Estonian beverage manufacturer Punch Drinks started manufacturing disinfectants in order to help contain the spread of COVID-19 virus in Estonia. The sanitizers are available in e-shop, Bolt Food and soon pharmacies across Estonia.

„In the light of the corona virus we decided that it is our duty to help our country and people in these difficult times. We had the production capacity and capability, so shifting temporarily our strategy seemed the only reasonable thing to do,“ said Kristjan-Walter Kask, the CEO of Punch Drinks.

Punch Drinks, whose main products are organic craft soft drinks and cocktails, quickly familiarized themselves with the regulations and requirements needed for the disinfectant manufacturing and rearranged their current production processes. “We didn’t hesitate in the production for a second, but were dependent on how we could obtain the needed permits and certificates. We’re glad that the Health Board was on board from the minute we contacted them and fastened the bureaucratic processes to issue the certificates,” explained Kask.  He added that Punch Sanitizers are officially approved by the Health Board, for which the biocidal product registration has been issued.

Entrepreneurs share the responsibility to help during crisis

To increase the production capability, Thomas Padovani together with the Webinfluence Group and Bellone Invest made a quick investment decision, when heard that Punch Drinks wanted to expand their activity. “I strongly believe that all entrepreneurs have a responsibility to help to fight this virus, if possible. We appreciate Punch Drinks’s commitment to contribute to the community and safety of all of us,” explained Thomas Padovani. He added that even though they currently invested to help to increase the production of sanitizers, they see great potential of Punch Drinks becoming a strong player. “The ambitions of Punch are strong in our region. There is a clear market demand for organic crafted drinks elaborated by top bar tenders,” noted Padovani.

Padovani brought out that during the crisis they try to be there for all their current investments and partners to go through the crisis together. “Nobody knows at the moment how deep the fall will exactly be. One could never imagine that the world and economy could be paused like this, so this is completely a new situation. Therefore, we do our best to help to ease the situation for our partners,” said Padovani.

Available in e-shop, Bolt Food and pharmacies

Punch Sanitizer antiseptic sprays effectively kill bacteria, yeasts, mold and viruses. In addition, the product is colourless and fragrance-free, and suitable for both professional and home use. “Today we are able to produce around 4000L of sanitizers a day, but we hope to increase that up to 6000L a day. We do our best to ensure the supply of raw materials, which is very unpredictable in today’s circumstances,” said Kask.

He noted that if they find a partner abroad they could also start exporting. “At the moment we have the biocidal product permit only for Estonia and currently there is no single Estonian company who has been listed as biocidal producers abroad. If we find a partner, who would have needed licenses, then we would be ready to export,” explained Kask.

Currently the sanitizers are sold in Punch Drinks e-shop in different sizes and quantities, but soon also available in Bolt Food and pharmacies. “We have sealed a deal with Magnum Medical, which means that our sanitizers will be available in pharmacies across Estonia. We’re actively searching for new retailers to make the product available to all citizens and companies in need,” stressed Kask. He added that their goal is not to earn easy income during the crisis and therefore have kept their pricing reasonable and competitive.

Additional information: https://punch-drinks.com/sanitizer

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Baltic startups have created over €5 billion in value since 2013.
 2018 was a record year for VC Investments in the Baltic states. The total amount of VC raised by companies in the Baltic States hit €534 million in 2018.

Across the Baltics, over €1.5 billion has been invested since 2013, as a result of several large VC rounds such as Bolt, Citybee, Monese, Vinted, Pipedrive, Starship. And its showing a substantial growth since 2013.

Venture Capital investments average growth from 2013 has been rising +88% in Estonia, while Lithuania’s growth rate is booming with +135%. Latvia is still in very moderate stages regarding startup growth and VC investments, compared to Estonia and Lithuania.
By invested venture capital, Estonia is still ranking #1, with €1,173B, while Lithuania is ranking #4 with €375M, according to the latest report.

One-third of the total unicorns in Central & Eastern Europe are created in the Baltics.

The Baltic region has created one third of total unicorns in Central & Eastern Europe, and 3% of unicorns in total Europe, worth a combined €12 billion. Estonia is leading the way in Baltics, with 4 unicorns: Bolt, TransfereWise, Playtech and Skype. While Lithuania has just crowned it’s first Unicorn Vinted, who raised €128M in a funding round that valued it at more than 1 billion euros, making it Lithuania’s first tech unicorn.

