This was the news you could not afford to miss this summer: Odoo's valuation has passed 2 billion euros following an internal financial transaction between shareholders already on board with the Belgian software vendor. Odoo can now proudly call itself a unicorn!
Although it has no impact on the company or its organization, this transaction highlights Odoo's real success and how quickly the vendor has established itself in a software market already crowded with well-known players.
The company now has more than 7 million users worldwide and is hiring at a rapid pace, going from 1,000 employees in early 2020 to 1,700 today. Its revenue is expected to reach 120 million euros this year, compared with 83 million euros last year. “Over the past 15 years, open source software has been a catalyst for growth and change in the IT industry. So to meet this challenge, we had to evolve very quickly,” says Fabien Pinckaers, who was named Manager of the Year last year by the weekly magazine Trends-Tendances.
“Together with the open source community, we have built an incredible product. Our goal remains to develop an excellent product and make it accessible to as many businesses as possible. And there is still a lot to do to help users do more in less time,” concludes Fabien Pinckaers, founder of the Belgian scale-up.