Huddle: This 32-Year-Old Entrepreneur Built A Red-Hot Startup That's Bringing In $25 Million YearlyJanuary 10, 2012
by Matthew Lynley
Huddle, an enterprise file-sharing service, is already profitable and brings in slightly less than $25 million annually, Business Insider has learned.
A source very close to the company told Business Insider it had already become profitable heading into 2012. It’s one of a number of red-hot “Enterprise 2.0” startups that are bringing lessons learned from social media sites like Facebook to the workplace.
Jive, an enterprise social network, filed to go public earlier this year and is valued at $573 million, while Box.net turned down a $500 million buyout offer earlier this year.
Competitor Box.net, which we also reported is making between $25 million and $40 million but burning $18 million annually, makes roughly the same amount in revenue, the source told us. The growth within Huddle is literally in the hundreds of percent, the source told us.
Huddle was founded in 2006 by led by 32-year-old Andy McLoughlin and Alastair Mitchell. It’s raised $14.2 million from Matrix Partners and Eden Ventures.