“For investors, it is surely interesting to keep a look-out to the Baltic and Northern European countries. Estonia has created a strong and proven track record of successful startups and is still strongly moving forward. But it is worth mentioning to keep a strong eye on the other booming countries, such as Lithuania and Latvia, who are showing a growing number of rising stars”, says Thomas Padovani from Bellon Invest.

The future looks promising


The investments into Estonian startups are still strongly on the rise and the proven track record of creating internationally successful businesses, creates trust for future growth. “Of course, as the first digital nation on the planet, this also creates extra buzz and attracts more interest to look into Estonia,” says Padovani.

It is already clearly seen that the interest from foreign Investors is increasing in Lithuanian tech startups, especially from Western Europe and the USA. Like Estonia, as the leading country of digital technology and startup business scene, Lithuania is also strongly rising up with their business favourable & regulation friendly environment.

For more details, take a look at the report by Dealroom.co for more insights on the Baltic countries startup ecosystem.

Thomas Padovani, after stepping down from the CEO position of Adcash, is now strongly focusing on investing in to startups all over the world through his investment company Bellone Invest, keeping a strong eye and interest on the booming Baltic startup scene. Thomas Padovani, together with Webinfluence Group, was one of the first investors to the Estonian Unicorn Bolt.

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EU-Startups.com ranked Estonia among three of the best European countries to set up a startup. Estonia is an attractive destination for startups because of its powerful educational system, highly digitized procedures, ease to obtain work and entrepreneurial visa.

According to EU-Startups.com, Estonia is different from any other region in the world. The online publication points out that Estonian government has long advocated entrepreneur-friendly tax policies and has created aggressive incentives to attract foreign investors, especially in IT and some other niche segments like FinTech.

In terms of the entrepreneurial employee activity and competitiveness Estonia ranks the first in Europe and in terms of number of startups per capita – third. There are 550 startups in Estonia ready to conquer the world, following the four Estonian unicorns: Skype, Playtech, TransferWise and Bolt.

EU-Startups.com also points out that Estonia has a very flexible corporate tax framework that attracts many foreign companies to start their activities here.

The country has no corporate income tax on retained and reinvested profits. This means that the tax system is particularly suitable for companies that are planning rapid international growth – you can spend the funds you would otherwise pay as taxes to the government, on innovating.

Estonia’s e-Residency program is world-famous as it was the first of its kind anywhere on Earth and as the country’s e-residents can manage their Estonian company remotely.

Forbes reported already in June 2019, that upcoming startup hubs such as Tallinn are attracting heavy investment, with still plenty of room to grow.

World-class human capital, unique digital capabilities, a competitive business environment with advantageous tax system make Estonia a smart, agile location for businesses with global ambitions.

Source

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Artificial Intelligence is taking the world by storm. Where does Estonia stand in the AI ecosystem? Are Estonian businesses ready for AI?

We know that tech giants like Amazon, Baidu, Facebook and Google have AI advantages like collecting enormous amounts of data, access to top talent, huge investments to R&D, over smaller companies. However, the possibilities offered by AI are not reserved only for the largest companies and biggest economies.

Estonia is looking for ways how to attract international talent and investments; and on the other hand, its small size with limited resources requires the public administration and government to work efficiently. No wonder that in Estonia, both government and companies have noticed the potential of AI technologies to solve these current demographic and economic challenges, as the impact of AI on GDP in the Nordics alone is expected to be considerable: 9.9% of GDP (1.8 trillion).

Where does Estonia stand today in terms of AI readiness?

There is a large spread of AI readiness in Europe, but even the most advanced countries are lagging behind the US AI frontier. Yet, Europe’s ability to capture the full potential of AI varies significantly among countries. According to the mapping of Europe’s AI ecosystem four countries stand out as dominant players in driving Europe’s AI ecosystem — UK, France, Germany and Spain — and are known to have most vibrant and mature AI landscapes in Europe.

According to study by Roland Berger and France Digitale, Estonia has excellent prerequisites for benefiting from the application of artificial intelligence and is becoming influential AI player in Europe.
Whereas EU leaders of AI application are home to 67% of AI startups, Estonia with other Nordic and Baltic countries shows density dynamism i.e high number of startups per population size.

Compared to dominant players and other governments working on their AI strategies, Estonia sees its strength as an AI implementation leader for startups and AI applications.

