, Yuuguu. Turnover for 2011 is predicted to reach £10m.
Powwownow employs 49 people and is based in Richmond and Manchester.
Powwownow PR & Social Media Exec
T: +44 (0)207 990 1165