Friday 18 January 2019

Intercom, set up by Eoghan McCabe and Des Traynor, has been tipped for several years to become Ireland's first private company with a valuation of €1bn. Last April, the customer communication software firm closed a new funding round of €44m, which valued it at €500m. Backed by fellow Irishmen, the Collison brothers, who founded Stripe, and a veritable who's who of Silicon Valley investors, the firm claims to have a billion end-users. Clients include IBM and Microsoft and it has over €45m of annual recurring revenues, though is still not believed to be profitable.

One US backer at VC fund Social Capital has suggested it's one of very few tech start-ups that could one day be worth $10bn. The six-year-old company is split between Dublin and San Francisco. Dubliners McCabe and Traynor own just over half the company. Traynor now backs other start-ups, including French search firm Algolia and Improper Butter.

Online Editors

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