Blip.pt
Tech and innovation hub with strong knowledge in software development part of Flutter.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
N/A | Acquisition | ||
| Total Funding | 000k | ||
| EUR | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 167 % | (75 %) | (85 %) | 133 % | - | 48 % | 40 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 25 % | (35 %) | (233 %) | 43 % | - | - | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | - | - | - | - | 4 % | 1 % | 2 % |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Blip.pt stands as a specialized technology hub located in Porto, Portugal, operating as a key engineering and development center for the global sports betting and gaming giant, Flutter Entertainment. Founded in 2009, the company has carved a niche for itself by developing high-performance, scalable, and resilient web applications that are crucial for the operations of Flutter's international brands, which include names like Betfair, Paddy Power, and FanDuel. Initially established as a startup, Blip's trajectory shifted significantly when it was acquired by Betfair, a move that integrated its engineering prowess into a larger, global framework. This acquisition was a testament to the quality of the technology and talent fostered within the Portuguese tech scene.
The core of Blip's business revolves around providing software development, data science, and infrastructure management services exclusively for Flutter's portfolio companies. Its operational model is not that of a typical B2C or B2B software company selling a product to the open market; instead, it functions as an internal, yet distinct, center of excellence. The firm's products are the platforms and systems that power online sports betting, enabling millions of transactions and ensuring low latency and high availability, which are critical in the fast-paced world of live sports wagering. The technology stack is designed to handle immense traffic loads, particularly during major sporting events, ensuring a seamless experience for the end-users of Flutter's various betting platforms.
The company's establishment and growth have been pivotal for the tech ecosystem in Porto, transforming it into a significant hub for technological talent. Blip is known for its strong engineering culture, attracting top-tier software developers and engineers who work on complex challenges in the online gaming industry. By focusing on creating a robust and engaging work environment, Blip has managed to scale its operations significantly over the years, becoming one of the largest tech employers in the region. Its journey from a local startup to an integral part of a FTSE 100 company illustrates a successful integration model, where the acquired company retains its cultural identity while contributing to the larger group's strategic objectives.
Keywords: software development, sports betting, engineering hub, gaming technology, high-availability systems, web applications, data science, tech talent, platform development, IT infrastructure