For example by 2020 Estonian government has launched 50 different AI applications in public services and the country’s most well-known scaleups (Bolt, TransferWise, Pipedrive) as well as early stage AI-powered startups (Sixfold, AlphaBlues, Feelingstream) have turned to data and machine learning to maximise their product delivery.

At the same time Estonia doesn’t let the AI frenzy and need to speedy implementation of AI compromise data privacy and safety. Estonia plans to keep AI applications safe for its people and for the protection of private data. Estonia wishes to be the place where AI applications are developed in accordance with privacy and safety requirements.

Era of AI implementation

In his book AI Superpowers technologist Kai-Fu Lee argues that “Much of the difficult but abstract work of AI research has been done, and it’s now time for entrepreneurs to roll up their sleeves and get down to the dirty work of turning algorithms into sustainable businesses.”

Which Estonian companies are riding on the implementation wave right now?

But first you might ask, what makes a startup into an “AI startup”. For this article we call both producers and users of artificial intelligence as “AI startups”. It’s hard to calculate the total number of startups and companies in Estonia as AI is not a single technology, but consists of various elements.

Read more here to find out about the 13 examples of AI-powered companies from early stage startups to mature scale-ups, and bring out a few government AI applications that are using data and machine learning to either reshape product, automate, and on the other hand, bring out some more transformative companies who have created new business models with data.

Source

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There are currently around 550 startups in Estonia from a variety of sectors including Fintech, Greentech and beyond. While looking at the main indicators – number of people employed (3763 in 2018), employment taxes paid (46M EUR in 2018) – we are seeing a steady 30% yearly growth in the sector.

The top 20 startups in Estonia account for an astonishing 62% of the new jobs created by startups in 2018. TransferWise has been the biggest recruiter (+239) followed by Bolt (formerly Taxify) (+92), Monese (+57), Veriff (+54) and Pipedrive (+53). 

Another important element of a successful startup ecosystem are investments. Since 2010, the proportion of investments raised from abroad for Estonian startups has been growing year-by-year, reaching the highest percentage in 2018 (96.3%). The increased interest of foreign investors confirms that Estonian startups are being noticed globally, we have a strong startup ecosystem and a credible, transparent, business environment.

In 2018, investments into Estonian startups have, for the first time, exceeded 300M EUR, reaching 328M EUR announced publicly. By far the biggest investment (150M EUR) was made into Bolt (formerly Taxify) and that investment round upgraded Bolt to unicorn status. Bolt was followed by Pipedrive (43M EUR+8.7M EUR), Monese (51.6M EUR), Starship Technologies (21.4M EUR) and Realeyes (13.5M EUR). So far, Estonia has produced four billion-dollar unicorns: Skype, Playtech, TransferWise and Bolt as well as a dozen other startups valued over 100M EUR each.

Estonian startup ecosystem might be small but it is very international. The key role of increasing the international community over the past two years has been performed by the Estonian Startup Visa. The Startup Visa helps non-EU founders grow their startup in Estonia and it also makes it easy for Estonian startups to hire non-EU talent. In the first two years since the launch,  1108 applications were received from more than 80 countries and 931 people altogether have relocated to Estonia or been granted the right to do so. Although we are expecting more and more founders to find their way to Estonia and become employers themselves, it is clear that the need for talent in Estonian startups is growing significantly. 2018 was a record year of investments in Estonian startups; the funds are directly connected to the increase in available jobs. There are jobs available not only for developers but also marketers, sales people, customer support, designers, etc.

A huge role in the development of our startup ecosystem is played by organisations and service providers who support the growth of our startups. At the end of 2018 we counted 103 such organisations, meaning we have roughly 1 organisation per 5 startups! The ‘’by-product’’ of support organisations is a strong giving-back mentality within its network of mentors, with entrepreneurs who have been active for more than 10 years in Estonian startups like Fortumo, TransferWise, Bolt, Starship Technologies and Pipedrive. The strength of our ecosystem is definitely its people – thought leaders who help to shape the ecosystem with new endeavours.

Source: Invest in Estonia

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Neither could anyone have predicted that the company to disrupt the taxi industry all over Europe would be built by a very persistent Estonian teenager.

