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Saul Klein On What Companies In The Nordics Make More Than $10 Million Annually

Quora has become a great source of information for entrepreneurs, and pretty much anyone interested in a specific topic. In short, Quora is a well executed question and answer service that is currently in beta. WIth this, they've been able to choose who they want to let in while this in turn has helped them keep the quality of the answers very high. Another interesting aspect of the service that startups should take notice of, is the people they've managed to get on board. You can find lots of famous startup CEOs there answering questions and helping people understand more about their companies. Enough about Quora though. There was an interesting question in Quora regarding which Nordic companies make more than $10 million annually and Saul Klein had answered it. He answered a similar question about companies based in London that interested a lot of people, so it's definitely interesting to look into this as well.

The companies have been split into four categories, basically those who have made it in the last 10 years, in the last 5 years, those who are on the way there as well as emerging category leaders.

In the last 10 years:

In the last 5 years:

On the way:

Emerging Category Leaders:

While this is a good list, we believe the following companies should be on the list as well.

Already there


  • Blyk - Messaging platform

  • Skype - it did originate from the region, let's not forget that

  • CCP Games

On the way/Emerging category leaders:

Which other ones did we and Saul Klein miss?

Image by Joi

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Indre Milukaite January 11, 2011

GetJar (originated from Lithaunia) should be added to the "on the way" or "already there" category.

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Antti Vilpponen January 11, 2011

Indre, I agree, but this was solely a list of the Nordics. Maybe we should do one for the region as well, which would include the Baltics. I know there are several strong companies in that are that would make the list.

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Indre Milukaite January 11, 2011

I just thought that since Skype (Estonian) was included, then Lithuanian qualified as well. Sorry if I misunderstood!

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Jussi Sarkkinen January 11, 2011

Efecte belongs to the 5 year category. We bootstrapped to around 6 million euros before first investment, and turnover was over $10M in 2008

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Antti Vilpponen January 11, 2011

Indre, no harm done - always good to have discussion! :)

Jussi, thanks for the addition. Just to clarify, are you a product company or more of a mix between service and product?

The companies in the list are product companies scaling purely with that, thus allowed for the spot. Just asking this to be sure.

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Jussi Sarkkinen January 11, 2011

Antti, didn't know about that criteria, it's maybe 70/30 split products/services.

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Antti Vilpponen January 11, 2011

Thanks for the info Jussi. We could have been clearer - it was pretty general in any case.

We'll follow you guys for future references what you are up to and don't hesitate to send us your press releases in english (please) to editor@arcticstartup.com.

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saul klein January 11, 2011

guys - please add and edit on at Quora, its an evolving list and need help to keep it current and accurate - thanks, see http://qr.ae/K5qs