Today I’m talking with Daniel Fahlén of Bannerflow – a company that has built an application that allows for easy and quick banner production. They will turn over 10 million SEK this year and are also going to move to the US.
Daniel, tell us about yourself and your background
Me and my partner Daniel Jacobsson worked in a big iGaming company in Malta. Daniel J worked as a designer and when the affiliate marketing side in the company started to grow the demand for banners also grew very fast. Internal orders to the graphical department of 500 different banner files was quite common and a campaign like that takes about 5000 minutes = 83 hours = 2 weeks of work for one designer to complete manually. Daniel J was sick and tired of spending time on more or less copy pasting translations in to banner files do he quit his job and started to build a software to solve this problem (after unsuccessfully looking for a similar product). I saw the alfa/beta version of BannerFlow and was very impressed.
The same work that before took 2 weeks now took 2 hours with BannerFlow and you didn’t need any special skills in Flash to build or update advanced flash banners.
What problem does Bannerflow solve?
I immediately felt like this could be big, because the problem BannerFlow solves is one of the biggest bottle necks in the entire online marketing industry. So I was on board and we started to contact iGaming companies in October 2010 when we had a product that was good to sell.
The interest was enormous. We have since then more or less covered the entire iGaming industry in Europe and have more than 60 iGaming brands using BannerFlow on a daily basis. Brands like Ladbrokes, Unibet, Betsson, Betsafe, Expekt, Sportingbet and many more.
You’re moving the company to New York – tell us about that
We are now 10 people working in the company and our turn over this year is over 10 million SEK and we are growing very quickly right now.
The interest from other industries has been overwhelming and it seems like our solution is quite unique so that lead us to start looking at the american market. The U.S. market stands for 50% of all online marketing spend in the world so we thought that it was a good idea to aim for the biggest market. We started a year ago to do research the U.S. market and we visited a online marketing summit in New York to see if there was any interest in BannerFlow.
We were quite shocked over the response we got for our product so the day after the summit we went to the Swedish Trade Council and in the meeting we decided to go for it and start up our business in the U.S. Now one year later we have everything in place in New York and we have thousands of leads in the U.S. already to start working towards. So in the beginning of September our two employees Eric and Erik are moving to NYC.
We have been customizing BannerFlow to match to the software market in the U.S and later this year we will release an new platform in HTML5 and we will also be able to offer a self service version of BannerFlow to the U.S. market.
Our ambition is to grow very fast in the U.S. We have already been approached by some of the biggest advertising networks in the world so it seems like the product and timing is really good right now.