Booktopia makes ‘AFR’ Fast 100 for the eighth time
Online bookseller Booktopia has made the Australian Financial Review (AFR) annual Fast 100, formerly the BRW Fast 100, for the eighth time.
Booktopia came in 75th place on the list, up from 86th place in the previous year. Its revenue was $99.7m in FY2017 ($80.7m in FY2016), with revenue growth of 37.1% over the past four years.
Booktopia CEO Tony Nash told Books+Publishing: ‘It is a remarkable achievement. We cracked the $100 million revenue mark for a trailing 12-month period in July this year. In 2007 our revenue was $2.2m. That means for the past decade our revenue has grown 46% year-on-year.’
Nash added: ‘Everyone is constantly asking me what are you going to do about Amazon? And I say, when you are everything to everyone, you simply cannot be one thing to one vertical. We have been competing with Amazon for over a decade. Australian book buyers have proven to us that if you hold stock, price competitively, deliver quickly and be an expert in your field, then you can be a legitimate alternative to Amazon.’
The AFR Fast 100 ranks companies based on the average annual growth rate over the previous four years, with a minimum of $500,000 in the first reporting period. To see the full list, click here.
Category: Local news