More international validation of kiwi startups

Great to see Netflix senior management join the board of Dropit

Netflix’s former marketing director Joel Mier has given a ringing endorsement to Tauranga software company DropIt, joining the board of the Kiwi company which he agrees could be worth $1 billion in three years’ time.

DropIt provides an app that helped companies run 83,000 so-called “drop auctions” or reverse auctions to sell their products online in the year to March.

Its revenues are still in the single-digit millions, but chief executive Peter Howell said the firm with 24 staff experienced “8000 per cent” revenue growth last year and expected to run 600,000 auctions this year as it grew in the United States.

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