Popular design crowdsourcing site 99designs is on a roll. In its eighth consecutive year of double-digit growth, a 99designs rebrand has been announced and the company reveals it has achieved revenue of nearly $60 million.
According to 99designs proprietary financial data, designer payouts are now averaging $3.5 million a month and have reached $142 million lifetime, which is best in class in the online graphic design industry.
To celebrate the feat, a rebrand for 99designs was implemented. The company unveiled a new look and a logo, which was appropriately chosen from a contest the company ran on its site.
99designs President and CEO Patrick Llewellyn in a press statement said, “We enjoyed our best year yet in 2015 as we achieved nearly $60 million in revenue, including a 50 percent year-over-year growth in our 1-to-1 Projects service that now accounts for 15 percent of all revenue.”
The 1-to-1 Projects service simplifies design work by letting businesses invite a designer, collaborate, provide feedback, release the payment and get full ownership of the work once it’s done.
Apart from offering a host of design services, 99designs has been focusing on expanding globally, and that has paid off well for the company. Markets that have contributed the most are the U.S., Australia, the U.K., Canada, and Germany, while Japan has emerged as the fastest growing territory.
Llewellyn remarked, “Our success is driven by our single-minded focus on solving the significant challenges that exist in the global design market. By continually investing in the quality of our design community and the tools that allow them to connect and collaborate with customers online, we’re attracting a larger segment of premium customers to 99designs. This will fuel our growth in 2016 and beyond.”
What’s equally interesting is how 99designs is leveraging its success to better position itself in the market. The 99design rebrand will showcase the company and its great designs and attract more customers.
For its new logo, 99designs ran a contest and received more than 4,000 entries from 556 designers all around the world. The winning logo was designed by a self-taught designer from Indonesia. “We wanted an identity that didn’t take center stage, we’ve reserved the spotlight for our community. But we still wanted something strong, simple and quietly confident,” Llewellyn said about the 99design rebrand.
Founded in 2008, 99designs is the world’s largest on-demand design marketplace. The company caters to the design needs of entrepreneurs and small businesses. It is headquartered in Oakland, California, and has operations in Germany, Brazil, Japan, and Australia.
This article, “99Designs Rebrand Announced, Proprietary Financial Data Released” was first published on Small Business Trends
Source: Small Business Trends