Vendio Announces Second Consecutive Year of Profitability
New products, more customers lead to two years of GAAP profit, no debt
"The key to Vendio's success has always been the smart sellers we serve," said Rodrigo Sales, CEO of Vendio. "As our customers look for smarter ways to build their businesses, we continue to offer services to meet their needs. This is even more true today, as online sales becomes more popular and competition is more pronounced."
Vendio's financial health is the result of new products, more customers and efficient business practices.
The company announced:
- GAAP net income increased over $500K from the previous year
- A record number of subscribers, with monthly subscriptions growing 66 percent year over year
- Expanded gross margins to 80% during the second half of 2003
- Elimination of all debt
Over the last year, Vendio invested profits in new products and services that allow merchants to build better online brands. The success of these products has greatly contributed to the company's sustained growth.
- ZoomStream -- provides fast and efficient visual detail to buyers without the burden of lengthy downloads
- Watermarking - gives sellers the ability to easily add custom logos or other brand identifiers to an image for better brand identification and image protection.
- Custom Templates for Sales Manager --- completely customizable templates, so online merchants can create uniquely branded and professional-quality listings that stand out from competitors
"Vendio's services are vital to helping us continue to grow our business with new and existing customers," said Pam Claytor, a Home & Garden Powerseller on eBay. "In order to succeed, we need to look better and act smarter then the competitors at all times. Vendio helps us do that."