Everything regarding the internet search market has been under Google’s purview for the longest time. However, one specific segment of the market has for the most part been ignored by the search engine giant; the helping of consumers to find company websites, and within those websites, their online product catalog.
What Google does well is helping people find websites, but that’s mostly it. Algolia takes it further by using it’s open source software engine to locate the client’s website and the relevant associated results.
Algolia itself was founded in 2014 and has since raised $74 million. As of October 4 2018, CEO Nicholas Dessaigne and CTO Julien Lemoine have stated that their customer base has grown by 38% from the beginning of the year. They also reported that their annual revenue is expected to at least double to $40 – $50 million by the end of 2018! All of that and Algolia is still considered to have ‘untapped potential’ with their large segmented target market and it would come as no surprise for them to pass the $1 billion threshold soon in the upcoming years.
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