Oodrive, the French Box, targets 50 million euros in turnover by 2015
Launched at the end of 2000, the Oodrive.com company positioned itself very quickly on the cloud. A market estimated at 1.3 billion euros according to recent forecasts from the firm IDC. 13 years after its launch, Oodrive has recorded a turnover of 25 million euros, up almost 50%, and claims more than 1 million end users. The details of this growth, so far gone incognito …
“A hard drive on the internet”
Imagined by two brothers, Stanislas and Edouard De Remur, and Cédric Mermilliod, the start-up Oodrive was born in 2001 out of abandonment. The three co-founders were working at the time, remotely, on a business project in the field of logistics when they came up against the limits of courier services: it was impossible to easily exchange large documents related to their business. plan… This is where the idea of creating “a hard drive on the Internet” emerged, explains Stanislas.
The three founders are initially aimed at the general public but quickly pivot towards a B2B market. “The need was there from the start of the 2000s, but general public users were not ready to put their hands in their pockets to access this service. At the time, it was impossible to base our business model on advertising. We have therefore decided to switch our offer to businesses ”.
An aggressive acquisition policy
The company therefore set up an online file storage and sharing solution and quickly began a policy of aggressive external growth. “In total we have acquired four companies” confirms Stanislas. In detail, in 2006 Oodrive bought Mayetic, a supplier of collaborative workspaces. Then came the integrations of Omnikles in 2011, publisher of electronic exchange solutions with probative value, and of CertEurope, an expert in securing digital exchanges in 2012. More recently, Oodrive took over the Lyon start-up CommonIT, placed in receivership.
Today, 13 years after its creation, Oodrive boasts 14,500 corporate customers and more than one million users. “We work with small and medium-sized businesses as well as with larger structures. One third of the CAC 40 companies are among our clients, ”explains Stanislas. Oodrive therefore markets its offers from 1,000 euros per year to 300,000 euros depending on the volume.
“Currently, we are in the same core business as the American Box, but it is still very little used in Europe. In online storage, our main competitor is Mozy, acquired by the EMC group. As for the file sharing offer, we don’t really have any front-end competitors but we are working with vertical competition according to the different market segments ”
Asia: new growth driver?
Available in 14 languages, Oodrive’s SaaS solutions are used in more than 90 countries. The company currently employs 220 people, half of whom work in R&D, and has offices in Belgium, Germany, Spain, Switzerland and Singapore.
International development is precisely what Oodrive is at stake. The company has just brought into its capital the R Capital Management fund, which on this occasion bought back the financial participation of Iris Capital. In 2007, the fund invested 4 million euros in the specialist in online file sharing. The amount and terms of the transaction remain confidential, but this restructuring should notably help Oodrive to boost its international development. Stanislas admits, in fact, encountering some obstacles in this deployment: “Unlike a B2C offer, when you offer a B2B product you always have to start from scratch when you arrive in a new country. “
“Today, three quarters of the 25 million euros in turnover that we achieved in 2012 are made in France. The rest of our activity concerns Belgium, Spain, Switzerland and the United Kingdom, ”explains Stanislas. Asia, however, represents a medium-term development axis for Oodrive. The company has, in fact, recently opened an entity in Singapore. “I prefer to be strong in my domestic market and take an interest in Asia rather than considering development across the Atlantic where the market is much more mature with players, like Box, who have already raised a lot of funds” admits Stanilas .
In addition to this international deployment, Oodrive intends in particular to emphasize the value brought to the files by developing e-trust or electronic signature solutions. The Parisian company has also recently launched a B2C offer, with its Ubikube solution. Thanks to these various sources of growth, Oodrive is aiming for the ambitious objective of 50 million turnover by 2015. A target that could be reached if we increase the growth prospects of the cloud computing market. “I think the coming years will be marked by the rapid adoption of cloud computing by small and medium-sized businesses,” concludes Stanislas.
Oodrive key figures
- Creation date : End of 2000
- Number of employees: 220
- Number of client companies: 14,500
- Number of end users: more than 1 million
- Total amount of funds raised: € 11.5 million from Iris Capital and Time Equity Partners.
- Turnover: 25 million in 2012 against 17 million in 2011