The new TechCrunch Europe Top 100 Index. Is your startup in it?

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Last summer, at the inaugural Europas Awards, we launched the TechCrunch Europe Top 100 Index of the most innovative and highest-potential European tech companies. This has been the first time anyone has tried to actually track, in a pre-defined way, early stage tech companies in Europe. We’ve now updated the Index, which is focused on mobile and web companies in the EMEA region, once more.

As you can see, there are companies that are staying in the Index, some arriving and some, alas, leaving. The companies that have made great progress in the last few months are ones that have being doing important things like generating revenue. It’s quite clear from the refreshed Index that European startups know how to make money (in particular through e-commerce, private shopping, lead-generation and games). The Silicon Valley business model of scale and user acquisition, while still a hugely important arrow in the European startups quiver, is still just part of the equation, especially in a wide European market so divided by language and regulation. Although I’d like to see more European startups thinking globally from the start, and going for growth, no-one is saying one shouldn’t have at least half an eye trained on where the business model is going to come from.

In general, the companies we took out of the list were not bad companies as such, but were simply trumped by those startups that have greater traffic, funding or revenue traction.

The Index was created by TechCrunch Europe alongside startup tracker YouNoodle. The scores and rankings are based on a sophisticated algorithm using information pulled in from thousands of online sources about early stage companies. Among others, these include key metrics such as traffic, mainstream media buzz, funding information, and opinion in the blogosphere. Of course, if a company is actually pulling in revenues, or even in profit, it also gets ranked higher. Each company is given a “YouNoodle Score” which is a measurement, on a scale of 0 to 100, of a startup’s progress as an early-stage company.

Typically, a 0-15 company is just getting started, a 30-60 company has experienced some very strong growth (through traffic, funding, or revenue), and a 90-plus company is a strong acquisition candidate, or perhaps even close to IPO-level. Cleantech and gadget companies sometimes have a presence on the list, e.g Modu.

If you think we’re missing something, want to recommend a company, or have any questions, the first line of enquiry is our partner YouNoodle. Contact Kirill Makharinsky over at YouNoodle via kirill[AT] or @kirill on Twitter – he is running the details on this Index for us.

You can see the new Index here but here are some highlights.

Examples of startup trends by category

1. Private Shopping clubs: Brands4friends, markafoni, Ventee-Privee
2. Ecommerce & Lead Gen: eCommera, Stylight, Just-Eat, Graze, Skimbit
3. Consumer software: Dailybooth, Pandora, Tweetmeme, Tuenti, Aka Aki, MyHeritage
4. Entertainment shopping: Swoopo
5. Gaming: Moshi Monsters, Natural Motion, Spilgames.
6. Carbon Footprint, CSR: AMEE, Ecovadis
7. Mobile: Infogin, Mobank
8. SaaS: Eventovate, Patients Know Best

Standout examples of hot companies

Spotify (up 8 points)
Why? Increasing activity, buzz surrounding possible US launch. It just took the invitation-only lock off in France. What can we say, simply everyone is talking about Spotify, whether we like it or not.

Soundcloud (up 7 points)
Why? Continued traffic growth, plus great new moves. It has a new iPhone app out, new services and new partnerships with key players like The Hype Machine.

Plastic Logic (up 15 points)
Why? Plastic Logic is building an electronic book reader / e-reader using its plastic displays which are flexible, very light weight and much more robust than traditional glass-based displays. They’ve had growth and buzz following their announcements at CES.

Voddler (up 17 points)
Why? Growth and recent funding. The movie-streaming service (the so-called ”Spotify for movies”) has received about 3.4 million Euros (35 million SEK) in funding from a group of private investors. The service now has about 70,000 users.

eRepublik (up 6 points)
Why? This social strategy game has had continued traffic growth over the last 3 months and recently appointed the highly experienced Internet entrepreneur Toby Rowland to its board. eRepublik Labs was founded in 2007 and is backed to the tune of €2.75m from AGF Private Equity in addition to various angels.

Zendesk (up 9 points)
Why? Zendesk is on something of a roll. It’s had continued progress following its funding round in August 2009 and is creating fascinating competition with big US player GetSatisfaction.

Iminent (up 6 points)
Why? The Paris, France based Iminent offers users a variety of premium products to enhance instant messaging with extravagant emoticons and video features. This is virtual goods at their most virtual. You can’t deny that kids love it for IM and it’s had strong traffic growth based on all public metrics. It has €5.4 million in VC backing.

KupiVIP (up 8 points)
Why? Continued traffic growth, and funding. The Russian is not unlike the French Vente Privée but with access to a much bigger potential market. It recently raised a monster round of $20 million in venture funding led by Accel Partners and joined by prior investors Mangrove Capital Partners, ARLAN, Direct Group and angel Oliver Jung. In March 2009, had raised $8 million on top of its Series A round of $3 million, so this new capital injection brings the amount of investement to a healthy $31 million. sells discounted fashion goods from over 500 active brands, an offer that has so far attracted 1 million members to its online club.

