Algolia provides a search engine API that works across platforms and devices. Algolia's API aims to allow developers to build, optimize, and personalize search and discovery experiences for their users.
The company aims to provide companies with a search engine that helps customers find what they are searching for and includes content discovery and predictive and natural interactions.
Algolia faces a strong competition from a number of firms, including its closest rival Elastic (ESTC). This may negatively affect its long-term viability and valuation.
Algolia claims to have 7,500 customers with 20,000 applications serving 50B+ queries a month.
The company was founded in 2012 and has offices in Paris, San Francisco, Atlanta, New York City, London and Tokyo.
Since its inception Algolia has raised $74.3 million in funding over 6 rounds. According to the CEO of the company, its revenue in 2018 amounted to $40 million with GAGR 100%.
The net revenue retention rate remains at high levels (130%), indicating that the current customers of the company not only continue using the Algolia platform but will also increase their revenue contribution (for example, switch to new plans).
Currently, the company's shares are traded on the OTC market at a price of 36.5$, which corresponds to a market cap of $850 million. The expected return on investment is over 100%.