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“ The true spark for the subsequent growth , however , was the IPO in 2018 , going from a market cap of SEK2.2bn to SEK10bn and close to 1,000 employees around the world ” go about buying up competitor affiliates . The presentation detailed € 598m-worth of deals since 2017 . This includes the biggest deals in the sector as a whole , including the € 44m for paid media affiliate provider Atemi , the € 34.5m for esports media platform HLTV . org and , the biggest of the lot to date , the whopping € 240m laid out for the Action Network , a business which CFO Flemming Pedersen cheerfully told the assembled audience “ didn ’ t make a dime ” at the time of the deal .
DE-RISK
What the deals have done is to diversify the business , both geographically and in terms of how it derives its revenues . At the time of the IPO , Søgaard noted Better Collective was “ Google dependent ” with about 60 % of its traffic stemming from organic search results .
In terms of web traffic , that is now down to 35 % and at the same time the company now runs a number of “ very big apps ” which are also not dependent on Google .
Meanwhile , in terms of customers , the company has also moved away from a reliance on “ one very big customer ” ( i . e . Bet365 , though the name wasn ’ t
April May 2022 2023