Contus, a leading web products & mobile application development company in India recently announced a note on their accomplishment of $0–10 million valuation in the past five years by a top investment banking firm.
“Our five year’s efforts to achieve a decent turnover have paid off fine with this number and I specially congratulate our employees who played their roles to the fullest and best,” said Mr. Sriram Manoharan, the Managing Director of Contus, at the gratitude meeting held recently. “The results are particularly encouraging as we are aware that the competition in this mobile-driven market seems to be very high and companies like us have to look at novel ways to drive business growth and investment. We are also keen about driving in more and more exemplary solutions for mobility-based obligations,” he added. Sriram also promised that, Contus’ turn over to will be above $20 million, with $150 million valuation in the next 3–4 years.
Contus was initially started in 2008 with just two people on board. The founders say that their growth rate turned explosive with the launch of certain capable products in 2009. “Post-sale support and affordable pricing are our two big traits which are liked by most of our clients and we believe in ’support is sales’ motto,” said the company’s CEO, Mr. Balasubramaniyam. 2010 was again a huge success for Contus, with the launch of their Group buying software for websites and mobiles which falls to be the major contributor of the company’s overall sales.
Contus gave birth to a very distinctive web and mobile apps platform in the year 2011 and named it ‘Apptha’. Apptha.com, the leading provider of the world’s best extensions for the most famous open source systems was originally launched with 10 products (which is now 100+). “In these five years, we’ve worked with different types of businesses and clients who belong to more than 40 countries,” said the CEO. He continues, “The companies we work with more commonly are those with the ambition and capacity to grow, and have a wider focus toward quality outputs—and to us it seemed quite easy to accomplish.”
2011 was also the year for Mob eCommerce. The time this product was launched, it also won an award from ESparks to be listed as one among the ‘Top 10 eCommerce Startups for the year 2011’. “The rising demand for mobile ecommerce in today’s time happens to be a major reason for the success of our MobeCommerce product, which has contributed vast on our company’s overall proceeds,” said the Creative Head & COO, Mr. Bala Murugan. Contus drives in a maximum number of clients through its mobility-based products.
This $0–10 million transformation is indeed a noteworthy achievement—that too within a period of 5 years. Mr. Sriram also spoke about the endeavors and goals the company would encompass in the future. “To be frank, this sum of revenue was not our actual objective at the time we initiated our business—but it actually seems to be convincing when looking back at the hurdles we had come through. We now employ 140+ staff and farm out our services in 40+ countries. This growth obviously is a testament to our efforts, but anyway we are not going to wrap up with this. We are into the process of turning this $10 million into $150 million in the next five years,” said Mr. Sriram hopefully.
Contus is a leading mobile application development company in India. The company also owns a venture at San Francisco for Mobile Application Development. To know more about the company and its products, contact: Phone: +1 718 487 9948, Web: http://www.contus.com or through Email: info(at)contus(dot)in.
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