Market insights startup rakes in P27 million in revenue
In the technology startup landscape, characterized by rapid expansion often at the expense of burning capital and where profitability is commonly deferred, market insights startup Agile Data Solutions, Inc. distinctively positions itself against the prevailing trend. Notably, this unconventional strategy is proving not only feasible but also successful.
The tech startup has announced an annual net revenue of P27 million for 2023, with Cost of Goods Sold (COGS) conservatively sitting at 37%. Co-Founder and Chairman Jason Gaguan attributes the revenue growth to their sustained clientele of international fast-moving consumer goods (FMCG), telecommunications, and technology companies.
“It is our loyal base of customers, local and international companies, who want their consumer and market data fast and reliable that fuels our growth. Their continued trust and reliance on our services is what inspires us to continue to evolve quicker and better,” Mr. Gaguan said.
Agile Data gathers the insights they provide their clients through their data collection app, Hustle PH. The company boasts an active base of 50,000 users acquired organically without any social media marketing spend.
“Our thousands of… Hustle PH app users, continue to grow mainly through word of mouth and some kind-hearted influencers who share our story for free. We just suddenly see spikes in our users and find out a day or two after a famous content creator made a video about us. It just makes us very happy that people organically discover and grow to love our data-sharing and collection app,” Mr. Gaguan exclaimed.
The company started in 2021 and went into full operation in 2022, immediately going head to head with the giants of the market research field, leveraging their data gathering and data organization technology to deliver results faster, more accurately, and largely more cost-efficient.
When asked what makes Agile Data thrive in the ultra-competitive startup environment, Mr. Gaguan answered that it is their product-first mentality and fiscal discipline that powers them.
“We just follow two very basic business principles: always improve the product daily and always earn much more than what we spend. With those at the forefront of every decision we make, we are ensured that we can continue to delight our clients and thrive in any economic or business environment. We continue to find ways to scale our business through our technology rather than by spending massive amounts of cash. From my point of view, that is real sustainable growth,” he said.
