From noodles to private jets: Tech makes the FT 1000 fly
Today’s Financial Times includes a Special Report about Europe’s 1000 fastest-growing companies, the FT 1000. And PrivateFly is one of them – for the second year running.
I’m really proud that we’ve made this ranking once again. After ten years in business, to be still achieving an annual growth rate of 48.4% is testament to the great team we have here – and how much we all care about making PrivateFly better and bigger, every year.
This year’s FT 1000 lists the European companies – which are based across 31 different countries – with the highest compound annual growth rate in revenue, between 2013 and 2016. These are all businesses that are disrupting industries and creating employment in their own countries, and beyond.
As was seen in last year’s list, Technology is the biggest industry sector, with 155 of the 1000 classified as tech companies. But the disruptive power of tech is really the driving force behind far more of the 1000, including PrivateFly which falls under ‘Travel & Leisure’.
The company in the no.1 spot, Deliveroo, may be classified as ‘Food & Beverage’ but it’s not a new style of cooking that’s brought about its 924% annual growth rate. Food delivery existing before Deliveroo, just as private jet charter existed before PrivateFly. But whether you’re delivering Pad Thai or a private jet from London to Nice – you can do it faster and better via a smart tech platform.
Revenue growth is only one measure of a successful business, however. Deliveroo’s latest figures show its losses are about the same as its revenue – £129M last year – having invested heavily in new territories, including in Europe and Asia. And with other challenges such as its working arrangements with drivers, and tough times in its restaurant industry supply chain, the FT questions if the company will be able to show a profit.
At PrivateFly we’re unique in tech disruptor models in the private jet industry, in currently being a profitable company. Of course nothing stands still, and to expand further we’ll need to invest in organic growth and in further business combinations and collaborations.
But after ten years in our market – a period in which many other disruptors have tried and failed – we’ve reached a point where we really understand what our customers want, and how best to deliver it.
Congratulations to all the other companies in this year’s FT 1000.
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