Globant eyes revenues of US$90mn in 2011

- Monday, May 30, 2011

Globant eyes revenues of US$90mn in 2011

Argentine software innovation company Globant expects to bring in revenues of US$90mn this year, a 60% jump over 2010, Globant CEO Martín Migoya told BNamericas.

The company is experiencing a boom in growth at the moment, and in March it secured US$15mn in new investments from stakeholders Riverwood Capital and FTV Capital.

Much of the growth is based on four worldwide revolutions that are really taking off in Latin America, Migoya said.

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Those are: the social revolution with innovation around the area of social networks; mobile applications that tie in with the boom in smartphone and tablet use; use of devices such as Apple's array of products and those of the Android operating system; and innovation around app stores given that programming apps has become much more simple than in the past.

"Latin America is playing an increasing role in the IT world because Latin American culture is very similar to that of Europe and the US. We also have a talent pool that is underexplored," Migoya said.

Globant is looking to end the year with 3,000 IT professionals spread out over eight delivery centers across Latin America, in addition to commercial offices in the US and the UK.

The company is planning to open 8-10 new offices in Argentina and other Latin American countries by September.

Globant's key clients include Dreamworks, Disney, Orbitz, Google and Yahoo.