NEW YORK AND BIELEFELD, GERMANY, March 1, 2019 /PRNewswire/ —
With 325,000 paying customers, 5 million active users and 10 billion monthly clicks and scans, the profitable company is targeting the $100 million ARR mark
What does the acquisition mean
Upon completion of the acquisition, Bitly will have over 325,000 paying customers, more than five million active users, around 20 million page views and 10 billion clicks and scans per month. For the combined company, approximately 180 employees will each work towards $100 million in annual recurring revenue (ARR) from their already profitable revenues.
"We're using Bitly's leadership in link management to expand into other strategic categories such as QR codes and our recently announced Link-In-Bio offering," said Toby Gabriner, CEO of Bilty. "The reactions of our customers to our QR code offer were extremely positive. The acquisition of Egoditor, the leading provider in this area, is a logical next step in the further development of Bitly and the beginning of another growth phase for the company. Through the merger we can offer solutions with clear synergies in a uniform platform, open up growth markets and strengthen our global presence."
"We're very proud of the sustained growth we've achieved with Egoditor over the past few years and excited about the opportunity to combine our QR code platform with Bitly's link management and Link-In-Bio offering for an even better customer experience to be able to offer an integrated solution. Bitly's mission to make connections faster fits perfectly with our goal of bringing offline users together with digital offers," says Nils Drescher, co-founder of the Bielefeld-based company Egoditor, which with QR Code Generator offers a comprehensive solution for the Design, management and evaluation of QR codes offers.
Bitly's new customer connections platform
Bitly is also introducing its comprehensive Customer Connections platform to respond to the growing Link-In-Bio market, as well as the proliferation of QR codes and customer demand for a unified solution for "all link-based solutions".
Through a mix of product launches and strategic acquisitions, Bitly is becoming a unified all-in-one SaaS platform with three separate but integrable offerings. The Customer Connections platform will enable private users, brand owners and companies of all sizes to address their respective target groups anywhere and platform-independent. End users can find and consume relevant content faster, while companies can provide trusted access to important information and user experiences through branded links and QR codes.
The merger was led by Bilty's lead investor, Spectrum Equity, in the person of Pete Jensen and Parag Khandelwal, as well as the company's board of directors.
About Bitly
Bitly is a leading global SaaS company that offers comprehensive solutions to share any information shared online with the right audiences and achieve desired results. Bilty's all-in-one platform allows more than five million monthly users and 325,000 customers, such as influencers, brands and companies of all sizes, to use branded links, QR codes and link-in-bio solutions to exchange with their target audience. Learn more about Bitly at https://bitly.com/.
About Egoditor
Egoditor GmbH) is the SaaS company behind the world's leading QR code platform qr-code-generator.com. Egoditor was founded in 2009 as a two-person start-up by Nils Engelking and Nils Drescher in Bielefeld and was one of the first companies in the world to focus fully on QR code technology. The growing demand for simpler digital tools paved the way for the QR code generator, which is now used by more than ten million customers in over 190 countries and over 30 languages. The spectrum of customers ranges from small and medium-sized companies in all industries to global brands and non-profit organizations. They include Starbucks, Zalando, the Salvation Army, the international hotel group Accor and the fashion group GAP. In addition to the free QR code generator offered in 30+ languages, Egoditor offers a professional custom QR code service, multilingual customer support and a detailed scan tracking tool. Ultimately, Egoditor aims to make mobile marketing usable and accessible to everyone. One scan after the other. Egoditor still has its headquarters in Bielefeld and an office in Berlin. The QR code pioneer employs a multinational team of over 50 people. To further scale Egoditor, Flex Capital became the main investor in 2020.
Contact Kat Eller MurrayROAM Communications for Bitly415.684.8528kat@roamcomms.com
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