Bambuser (up 7 points)
Why? Bambuser is killing it. It’s had a successful launch of its iPhone app, way ahead of big US rival Qik. It’s also partnering with broadcasters an interesting business model which will actually bring in revenues.

Playfire (up 6 points)
Why? Funding in December and continued traffic growth. Late last year Playfire, a social network for gamers, secured $2.1m (£1.3m) of Series A funding from Atomico Ventures, in conjunction with Michael Birch, Brent Hoberman, William Reeve and Alex Chesterman and David Gardner. Playfire lets gamers track scores and rankings on Microsoft’s Xbox 360 and Sony’s PlayStation 3, as well as providing discussion forums and alerts to new content, such as news and videos. Twenty-two year old O’Neil, of course, is best known for his association with video sharing site HolyLemon, a web property he founded as a 15-year old student and later sold for $1.25m in 2007 at the age of nineteen.

Jimdo (up 4 points)
Why? Continued strong traffic growth and new partnerships. ISP United Internet has a 30% stake in the startup which markets a simple tool that allows users to build their own websites with little time and effort.

Companies new to the TechCrunch Europe Top 100

Below you’re find the companies that are entering the TechCrunch Europe Top 100 for the first time. The company’s name is following by the funding they have (if known) and a short description of why they are entering the Index.

Skimbit – UK $1,200,000 Awards & Traction
Tweetmeme – UK € 350,000 Traction.
Markafoni – Turkey Revenue Traction. Funding.
Globoforce – Ireland $11,200,000 Fast Growth.
Natural Motion – UK Traction, uptake in games like Ashes 2009.
Inspirational Stores – France €10m Euro Funding Round.
Ecovadis – France $1,400,000 Profitable. Fortune 2000 Customers. CSR Software. Co-founder of MrTed.
Fotonauts – France $2,300,000 Ex-Apple CTO, Launch, TAG Funded.
Vente-Privee – France Very strong revenue.
Stylight – Germany Strong revenue.
Eventovate – Ireland $500,000 Growth. Revenue.
Equiendo – Ireland $1,960,000 Growth. Revenue.
Mobank – UK £750,000 Founders of Egg, Traction.
Rebtel – UK £3,400,000 Controls a lot of call volume across international borders.
Dailybooth – UK/US $1,015,000 6m uniques. $1m funding from Sequoia, and major angels.
AMEE – UK $1,000,000 USV & TAG Funded. Huge Market.
eCommera – UK £5,000,000 Founder of Figleaves. 5m pound funding.
Swoopo – Germany $10,000,000 Revenue & Traction. Raised money from August Capital.
Graze – UK £1,400,000 Traction.
Infogin – $10,000,000 Growth & Traction.
MyHeritage – Israel $24,000,000 Activity & Traffic.
Shazam – UK $20,000,000 Kleiner Perkins Investment, 50 million users.
Patients Know Best – Cambridge, UK € 50,00 Seedcamp investment. Investment activity in play.
Just-Eat – Denmark £10,500,000 Index Investment. Global Expansion.
Elecsnet – Russia Strong Revenue Traction.
Spilgames – Netherlands Strong traffic.
Brands4friends – Germany € 12,000,000 Private Shopping. Strong Revenue Traction.
aka-aki networks – “several million Euros” Traction, recent investment.
Mind Candy – $10,000,000 Moshi Monsters profitable.
Tuenti – Spain 20 Billion pageviews, Facebook of Spain.
Layar – Holland, Buzz, Activity.
Voddler – Sweden – Funding and user traction
Scoreloop – Germany €2 million cash injection

Companies leaving the TechCrunch Europe Top 100

Here’s a list of companies that are now out of the Top 100. As we said before, the Top 100 is based around buzz, funding, revenues and traffic events. Most of these companies have just been pushed out by other companies scoring higher on those kinds of rankings. Some have been pushed out because they have been sold and absorbed (like Spinvox) or are established enough to cruise for a while and are this not producing buzz/high growth/funding events. It may be that they’ll be back. (Though Spinvox I doubt).

Mister Wong
Realtime Worlds
School of Everything
Decisions for Heroes
My Name is E

  • Duane Jackson

    Oi, where’s KashFlow? : )

    • website check

      Never heard about it, great list aggregates there, but I somehow can’t see any trend there, or am I just missing it? do you have any trend for succesfull companies on the index?

  • Marco

    Ups .. what about us? Our value is 23


  • Jason

    Russia is not in Europe.

    Just so you know.

    • Bastian Lehmann

      Russia is not in Europe? Really?

      Last time i checked Russia is considered a transcontinental country in Eastern Europe and Northern Asia, divided by the Ural mountains. On top of that, less than 5% of the population live in the Asian part.

      I think it’s save to classify large parts of Russia as European.

      • Danny

        Yep, generally the part known as ‘European Russia’, the bit west of the Ural mountains

      • Mike Butcher


    • Chris

      Russia is not in Europe?

      Do you need your head checked?