“We might have decreased the number of old-school taxi call-centres − meaning dispatchers and taxi company owners − but we have given tens of thousands of drivers an opportunity to offer their services on our platform,” says Markus Villig, the CEO and founder of Bolt (Taxify), a ride-sharing platform that now operates in 20 countries in Europe, Africa and South America with 100 000 drivers and 4 million passengers signed up. Taxify recently announced funding (of an undisclosed amount) from Didi Chuxing, the world’s biggest ride-sharing platform that forced Uber out of China.

Markus and his colleagues can now use the knowhow and the tools provided by their Chinese investors while not leaving their main office in Tallinn, which is based in a recently renovated art nouveau-style limestone building that housed a furniture factory for the best part of the previous century. “We really needed extra space and that was almost the only office of that size available in Tallinn,” Markus explains in his usual modestly self-assured manner.

It’s lunch hour in their office and a buzzing group of young people gathers in the kitchen on the first floor, bringing their meals in from a canteen next door. Looking around in the room it’s obvious that I’m the oldest person in the room as the average age of Taxify employees is about 28-29. “But now we actually do have people younger than I am,” Markus adds. Just to make it clear: he is 23.

In a year they will move a few blocks down the road to a new building, that will be located right next door to another Estonian-born international superstar, TransferWise, which just recently announced a whopping €240M round on top of its previous investment rounds. “As compared to TW, we have been super-efficient in our growth, having made it so far with only €3M,” Markus comments. Taxify probably better deserves a comparison to Uber which has raised €10B. “Compared to them, TransferWise is still very efficient,” Markus remarks.

As to the current employee-count, Taxify’s General Manager Riina Einberg has to look up the most recent number: “We have been adding up to 20 people per week.” The count comes to 320, 160 for Estonia and the same for another 19 countries and 25 cities. There are 30 nationalities in the Estonian office alone.

An early start

One might think that Markus is too young to have pulled off a company of such a multinational scale but he’s actually no rooky in the startup world. In 2010, at the age of 16 he − accompanied by his father Tiit − attended the first ever Garage48 event in Tallinn, which was organized by his older brother Martin who was then working for Skype. Markus happened to be in the same team with Skype founders Jaan Tallinn and Ahti Heinla, and although nothing came of their baby-name-generating app Namefy (other than the ending of the word −fy), he had already lost his soul to entrepreneurship.

In 2012, his brother Martin was organizing another Garage48 event in Kyiv, Ukraine, and tried getting a taxi online, which turned out to be quite a hassle. He then came up with the idea of how to make ride-sharing much easier. Markus picked up the idea and plunged into it. According to his own account, he discovered he had a lot of time on his hands during his high school final exams so he decided to build a platform to ‘get this taxi business in order in Tallinn’. There were 30 taxi companies in Tallinn at the time, all operating on old school call-in devices, with an operator, misogynistically referred to as ‘a Kitty‘, mediating the rides from a central station.

The early start was quite promising. Markus did a Google Docs survey in his school to which he received 600 answers, 90% out of which responded that there is an acute need for a new taxi platform. Nobody had even heard of Uber yet.

Markus started going through the taxi stops and things started going a bit astray: “Of course I had no platform to show yet and being a 19-year-old kid disturbing the drivers from reading their newspaper…” 8 out of 10 taxi drivers would yell at him to get the hell out of their cars. Markus could hardly speak any Russian and that was an obstacle communicating with drivers.

He soon realized that his initial budget of 200 euros was simply not feasible to actually develop a platform. A developer he had found ‘somewhere from the city’ was asking for 7000 euros for a prototype.

He turned to his parents who finally gave in to his pleas and lent him the money they had set aside for his studies at university. “It’s up to you now, what you spend this money on,” they said with a heavy heart. His mother Reet helped a lot with the early sign-ups of the Russian speaking drivers and to this day she keeps in touch with the company, now taking care of the office plants.

Bumps on the road

Other than strong support from his family, it was all downhill for Markus. “We had no money for marketing so we sent press releases to all media outlets in Estonia saying that a 19-year-old is trying to shake the taxi industry in Estonia and luckily it worked, we got our first stream of customers. But the first prototype was full of bugs, drivers who had shared their contacts did not really sign up and people literally could not get taxis,” Markus confesses.

A lot of money had been wasted but there were no drivers and people who had downloaded the app could not use it. Business prospects seemed gloomy. Any less strong-willed person would have given up there and then. But not Markus.

