Online wine retailer Vinomofo has taken out the top spot in the Deloitte Technology Fast 50 Australia 2013 awards after recording a 1,723 per cent revenue growth.
The Melbourne-based company was founded in 2011 by Andre Eikmeier, Justin Dry and Leigh Morgan with hopes to offer wine deals for real people without the snobbery that sometimes can be associated with wine.
In early 2012, The Catch Group, invested into Vinomofo, and in July 2013 –with the help of a consortium of private investors — the original founders bought back the company, and have seen their growth continue.
“Our ranking is based on revenue growth, but to us this is a pure measure of the impact those millions of decisions we made along the way have had, and the traction we have been able to gain in the marketplace,” Andre Eikmeier, co-founder and CEO of Vinomofo, said.
“We’re also very proud that we have been able grow profitably, rather than simply pump capital into marketing dollars to ‘buy’ our growth.”
The company said it will continue to build the business online only offering deals on its wine and engaging content, while exploring the potential of traditional routes in the offline world.
Now in its thirteenth year, the Deloitte Technology Fast 50 Australia 2013 program recognises and profiles Australia’s 50 fastest growing public or private technology companies, based on percentage revenue growth over three years (2011 to 2013).
Joshua Tanchel, leader of Deloitte’s Technology Fast 50 Program said Vinomofo’s win exemplifies the rapid growth of businesses that could not have existed five or 10 years ago.
“The convergence of disruptive, post-digital technologies is changing the ways businesses must respond to individuals’ needs and expectations,” he said.
“Companies like Vinomofo continue to be an inspiration in the way they have achieved rapid growth by exploiting new opportunities in existing markets.”