Letter from the CEO.
Letter from the CEO.
A message from Dorin Boerescu, CEO and principal 2Performant shareholder.
CEO and principal shareholder
The world’s currently most valuable company, Amazon, was founded just 26 years ago. One of the most powerful global brands, the iPhone, is 10 years younger. Facebook, the social network that’s been decisively influencing world politics and economics for years now, was launched at that time, as well.
Journalism, music, relationships, transportation, tourism, recruitment, entertainment, have all been, one by one, profoundly transformed once there was generalized access to global connectivity and high computing power.
I was lucky to be among the first to understand the way that the Internet would change the world. Beyond instantaneous communication and practically infinite access to information, I knew that a new digital generation of professionals would emerge, the new batch of talent that the economy would need and use for the new infrastructure. I had the inspiration and perseverance to build a viable option for them.
Lucian, 28 years old, digital marketing entrepreneur from Timișoara.
Claudia, 37 years old, fashion blogger and digital entrepreneur, Bucharest.
Dragoș, 35 years old, online advertising specialist from Tulcea.
Ligia, 60 years old, PPC specialist, and online entrepreneur from Bucharest.
Ionela, 30 years old, affiliate project manager, Helsinki.
Octavian, 36 years old, Google ads specialist and eCommerce entrepreneur, Bucharest.
Andreea, 29 years old, fashion and beauty vlogger, Bucharest.
Zsolt, 45 years old, online specialist, Budapest.
Lavinia, 35 years old, online marketer, Iași.
Bogdan, 44 years old, blogger specialized in literary reviews, Bucharest.
These people quickly understood that they could offer value and generate income outside the scope of a traditional job, that they could set their own objectives, rules, and work standards, by taking advantage of the freedom brought about by the collaborative economy. They understood that digitalization can help them earn what they deserve, directly proportional to the performance that they are capable of delivering.
Perseverant and motivated, with a good capacity to adapt, the 2020 digital natives live in a completely different world than the professionals of the old economy. For them, remote work, video conferences, or setting their own schedule, were nothing new in the pandemic. These people are by far the most prepared to work within the new paradigm created by the recently accelerated digitalization.
They are our users.
It is around them that we have built 2Performant’s mission, which is to sustain a new generation of digital entrepreneurs and in so doing, to generate value for all parties involved, including us as a business and as shareholders.
To begin with, we decided to achieve this through collaborative e-commerce marketing. We’ve built a platform that enables online stores and independent marketing professionals to work together seamlessly, following a model that’s transparent, and equitable for both parties: cost per sale advertising. We’ve built an infrastructure that fully eliminates bureaucracy and aides users, companies, and digital natives, to only take care of that beautiful part of their activity: marketing.
We have completely digitized thousands of business relationships in the new economy, whilst also allowing our users to stay connected to the „traditional” economy – we retain and pay taxes to the state in their name, we provide income statements based on which they can access bank loans, or be provided with health services.
Through 2Performant, thousands of affiliates today collaborate with Orange, Decathlon, Elefant, Libris, FashionDays, Cărturești, Noriel, and all of the over 600 online stores that use our platform daily. Through the collaborations we’ve facilitated, over 5 million online sales were generated, with a total value surpassing 220 million euros. As a result, thousands of independent professionals cashed in 15 million euros.
We have a real impact on the lives of many people and in the e-commerce landscape in Romania. Our vision for 2Performant goes a lot farther.
Globally, affiliate marketing is an industry registering sustained growth, with serious investments and an annual impact of tens of billions of dollars.
Our approach, based on transparency and democratization, has helped us outpace the industry growth, and today we are the market leader in Romania, with 10% of our income coming from companies from other CEE markets. In these 12 years, we have not only developed an infrastructure and a technology, but also a scalable and profitable business model that is unique in many ways.
The 2Performant team has demonstrated time and again that it has the motivation, the competence, and the maturity to manage accelerated growths just as effectively as it deals with challenging periods – a capacity yet again revealed in 2020, the company’s best year to date. We believed in our vision, we had the perseverance to build a healthy and sustainable business, we learned a lot, and we’ve worked even harder to overcome all of the challenges that a Romanian tech start-up is likely to encounter.
The natural course for us at this moment is to have our company listed on the Bucharest Stock Exchange.
I am convinced that this is the healthiest financing route for tech companies and that the marrying of the capital available on the Bucharest Stock Exchange with the potential of Romanian tech companies can bring important changes to our economy in the years to come. I’m waiting for as many tech entrepreneurs as possible to join us on the Bucharest Stock Exchange.
We come on the Stock Exchange with a valid business model and a proven growth capacity. We have experience working with investors and we are recognized across the industries we’ve been active in for the positive impact we’ve had. We come to be connected with a financing infrastructure that will help us accelerate our growth in the coming years.
We’ve decided to approach this in two steps: a technical listing, in which the management and the 2Performant founders will not sell shares, followed by a capital financing round for growth, after we will have aligned our mindset and expectations with those of the active investors in Romania.
We would like to be joined by investors who understand the potential of the new economy, with whom to grow by taking advantage of our position in the market and the technology we’ve built, but also of the superior understanding of trends.
We are not rushing. We are 2Performant shareholders too. We are not interested in selling the company or preparing for an exit. We believe in this business and we want to take it to its maximum potential.
I am grateful to our partners who have helped write the 2Performant story: our extraordinary team, our community of users, our board, our investors, and other business partners. This is my proposition to you today: not just an investment, but a partnership for the future. A partnership in which invested capital will be treated responsibly to generate performance, and in which we’ll be transparent and open with our investors.
Please read our memorandum in its entirety. I hope it will succeed in telling the story of 2Performant and our industry, but to also clearly demonstrate our approach and the potential at hand.
I hope to see you at the next 2Performant Network SA SGM.