The moment was marked by the official opening of the trading session at the stock market headquarters by the co-founder and 2Performant CEO Dorin Boerescu, 2Performant CFO Bogdan Aron, together with Virgil Zahan, CEO of Goldring, the authorized advisor who assisted the listing.
“We are pleased to see 2Performant coming to the Bucharest Stock Exchange for several reasons, the two most important being the fact that it is a technology company and one of the finalists of the Made in Romania program run by BVB for supporting Romanian entrepreneurs. The story of 2Performant is of a team of visionary and dedicated people who had an idea to transform marketing, an idea that convinced investors during its multiple rounds of financing. Now, 2Performant has reached a level of maturity at which the IPO is a natural step and I am convinced that we will see other companies in the field of technology following this example. The over 30 rounds of financing carried out in the last two years and their impressive value, of over EUR2 billion, prove that on the Bucharest Stock Exchange any serious company can find its financing for development,” said Radu Hanga, Bucharest Stock Exchange chairman.
In 2008, 2Performant established the first affiliate marketing network in Romania, based on a business model of paid advertising on sale. The 2Performant.com platform recorded 5.4 million transactions worth over EUR226 million for more than 600 e-commerce players in Romania and the region, from over 30 industries, such as Orange, Decathlon, Elephant, Libris, FashionDays, Carturesti, Noriel, and others.
Over time, 2Performant has grown over 200 times in terms of turnover. Directly connected to the significant acceleration of online commerce during this period and to the evolution of digital marketing, the company has high growth potential. After a 20% increase in turnover in 2019, to RON15.5 million, for the first half of 2020 the company reported a 37.5% increase in turnover, to RON9.3 million, and 129% growth in EBITDA. 11% of the company’s revenues in total turnover are generated in foreign markets.
Over time, 2Performant conducted multiple rounds of financing with business angels, totaling around EUR0.5 million. 2Performant became a joint-stock company in 2015 and has been audited ever since. So far, the company invested over EUR1 million in its own technology developed and operated by an internal team of developers.