Hippo reports big growth numbers in 2011
Hippo joined the growing parade of open source content management systems that are reporting big growth numbers.
Last year Hippo grew at a rate of more than 25 percent, reports Hippo's Chief Marketing Officer Tjeerd Brenninkmeijer. And this year, the growth kept going in the first quarter. The company reports it had its best quarter ever with an impressive 75 percent CAGR for the first quarter of 2012 compared with last year.
Hippo is seeing traction across a variety of industries including government, education, finance and publishing. They report the growth is being driven by a growing network of partners and system integrators choosing their product in more than 20 countries on 6 of 7 continents.
Jeroen Verberg, Hippo's chief executive sees this as further validation of the open source and open standards approach.
"This is truly a testament to how dedication to Open Source and Open Standards is powering innovation in the enterprise. We spent a full two years in 2008 and 2009 rebuilding both the product and the company with a focus on improving each and preparing them for growth. So, we're truly an enterprise company--with the heart of a startup--and we're ready for this tremendous growth. It's great to see this strategy paying off," he said.
This comes on the heels two other positive open source company earning stories. You may recall that just last week we reported on the impressive revenue projections for WordPress, which in spite offering a free base tool is expected to earn almost $50 million this year.
Meanwhile, we reported just last month that Hippo partner Nuxeo, another open source content management platform which relies on open source and open standards, reported impressive growth.
All in all, it tells you that open source is main stream now, and it's finding ways to build a highly profitable business model on top of the base open source product.
For more information:
- see the Hippo press release