“It was now or never. It was a pretty crazy month. I was working 24/7 to get it to function, learned a lot of mobile development to fix the prototype and spent the rest of the time out on the streets hiring more drivers. By the beginning of September, we had almost reached the critical mass of drivers.” That meant 20 rides a day. These days, a regular month means hundreds of thousands rides in Tallinn, which is only the 10th largest city for Taxify.

Markus had just started his studies at Tartu University and could not continue roaming the streets of Tallinn at night, harassing the leather-vest-clad moustachioed middle aged men who would much rather solve crosswords in their Wunderbaum-scented Ford Scorpios than discuss possibilities of earning extra money by offering better services to their customers with a taller-than-average teenager.

He also realized they needed a real developer. The only person who responded to their ad on php.net forum just happened to be the right person. After the first meeting, Oliver Leisalu called back a few days later and had already built versions of both the driver’s and customer’s app.

He’s now one of the cofounders of Taxify, which really took off shortly after he joined. A year into the business, big brother Martin who had so far held a supportive role also left his ‘day job’ at Fortumo and joined full time.

But the troubles were not over yet. In December 2014, Taxify raised a first round of €1.4M from investors and started developing and scaling very quickly. By March 2015, it was clear that if they keep up the same pace they would be out of money by the end of June. Revenues were still small and some countries were slow to pick up pace. “We had to cut the spending, let some people go and start raising a new round from investors who were less than willing to give us any more money. That was a very tough year,” Martin recalls.

Against all odds, they finally found a scalable model in the cities of South Africa and the company turned cash flow positive. Now, with the latest investment from Didi, they can feel “much more relaxed about spending”. Markus can finally consider actually visiting the countries they are operating in. And not just visit the offices, but get to know the places as well as the people. “What I’ve understood in my years in startup business is that good people are the same wherever you go in the world: they are open-minded, tolerant and… well, just normal.”

Going after the Big Fish

“My ambition from the very beginning has been building one of the biggest technology companies in Europe,” Markus is not shy to announce. And since the transport industry is ten times the size of the marketing sector of the whole world, this is where he sees his challenges.

“It’s only a matter of time until we break the regulations that have been limiting this industry in Europe for decades. There is simply no explanation as to why a company should pay 100 000 euros for an operating licence in a single city and then charge its customers 100 euros for a ride. It’s as if someone would charge you 200 000 euros if you wanted to become a programmer.”

The strict regulations have started to crumble state by state, with Estonia leading the way, yet they stay intact in many countries like Italy, Germany, Spain or our Scandinavian neighbours. The transport regulating office of London recently pulled operating licences for both Taxify and Uber in the biggest city of Europe.

“Uber makes €2 billion of revenue on its rides in the UK only, so probably making a few hundred million in commissions, therefore it’s no small business,” Markus explains their motivation in fighting for the change in regulations. At the time they started, he did not even regard Uber as a competitor as it only operated in a few European cities as a limo service. Things changed when Uber raised billions in investor capital.

Transport is usually considered to be a very local service. Markus brings a recent example when the Kenyan press proudly announced that a Kenyan company raised an extraordinary investment from a Chinese investor. That company was, of course, Taxify.

What to disrupt next?

Riina Einberg, who has experience from helping scale several new companies, claims that the challenges of this startup are different. “On one hand, it’s about sharing economy, using unutilised assets and allowing people to earn extra income in their free time, but at the same time it is about changing the future of urban transport. The ridesharing app and the platform for drivers is just a start. In just a few years it might end up with operating pools of self-driving cars or delivery services or both or who knows what − the whole industry is changing very fast right now.”

It’s obvious that the disruption has just begun as 70% of the cost of a taxi ride today comprises the driver’s salary. Markus is well aware of the social impact of the disappearance of jobs. In the long run, it’s inevitable: “Either building tall walls like some countries do or introducing basic income for all.”

Markus claims that many people simply have not realized yet that it is actually cheaper not to own a car. “I do not have a driver’s licence,” Markus laughs. “So I’m kind of stuck with what I do.”

In March 2019, Taxify changed its name to Bolt.

Article source: Invest in Estonia

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After graduating from university, Thomas Padovani spent three and a half years working at a start-up for online payments. During this time, the company’s turnover increased from two million euros to one hundred million euros and went to the stock exchange. But then, Padovani felt that the company wanted to push people into certain roles. The man sold his few shares and went to travel – including finding his way to Estonia.

