Friday, February 26, 2016
Three SoCal Startups That Beat Snapchat To $100M In Revenues
Venice-based Snapchat might be the darling of the technology startup scene, but there are at least three, privately held startups--and maybe, more--in Southern California who recently passed $100M in revenues, according to a look through recent announcements. Snapchat had reportedly been on track to hit a $100M run rate--a longtime milestone--in 2015, however, has not announced yet if it hit that goal. However, three local startups--OpenX, Steelhouse, and Thrive Market all have pushed past the $100M mark in the last few months with public announcements. OpenX said in January it just passed $140M in revenues; Steelhouse said it had $130M in revenues in 2015 at the end of January, and Thrive Market disclosed it passed a $100M run rate this week. OpenX and Steelhouse are in the online advertising industry, and Thrive Market is an e-commerce company focused on organic food.