Ozaroo Retail Ltd today announced that, for the second year in a row, it was recognised as Northern Ireland's top technology company, being the highest ranked Northern Irish firm and ranking 6th in the whole of Ireland in the 2017 Deloitte Technology Fast 50, the world's most influential growth index of the 50 fastest-growing technology companies in Ireland.
This is the fourth consecutive year that Ozaroo has been listed in the ‘Fast 50’, and is ranked in the top 10 in Ireland for the second year running, showing continuous and consistently exponential growth. Also featured in the Belfast Telegraph, the Irish News and the Ulster Business Magazine, the rankings are based on average percentage revenue growth over four years.
Ozaroo's founder and managing director, Chris Martin, credits the diversification and expansion of its range of products and increasing brand partnerships for its continued growth, together with the passion and dedication of its team.
Following the announcement, speaking on BBC Radio Ulster this morning with BBC business reporter Clodagh Rice, Chris Martin said that being frugal and efficient, and passing on savings to customers through efficiencies and economies of scale enables the company to compete with its much larger competitors such as Amazon, John Lewis, Argos and Boots.
He said that the growth is good for everyone involved: the staff, their families, the local communities and all those the company does business with throughout the supply chain, as well as the end customers, who ultimately benefit from some of the lowest prices available anywhere. Ozaroo's partner brands also benefit from the company's growth and increasingly see Ozaroo as a key strategic partner in the ever-changing dynamics of online retail.
The awards, now in their 18th year, rank Ireland’s fastest growing technology companies and recognises indigenous technology companies that have demonstrated exceptional growth in turnover in the last four years. The Fast 50 programme is recognised as a barometer of a company’s success and provides it with a hugely valued, respected and marketable, public ‘badge of honour’.
Cumulatively, the 2017 Fast 50 winners generated approximately €858 million in total annual revenues in 2016. The average revenue of companies featuring on the ranking was approximately €17 million, while the average growth rate of the companies over the last four years was 290%.
Announcing the winners of the Deloitte Technology Fast 50 programme, Joan O’Connor, Partner, Deloitte said: “Each year, these awards showcase the very best of the Irish technology industry. What really strikes me this year is the focus the winning companies have on global markets – we estimate just under 90% of our winning companies’ revenues are generated by exports – this demonstrates the ambition and drive of Irish technology companies to diversify and the global nature of this business. Last year we highlighted that export markets would become increasingly important for the indigenous sector, given the Brexit challenge – and it’s clear the Fast 50 companies are tackling this challenge head on.
These awards offer a glimpse into the future of the technology market for venture capitalists and multinational companies and also provide an excellent opportunity for businesses to highlight their achievements, their future ambitions and aspirations in the global marketplace. Congratulations to all our winners.”
The Deloitte Technology Fast 50 Awards took place in Dublin on 3 November 2017. Keynote speaker on the night was Duncan Stewart, Deloitte Canada with Deloitte representatives from a number of member firms present and Silicon Valley Bank personnel.