COLUMBUS, Ohio, Oct. 10, 2016 /PRNewswire/ -- DOmedia was recognized as the fastest growing private company in Central Ohio by Columbus Business First. The firm, which produces the leading software suite for buying and selling out-of-home (OOH) advertising, such as billboards, grew over 500% in 2015.
On October 6, 2016, DOmedia was recognized for its rapid growth at the Columbus Business First "Fast 50 Awards" reception. The program, which identifies Central Ohio's 50 fastest-growing companies based on average revenue growth over a three-year period, found that DOmedia's growth outpaced all other honorees. DOmedia's software automates and accelerates business processes for agencies and media vendors in the $7.3 billion out-of-home media industry. The company projects its technology powered over 7% of the 2015 U.S. OOH spend.
"We have a dominant position in the marketplace right now," said Jeremy Float, VP of Market Demand at DOmedia. "In terms of market share, we are the largest — but we still have a huge opportunity for growth in the coming years."
The firm's incredible growth is the result of years of close cooperation with some of the industry's largest players. DOmedia's database of OOH vendors includes over 1400 firms, reflecting the lack of standardization in the OOH market compared to other media formats.
"DOmedia was created to help connect buyers and sellers in an extremely fragmented industry, but that fragmentation made it difficult to reach 'critical mass' in terms of adoption," said Ken Sahlin, CEO of DOmedia. "Now that we have crossed that barrier, it will be extremely hard for anyone else to compete with us, which is why many 'marketplace'-type businesses are winner-take-all."
Though DOmedia does not disclose exact figures, the firm is currently on track to double revenue again through 2017. Throughout 2016, DOmedia has been laying the framework for its next stage of growth. In January, it opened its DSP (demand-side platform) to small and medium-sized agencies. In April, the firm launched an integrated SSP (supply-side platform) at the annual OAAA/TAB conference in Boca Raton. Within three months of that launch, DOmedia had signed agreements with OOH media vendors representing over $300 million in annual revenue.
Going forward, DOmedia has pledged to continue closing the gap between media buyers and sellers, reducing the time it takes to plan and buy OOH media through automation and assisting the industry on a path toward "programmatic" media buying, a technology which has fueled dramatic growth in digital advertising.
"Our goal is to make it so that anyone can plan and buy OOH media at 2AM in their pajamas," said Sahlin. "That is what modern, techno-literate, buyers expect, and we will make sure the OOH industry is able to meet those expectations."
DOmedia is an independent technology company on a mission to change the way out-of-home media is bought and sold. DOmedia's cloud-based applications connect buyers and sellers to leverage marketplace effects, eliminate redundancy and improve reporting and analytics. The firm's software is already empowering leading agencies, vendors and brands. For more information about DOmedia, visit DOmedia.com or contact Ian Bowman-Henderson at (513) 508-4237.
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