Ambition defines successful entrepreneurs. Ambition sets apart the handful of pioneers that confront fundamental problems in the world’s largest industries and create innovations that transform business and society. However, the ambition of Europe’s leading digital entrepreneurs has been questioned time and again. This is why we have consistently set ourselves the objective of setting Europe’s next ambition level.
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Dealmakers in Technology
Europe’s Flagship Companies
TITANS OF TECH
Unicorns, Dragons, Decacorns
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TITANS OF TECH: EUROPE’S FLAGSHIP COMPANIES
04 THE VIEW FROM GP BULLHOUND
Manish Madhvani, GP Bullhound
06 Chapter 1: The New Titans of the Tech World
10 EXPERT VIEW
Ilkka Paananen, Supercell
16 Chapter 2: Europe’s Flagship Tech Companies
28 EXPERT VIEW
Jitse Groen, Takeaway.com
34 Chapter 3: Focusing on the Founders
38 EXPERT VIEW
Tomer Bar-Zeev, IronSource
40 Chapter 4: Titans of Tomorrow
44 Methodology
CONTENTS
Manish Madhvani
Managing Partner
In the past, many people including us focused
on the billion-dollar valuation to define a certain
breed of success. It’s time to remind ourselves
that the valuation itself is not the most important
thing, and is just a proxy to gauge the underlying
strength of a business.
It has often been said that European tech
entrepreneurs are focused only on exits, they
are too quick to sell, and they are therefore
incapable of building serious technology and
companies of genuine scale. We believe
otherwise. Our research into Europe’s billion-dollar
technology companies has shown that there
is an army of ambitious entrepreneurs building
businesses of serious scale across the continent.
Europe is now home to 57 businesses worth a
billion dollars or more and it is even home to three
businesses valued at over $10 billion – Supercell,
Zalando and Spotify. Clearly, Europe’s technology
sector has the talent, confidence, and capital to
create a stable of healthy billion-dollar businesses;
but what next? How can we raise the ambition
level further?
As the industry surpasses these milestones with
increasing regularity, it is more important than
ever before to set the next ambition level.
Entrepreneurs must aim for new heights to scale.
This is why we have set