Webidoo, +30% in Q1 and landing in the US market

After a 2023 closed with a turnover of more than 12 million, up by around 20% compared to 2022, and a positive Ebitda of more than 1 million, Italian digital company Webidoo continued its growth also in the first quarter of 2024 with a +30% compared to the same period of the previous year. The start-up, founded in 2017, had raised six million euros in 2021, bringing on board Tim Ventures and Banca Generali's 8A+ Fund. At the end of 2023, it opened a new investment round, geared towards the venture capital market.

"We are satisfied with the excellent results achieved and we believe that 2024 will be a decisive year to consolidate what has been achieved but also to face new challenges," comments Daniel Rota, CEO of Webidoo: "The continuous improvement of processes and products and our propensity to innovate by investing heavily in research and development are the driving force behind our growth. We are expanding our presence outside Italy, we have formed partnerships with the world's leading innovation players, we have acquired technology companies to bring more and more value to our in-house talent and know-how, and finally, with the new Jooice platform powered by artificial intelligence, we aim to develop cutting-edge technology products. We are ready to build our international growth, thanks to a solid and highly scalable model'.

"2023 was a year of organic growth and heavy investment: we opened a US office with headquarters in Chicago and a marketing team in Boston, which collaborates with MIT for the development of our technologies. The American market is fundamental for tech development and networking,' says Giovanni Farese, general manager and founder with Daniel Rota and Egidio Murru of the company: 'We have reached the first million euro in licences sold for our proprietary product, for which we have registered two patents: Jooice. More than a thousand active customers use this digital marketing platform: these are results that show, on the part of SMEs and micro-enterprises, the desire to use digital tools to compete in a global scenario. Jooice is an AI-based platform that was released 9 months ago and of which we will launch the new version in July, with which it will become a global product, distributable in all countries: it will accelerate our internationalisation plan. And at the end of July it will be launched in the US. We will continue to invest in AI because this is the time, it is already able to create advertising content on its own'.

Webidoo started out as a marketing technology company, but the applications could be broader: 'Marketing is a great gateway into companies, it helps us create loyal customer bases. We do not exclude developing products in other areas as well,' Farese replies. On the financial front, too, the options are manifold: 'We have opened a new round of financing aimed at the venture capital market, and with our entry into the USA, new opportunities are opening up. Listing on the stock exchange has always been a possibility, which we look at carefully: raising public capital can give further impetus to the internationalisation project we have in mind,' Farese continues.

"A couple of months ago we opened an office in Dubai, within the DIFC Innovation Hub, to coordinate the Middle East and Africa. We came to follow clients in these markets, which are potentially interesting for us. The recently opened DIFC Innovation Hub is an accelerator for digitisation and the whole area enjoys government funding in this area where we can have access to expertise and networks."