Copenhagen-based SimpleSite, which already operates in fourteen European countries and the U.S., now has the clout to continue its successful international expansion.
A capital injection of almost EUR 2 million is behind the company’s objective to launch sites in nineteen additional countries in less than eighteen months, setting the ambitious goal of annual turnover growth exceeding 50 percent.
With 300,000 new users every month, SimpleSite has already made its mark as a serious player in its market. In just a few years, the company achieved solid international growth, with 43 percent of turnover coming from international markets in 2011.
“This investment is a fantastic opportunity to speed up our growth significantly,” says SimpleSite’s CEO, Morten Elk. “Our business model has proved its sustainability in fifteen countries, and we know exactly how to penetrate a new market successfully.”
“This investment means we can leverage the scalability of our profitable business model, and launch in new markets even more quickly and aggressively.”
“Since 2005, we have set our sights firmly on international development, creating a profitable business model with annual growth rates of 38 percent in the last five years. Now we have the resources to really pull out all the stops,” says Morten Elk.
The man behind the investment of almost EUR 2 million is the experienced IT entrepreneur Kaare Danielsen, who has built up Scandinavia’s largest, dominating company in the field of job databases.
SimpleSite offers simple, user-friendly websites to private individuals and small businesses. SimpleSite’s scalable business model means that investments in new customers are typically profitable within one to two years. After an initial investment in the first three years, the company has returned a profit every year. In 2011, turnover of over EUR 3.6 million generated a pre-tax profit of EUR 0.4 million.
SimpleSite is arguably the only company in its field that has expanded to most countries. Even more impressively, this organic growth has been financed by the company's own earnings.
Morten Elk, founder and CEO
Phone: +45 2029 7505
Press Release - Fact Sheet - Morten Elk (photo) - Zip file