Congratulations to Budge Studios for ranking 4th on Canada's Technology Fast 50!
Montreal's Budge Studios officially made Deloitte’s Technology Fast 50 list for 2015. The children's mobile application company founded in 2010 recorded a 2487% revenue growth over the last four years, ranking it 4th on the list. BDC Capital has been a proud partner of Budge since 2012 and is pleased to acknowledge the company’s success.
Early on, Budge Studios developed applications for companies such as Disney and Nickelodeon. For example, it created series of applications with Dora the Explorer, as well as with Mike Wazowski and Sulley from Monsters, Inc. "But this business model, in which we had no control over the application once it was delivered, had its limits," explains Noémie Dupuy, one of Budge's three co‑founders.
However, Budge's first successes enabled it to alter its relationship with brand owners. "Today, we continue to develop applications around major brands, like Strawberry Shortcake, Crayola, Caillou, Garfield, The Smurfs, etc.," explains Noémie Dupuy, "but now we do it under licence and we own the applications. This means we can build our catalogue, manage the marketing process and benefit from sales in the long term." Budge's rapid growth is largely due to this evolution in strategy.
Budge now has 92 employees. BDC Capital granted the company a mezzanine loan in its early days to finance the production of its applications, and it recently became a shareholder to accelerate its growth.
Congratulations are in order as well for the other BDC Capital clients who made it to the Technology Fast 50 this year.