- Blippar Co-Founder and CEO Ambarish Mitra says that he has no plans to sell the company, and has big expectations for his company.
- Mitra also said he would not rule out an IPO, if that’s what it took to get his company to the next level.
- Mitra boasted of a 79% customer retention rate and revenues in the “millions of dollars”.
- Although the prospect of visually cataloguing objects is extremely daunting, the company plans to take on the task not just through internal work, but through acquisitions as well.
Business Insider reports on Blippar’s growth prospects and plans to remain independent as long as possible.
From the article:
Speaking to Blippar founder and CEO Ambarish Mitra in the company’s London headquarters, Business Insider said this kind of function could be extremely valuable to a search company like Google or Microsoft. Would he entertain a conversation about one of those companies acquiring Blippar?
“No,” Mitra said. “And I will not change my mind on that because I’m a big believer that what I’m trying to build is bigger than the internet itself. Selling that would be stupid. And if I don’t do it, someone else will, but it’s something that has to be done.”
Blippar makes money mostly by forming partnerships with major advertisers, publishers, and education companies. Advertisers display Blippar’s logo on their products and marketing, magazine publishers use Blippar to make their stories interactive, and augmented reality can help make boring textbooks more fun. Mitra says Blippar has a 79% retention rate with its clients and that most of them do not use its services as a tactical one-off, but more like an agency, planning long-term initiatives….
Head to Business Insider for the full scoop.