Here was a company that dealt with processing payments. However, Padovani felt that he did not want to fulfil someone else’s dream.

Made in Estonia

“I sold the television and all the things I had and I came to Tallinn,” he described. Padovan had initially 10,000 euros. “I had no income or forecast for the coming year,” said a man who initially set himself up in Õismäe to live and to start his first company Adcash.

A year later, Padovan rented an apartment in Rotermann Quarter, where the employees worked the day and slept at night. He also went to work there from Õismäe. With the first money, an extra property was bought at Kaupmehe Street. «We thought the money was burning and it was better to put it somewhere. If the company fails, we can at least rent the property out, »said Padovani.

At first, the business idea was: you have brands that come and say that they will give you a euro for every new customer. Adcash went to various advertising channels (websites, blogs, etc.) and said: “We will give you 70 cents for every new customer whom you bring to our partners.”

In this way, 30 cents left Adcash for mediating the service, which is the business model of the advertising network. At first it was very easy to do, but when a lot of new customers came up, it was necessary to develop an automatic solution.

«Imagine that you have thousands of advertising campaigns at the same time that need to be constantly changed to meet your needs. So we came to the conclusion that an automated advertising system needs to be developed, »said Padovani.

All technology has been developed in Estonia. The automatic solution also led to a new name – in 2011, the company that was named Cashtrafic was named Adcash.

The people of the Adcash Tallinn office came from every end – there are 19 nationalities in the sales team. According to Padovan, partly because Estonia is a safe country with good opportunities. “You can live here better than in Barcelona, Paris, Lisbon or London,” he said.

They currently have more than 3000 campaigns running on more than 100,000 websites around the world. Each campaign can be targeted very precisely through various parameters, the combination of which gives endless possibilities.

«You are on our website, it’s Saturday night, it’s foggy outside and the user is looking for information about football. What ad are you showing? »Asked Padovani.

Money does not get Adcash from displaying an ad, but when a person buys something, registers somewhere or somehow responds to advertising.

There are many ways to conquer the advertising market. «Extreme, such as the adult or gambling sector, or milder or travel, e-commerce, health. We chose entertainment, or videos and games, »explained Padovan, noting that their so-called boats include Rovio, Good Games, Ubisoft, and most other major gamers. The network consists of over 120,000 websites and over 3000 active campaigns each day.

Some ads lead to malicious pages. According to Padovan, it’s up to the big companies to decide whats bad or not.  Thus, Yahoo! Toolbar is a malware for Google because they are competitors.

«This kind of conflict of interest often happens in the IT world, because when we talk about Yahoo and Google, they are profit-oriented listed companies. For them, the most important thing is that you come in the morning, turn on your computer and they are your home page so they can make more money by showing you the ads, »he said.

According to Padovani, Adcash has no interest in making campaigns that may harm their names and interests. “At the same time, we have to realize that we have more than 3,000 campaigns on a daily basis and over 100,000 websites. Because of the volume of campaigns, there are still ads that push programs that continue to open pop-ups, »he said.

Four years ago, Adcash opened an office in Bulgaria because they were not able to recruit enough software developers from Estonia. There are many developers in Estonia, but similarly competing software companies will continue. In addition, the firm has offices in France and Mexico. The Estonian tax system gave the company an advantage because the costs were lower. So more money was left to be more aggressive in the market.

According to Padovani, he comes from a highly regulated country – if in France documents are asked to return after a month, then here you can register a company in two hours.

A quarter of Naxicap’s

At the end of September, Adcash announced that it had sold 25 percent of the company for 20 million euros. The process itself took a year. The goal was to increase our competitiveness. ”We are a strong company, but a partner is stronger. Naxicap (a French investment company – ed) manages two billion euros. He can buy with us and many companies for us, »said Padovani.

Adcash’s clients are in most large companies – those with 5000 to 100,000 euros per month for advertising costs. They also want to create a self-service environment for those who do not have enough money to spend. Padovani believes that a targeted advertising campaign would provide an opportunity to grow even in smaller businesses.

They just started advertising on mobile apps because it is a fast growing market. While in 2012, seven percent of mobile traffic came, then a year later 13 percent.

And of course, Adcash can’t get past Asia because many important things happen right there. eMarket estimates that, for example, in China, a small amount of money per person per year is spent – € 29.3 – but it is a huge market in terms of population size.

Original article in Estonian in Postimees 

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