Softbinator Technologies (BVB: CODE), a Romanian software development company specializing in the design, development and launch of innovative products, announced on May 19 the rental of a permanent space in Silicon Valley, which will serve as an office American to society.
The company also said it will focus on setting up an LLC in the United States in the coming period.
“The technological standard comes from the United States, more precisely from Silicon Valley. The US market is the main customer generator for Softbinator. Opening an office there is a natural step for us that will bring us several advantages and opportunities. On the one hand, we will be closer to our existing customers and will be able to strengthen our relationships with them. On the other hand, we will be able to attract new customers more efficiently and easily,” said Daniel Ilinca, Founder and CEO of Softbinator Technologies.
“For Softbinator, being in this market also means strengthening the existing working model. We will have the opportunity to continue to create intellectual property and patentable products through advanced technology at an accelerated pace. The competition in the US market is fierce, but it’s a huge advantage because it motivates us to evolve at all levels,” he added.
In October 2021, Daniel Ilinca and Andrei Pitiș, chairman of the company’s board of directors, were present in San Francisco, Palo Alto and Mountain View, where they set up several partnerships for the company. That’s when Softbinator Technologies decided to open an office in Silicon Valley in 2022. Several more trips have taken place during this time, culminating this week with Softbinator Technologies’ first US office lease.
The Romanian company aims to have more than 70% of new customers in the US market by the end of this year.
“In the first three months of 2022, Softbinator has already won four new US customers, including one from Silicon Valley, a safety and security services company whose products are used by millions of users worldwide. Another customer is from the transport field, the third from the blockchain (NFT) industry and the fourth is active in artificial intelligence, video content creation and storage,” the company said.
Since this year, Softbinator Technologies has a business development department dedicated to the blockchain field, through which it aims to generate revenue from blockchain solutions that represent at least 10% of turnover. Additionally, the company has started to explore the legal and financial framework to accept payment in cryptocurrencies (stable coins).
The shares of Softbinator Technologies have been listed on the AeRO market of the Bucharest Stock Exchange since December 17, 2021 and traded under the symbol CODE. Currently, the company has a market capitalization of over RON 70 million.
irina.marica@romania-insider.com
(Photo source: the company)
