Silicon Roundabout Tech pioneer Moo nears £100 million sales landmark

A founder member of the “Silicon Roundabout” tech scene is closing in a landmark £100 million in sales, its chief executive said today.

The latest results from business card firm Moo.com — set up by Richard Moross more than a decade ago — revealed a 20% rise in revenues to £90 million last year with underlying profits jumping 54% to £4.7 million.

Moo.com was one of the original cluster of businesses based around Old Street when tech entrepreneur and Dopplr founder Matt Biddulph coined the phrase a decade ago. But Moo is now based in Farringdon and Moross is focused on growth in the US, which accounted for 70% of its growth last year.

Around 500,000 businesses are started every month in the US. Moross said: “We have recognised that the US is a large market for which our products have a very obvious appeal.” Turnover should break £100 million this year, he added.

Moross has extended the ownership of the business to give all 600 full-time staff share options. Speculation over a float has mounted following the recruitment of senior executives with listed company experience such as former Carpetright chief executive Darren Shapland, who joined as chairman last year. Moross refused to rule out a potential US float, adding: “The nice thing about having an international business is that we have so many options.”