Raise a glass to Vinomofo – Deloitte 2013 Technology Fast 50 winner!DOWNLOAD
20 November 2013: With record revenue growth of 1,723% over the last three years, innovative online wine retail site Vinomofo (Wine Cru Pty Ltd), was today announced the winner of the 2013 Deloitte Technology Fast 50.
Joshua Tanchel, leader of Deloitte’s Technology Fast 50 Program highlighted Vinomofo’s innovative customer relationship model and understanding of the power of social media to enhance consumer engagement.
“Vinomofo has disrupted and redefined the ultra-competitive online wine market since its launch three years ago. They have pioneered a content driven approach that has been a real hit for consumers, helping to break down barriers and open up new channels to market by working directly with wine producers.”
The sectors driving the growth in this year’s Fast 50 are online, software and the infrastructure needed to support these. The convergence of disruptive, post-digital technologies is changing the ways businesses must respond to individuals’ needs and expectations.
“Vinomofo is a prime example of a business that has understood and embraced these changes and profited accordingly in less than five years. Particularly impressive across all of this year’s winning technology companies,” added Mr Tanchel, “is the way they have capitalised on opportunities in an environment of rapid change and disruption.”
“Although the majority of Top 50 winners came from New South Wales, for the first time the top four companies are all Victorian based. Led by overall winner Vinomofo the top four is rounded out by fellow Victorians Outware Mobile, Kogan and Australian Renewable Fuels. Another Victorian based company, M2 Telecommunications (ranked #42) has featured in the Fast 50 for eight consecutive years, meanwhile New South Wales based Tigerspike have featured for seven consecutive years, being able to sustain this level of consistent growth is really impressive.” concluded Mr Tanchel.
For the second consecutive year, UK Trade & Investment (UKTI), the British Government’s international business development organisation, is a sponsor of the Deloitte Technology Fast 50. Nick McInnes, Consul General & Director General UKTI Australia and New Zealand recognised this year’s finalists.
“I would first like to extend my congratulations to all the companies that have made it onto this year's list. It is a fantastic achievement given how strong the ICT industry and entrepreneurship are in Australia, and the competition you faced from other innovative companies that didn't make the cut, said Mr McInnes.
“Particular congratulations to Vinomofo - this year's winners - for their innovative approach to on-line wine retailing. I have no doubt that their business concept could be successfully applied to the UK given the strength of existing Australian wine sales to the UK.”
Mr McInnes continued, “UK Trade & Investment has helped dynamic Australian high-tech companies such as Appen Butler Hill, Invisible Artists and Tigerspike grow their businesses through expansion in the UK. I hope that our Sydney, Melbourne, Brisbane and Perth teams will have the opportunity in time to work with many of the companies on this year's Fast 50 list. We can provide free and confidential advice on all aspects of setting up and doing business in the UK which can take much of the risk out of expanding overseas.”
The Deloitte Technology Fast 50 Program, now in its thirteenth year, ranks 50 of Australia’s fastest growing public and private technology companies, based on percentage revenue growth over three years (2011 to 2013).
Total revenue for this year’s Fast 50 winners was approximately $1.7 billion. Average three year revenue growth for this year’s winners is 222%.
Now in its fourth year, the Leadership Awards are granted to companies with operating revenues in excess of $50 million in 2013. This year’s winner is online electronics retailer, Kogan which enjoyed revenue growth of 827%.
The winner of the 2013 Rising Star award is Melbourne based online forex broker Pepperstone Pty Ltd, which was founded in 2010 and achieved revenue growth of 45,335%.
The Rising Star award recognises high quality and innovative companies with strong growth potential that do not qualify for the Technology Fast 50 list, either as a result of having less than three years’ existing revenue data or not meeting the $8 million threshold requirement of the Technology Fast 50 program.
Deloitte Technology Fast 50 Top Ten Ranking - see the table in the downloadable version of the media release.
NB: See our media releases and research at www.deloitte.com.au
For more information about this year’s program please visit www.tech50.com.au