Last week Techvibes reported that only one Canadian company had been named to the Silicon Alley Insider's Digital 100 - a list of the Top 100 World's Most Valuable Internet Startups.
I'm happy to report that we were wrong and a second company made the list at #66 - Toronto-based Adenyo, a mobile marketing software company.
Mobile usage has increased over the last five years, Adenyo has experienced triple-digit growth. We estimate the company to pull in revenue of around $25 million this year. Given multiples granted to acquisitions in this space recently, we put a 8x multiple on the stock for a valuation of $200 million.
If was quite the week for Adenyo. In addition to making the SAI 100 they were named by Deloitte in its Fast 50 list of top Canadian technology companies.
With operations in North America and Europe, Adenyo enables agencies, brands and mobile operators to develop, target, execute and measure fully integrated marketing strategies and campaigns in the mobile economy. Adenyo powers four technologies through its integrated mobile marketing software platform – mobile marketing and ad serving, mobile storefronts, mobile coupons and payments, and mobile analytics – and has delivered thousands of successful mobile campaigns for the world’s most demanding organizations, allowing brands to capitalize on the unique opportunities that only mobile can deliver.
In March, institutional and private investors participated in a financing round to accelerate Adenyo’s portfolio expansion and international growth plans.