PrivateFly listed second in Crunchbase's 50 successful companies with minimal funding
The private charter platform’s successful growth strategy is highlighted by the business information giant, coming second to YouTube
In the ten years since it launched, PrivateFly has grown from a small self-funded startup, to a well-known name in private aviation - proving the business case for the online booking platform along the way. And the company’s significant self-generated growth has now been recognised by Crunchbase, the global business database that analyses both public and private companies.
With investment funding of just £2 million raised in 2011 versus revenues of over £22 million in 2017 (and with continued growth since), PrivateFly was placed second on Crunchbase’s list of ‘50 Successful Companies with Minimal Funding’, published on July 19. In the top spot was YouTube which raised funding of $11.5 million and now has revenues of $7.5 billion. After PrivateFly in the second spot, crowdSPRING was placed third and TripAdvisor fourth.
PrivateFly, which operates from St Albans in the UK, and Fort Lauderdale in the US, has also seen its sales growth and profitability recognised in the past two years by the Sunday Times Tech Track 100, Export Track 100 and the FT1000.
Crunchbase wrote: “It seems like every startup needs big funding to see big revenue. However, we’ve found that’s not always the case. We used Crunchbase Pro to debunk this myth and dug up 50 of the most successful companies that have built themselves on minimal funding.”
Adam Twidell, CEO and co-founder of PrivateFly comments: “This is fantastic recognition of our business strategy over the past ten years, and I’m very happy to be a company in our sector making headlines for successful use of investment, rather than how much we have raised.
“It’s very flattering to be listed alongside such household names as YouTube and TripAdvisor. In addition to self-generated growth, what PrivateFly has in common with them is challenging the status quo - something that continues to define us as a business.”
See the full list on Crunchbase: 50 Successful Companies with Minimal Funding