“Think of it as the 1800s meets Facebook,” quips StoneShare CEO Keith Carter about the latter project, which the company is helping to design as a new way to give Canadians access to content produced by the country’s first prime minister during his time in office.
At the heart of both endeavours is the software upon which StoneShare’s entire business is built, Microsoft’s SharePoint collaboration platform. The local company analyzes, designs and develops SharePoint applications that allow customers to efficiently share and manage their information.
Focusing on SharePoint was a bit of a risky bet when the company was founded in 2007, as the technology hadn’t quite taken off yet. “Looking at the traditional business books, they always say not to premise your company on a single technology as they do change,” says Mr. Carter, who along with a business partner acquired StoneShare from its co-founders in 2009.
By 2010, however, the worldwide market for SharePoint-related services had exploded to $5.6 billion, and it’s estimated to jump to $6.7 billion by 2012. More than 130 million people use SharePoint today, Mr. Carter adds.
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StoneShare’s recent activity and mid-term goals mirror that surge in popularity; Mr. Carter opened the company’s first branch in Toronto within a year of joining, and a second office is planned for this fall. The goal is to have a presence in five major markets across the country – Ottawa, Montreal, Toronto, Calgary/Edmonton and Vancouver – by 2013.
“We also have very, very aggressive financial goals; we plan to grow by an average of 100 per cent per year between 2010 and 2014, and we’re on our way to 120 to 140 per cent for this fiscal year,” says Mr. Carter, who notes the firm is profitable. “I’d say we’re a little ahead of schedule.”
Year founded: 2007
Local head count: 18
Product/service: Enterprise content management systems integration and consulting
Revenue growth: 91.9%