Snapchat is in discussions with a number of investors, including Alibaba, to get the imaging app valued at the US$10bn mark, according to sources close to the company.
Dublin: 31.07.2014 12.21AM
Phil Fernandez, co-founder and CEO of Marketo, with Fergus Gloster, its managing director, Europe
One of Silicon Valley’s fastest-growing privately held companies, Marketo, has moved to a new 7,000 sq-foot building which will house its European HQ in Dublin.
Marketo has moved into its new European headquarters at Cairn House, South County Business Park in Leopardstown.
The company last year announced plans to create 125 jobs in Dublin with the support of IDA Ireland. So far, 20 Irish staff have been recruited.
“We are really impressed with the quality of people we are hiring in Ireland," said Phil Fernandez, co-founder and CEO of Marketo. "Ireland is an excellent launch pad into the European market and we view it as Europe's premier cloud computing centre."
The Silicon Valley Business Journal has described Marketo as Silicon Valley's fastest-growing private-held company, growing revenue by 1,486pc between 2008 and 2010 - with 80pc of that growth from the company employing its own marketing practices.
Marketo has raised US$107m since it was founded in 2006. Further funding rounds led by Battery Ventures gave the company a US$70m war chest.
Marketo's managing director for Europe Fergus Gloster said technology is helping firms to grow out of the recession and Marketo is a case in point.
“Marketo was born out of the recession," Gloster said.
“We have seen almost 1,500pc growth in the US from 2008-2010, proving that our technology can help businesses grow even in tough economic times. When there is nowhere left to cut, the focus must be on increasing revenues," he said.