Postcards from Europe: Case Study, Fastest Growing Top Ten!
Welcome to the content from our series "Postcards from Europe" that ran between the 14th - 19th of July 2014. On this page we showcase the top ten fastest growing start-ups in Europe. The data was collected from Deloitte Technology Fast 50 for Central Europe. Find out about our "Postcards" series HERE
#8 WebSupport S.R.O: Number 8 on our top ten list of the fastest growing companies in central Europe is Solvakian company, WebSupport. This business is very much like the others we have profiled in the last week in so far as they are taking advantage in the rise of use of the internet and this can be seen in the fact that it has experienced growth of just over 1000% in the period of 2012-13. Also, like the others we have profiled, it is a business that has a low cost of operation because they do not need large brick and mortar operations in the traditional sense – because it operates largely online the need for having high operational costs are just not needed – which means, more focus can be placed on growing the audience reach and marketing.
Put simply WebSupport is a domain name hosting and web services business that operates across four countries Slovakia, Austria, Czech Republic and Hungary. They currently have 34 employees and host some 91320 domains across 67909 customers. The infrastructure they do is mostly hardware and so they have 631 servers to manage the immense amount of data pass through that comes from that high number of clients.
The business was formed in 2002 which means it is coming into its 12th year – that in itself is a sign of success given that most small business start-ups in the United States will fail within the first five years – if you want to know the potential of a business track its performance over its first five years. The owners of the business are Michal Truban and Pavel Stano. When we took a look at both of them online we came to the conclusion that both appeared to have complementary skills – Michal appears to be more of a marketeer and Pavel an engineer. Now, for the record, we have seen that sort of partnership before in Steve Jobs and Steve Wozniak where each of them played to their strengths and stepped into support each other’s weaknesses.
So, the business service is very simple – need someone to host your website? They will do it. But, its not so much in what they do today that interests us it’s where they can go tomorrow. With the rise of the “Cloud” a number of business customers are seeing the benefit of operating in truly virtual environments and so a next step extension to their current service could be to harness that demand by providing a specific “cloud” service.
Another natural next step could be to offer a suite of services to small businesses that is the mix of both online and offline services as a package. In other words there is a significant amount of potential in the business.
This is one business run by a group of young dynamic entrepreneurs that must be watched because only bigger things can come – one final observation – they currently operate in four countries there are still another 20 across Europe where this Slovakian success story can infiltrate!