      A large part of Russia is indeed in Asia but there is a large European part and Russian culture is western and Russians are Europeans. If you don’t know this or disagree then either you’re a racist from one of the Baltic states or are very poorly educated.

  • Monty Berlin

    plista is missing. They are the RedHerring Winner in Europe and also RedHerring 100 Global. Why they are not listed?

    • Mark

      As rumors said, they are going to announce a new VC round in the near future… that’s probably gonna get them in the ranking.

      — Mark

  • Peter

    “Eventovate – Ireland $500,000 Growth. Revenue. Rumored valuation over $1B.”


    Has TechCrunch never heard of Statcounter? That’s an actual bona fide Irish web success. Indeed a web success under any terms. Been around for yonks, millions of members, 7 figures in revenue a year, turns a very healthy profit. Never took a cent in VC. Started in a bedroom.

    How could they not be on a list like this?

    • Rob

      Yes, StatCounter would be a good inclusion, based on the numbers.

    • Andreas

      A counter that was build 1999? You are kidding me.

  • MiLo

    What about pearltrees?

  • Guy Westlake

    Shame not to see Shutl featured!

  • JoHn

    what about PodSwarm?? its not even on the list….

  • Vee

    Where’s LoomTV?

  • Joakim Ditlev

    Any reason why Zmags is pushed out of the list? Younoodle score is stable on around 45 and the company qualified for an entry last year.

  • Mike Butcher

    Thanks for everyone’s feedback so far, keep it coming. We’re going to be feeding it all into the next iteration of the Index at the end of the first Quarter. Thanks.

  • JD

    Yep Pilsta & Pearltrees are missing, and so is Great Index though, well done Mike.

  • PeterWWW

    How about more CEE companies

    eg., (good growth, first fortune 500 clients, starting to break event) << files search engine with tremendous growth in recent months << niche market but very profitable, great product and fast adoption of all new rends, and very passionate CEO (check ytheir videos)

    you might also check

  • Wendy Tan White

    Younger than figleaves, younoodle score 40.
    Record revenues again Jan 2010.

  • Chris

    I don’t understand why Zamzar isn’t in this index – YouNoodle score of 52, Alexa top 6000, revenue positive, great growth and a Guardian “top 100” company.

  • Shafqat

    Quick question – is the list based on YouNoodle scores? We’re (NewsCred) based in Europe, have aconsumer and B2B web app etc so fit the minimum criteria for eligibility. Our YouNoodle score is higher than some of the ones on this list. So just wondering if there is some further filtering after the score and regional eligibility?

  • Alex Halliday

    Would have been good to see SocialGO mentioned in there. Great start to the year for us, more to come.

  • Alex
  • Steve

    RE Jimdo: you need to check your source again. I hear that United Internet does not own 30% — anymore.

  • Oog

    If it loses me money like the Wired 100 index of the late 90s, I’m definitely in.

  • jef

    hey guys, Zanox is not a start up…it´s been created almost 10 years ago…

    • Mike Butcher

      This Index is not exclusively about pure startups it’s about high-growth tech companies

  • Klaus Nyengaard

    Great to be on the list, thanks. However, if you really knew about the momentum we have in our business, especially, then I think you would lift us up quite substantially. Looking forward to the update a year from now.

  • Marco

    Calling BS on this … You Noodle have a proprietary, oh-so-secret black-box algorithm that can predict startup success or failure?. I’d love to see the actual statistical basis of that one. Perhaps they’d like to predict the success of my new perpetual-motion machine, and invest accordingly?

    But of course that’s only one factor in the creation of this list – there’s “traction” (???) and revenues / investment (as generally reported in the companies’ own press releases, dutifully replicated without question by TC Europe).

    Without a consistent and published methodology, an utterly pointless exercise.

    • Mike Butcher

      Not happy? Do your own list.

      • Marco

        Sweet comeback – p3wned me there!

        A more valid response might be to actually explain how you’ve arrived at the list? Why you believe Younoodle to have a valid statistical prediction model? What “traction” means? Even if you just picked the names out of a hat, an exercise like this needs an explanation – any explanation – to have any plausibility whatsoever. Repeatedly saying you have a “sophisticated algorithm” doesn’t quite cut it, particularly when you’re talking to a broadly technical TC audience.

        Doubt you’d get away with anything as sloppy as this in the US, where there’s still a culture of credibility in journalism.

      • Gabriel Aldamiz-echevarria


  • CouponFreaks

    Are you in it? HA! I wish we were. Some great company’s listed, just shows how well Europe is doing at the moment.

  • jeff coe

    I am sorry but this list reminds me of a top 100 albums of all time! As the metrics used and the so called “science” behind the calculations are way to vague to be of any value. Saying this though, everyone loves a list, so no harm done, I just don’t think people should get too worked up if they are on the list, off the list or anywhere in particular, as it all comes down to profitability or brand value in the end, and if you exit at 1 billion your a legend, but if you burn 100 million in VC and shut the doors, you are a failure! Thats the science we all understand!

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