News Updates Forbes

Sep 28 2017

Top tech startup Yondu ready to grow bigger

MANILA – The future begins now for Yondu as it continues to be recognized internationally for its outstanding achievements.

In 2016, the Philippines’ leading IT solutions company made it to Forbes’ list of top 5 technology startups, citing surges in revenue in 2014.

“The mobile content provider that was sold to Globe Telecom, Incorporated based on a valuation of $8 million ranked second in Forbes Philippines’ top startups list,” a report said.

Besides gaining 41% surge in gross revenue (P853.9 million) in 2014, Yondu’s net income also rose by 26% (P250.6 million).

To add to that, leading telecommunications service provider Xurpas also invested P900 million to acquire a 51% stake in Globe’s Yondu.

“The investment is meant to solidify their partnership in the Internet and digital space,” the report continued.

“Xurpas and Globe said they will transform Yondu into a regional arm for digital content distribution and other technology-driven services,” it added.

While some firms see this as an end goal, Yondu takes this another stepping stone to growing bigger and going beyond expectations.