Member Article

Newcastle-based Venture Stream Reports Record Growth

Leading Newcastle-based e-commerce and digital marketing agency, Venture Stream, has got off to a flying start in 2016, announcing record-breaking revenue gains, six new hires, significant office expansion and has officially completed the acquisition of fellow North East digital agency, CommVia.

After receiving start-up support from Northstar Ventures and Rivers Capital just two years ago, the company has reported over 60 per cent growth in the last 12 months and says it is on course to hit £1m annual turnover by the end of the financial year.

Continuing to deliver on its ambitious targets, the company boasts a 95 per cent client retention rate, having won several big-name clients including The Pen Shop, Barbour, Smithers Oasis and Yogamatters. As of 1st March, Venture Stream has also trebled the size of its office space, now totalling over 2,400 sqft at its office located on Pink Lane in the centre of Newcastle.

With six new employees and Venture Stream continuing its recruitment drive, the extended office area will be dual purpose, designed to accommodate the growing team and with excess space to be opened up as a ‘Venture Hub’, which will see individual rooms and shared office quarters made available to local freelancers and creative small businesses in need of professional space.

Managing Director at Venture Stream, Vic Morgan, says: “This is an exciting time for Venture Stream as we continue to grow as a business and build our team of experts. We see reaching all of these milestones as a natural progression resulting from our investment in people, exemplified by the acquisition of our technology partner CommVia and the launch of our Venture Hub to work collaboratively with freelancers and like-minded businesses.”

Completed March 1st, Venture Stream’s acquisition of CommVia will cement its reputation as a leading Magento integration specialist, incorporating valuable IP and technical expertise into the company. Going forward, CommVia will operate as a wholly-owned subsidiary of Venture Stream.

Vic adds: “With proven results, we have been at the forefront of both e-commerce development projects and digital marketing delivery. We now plan on blazing a trail as a valued, strategic partner for our clients, one fully-integrated in directly optimising results for their businesses.”

With a local entrepreneur already signed up as Venture Hub’s first tenant, those interested in a securing shared office space can email hi@venturestream.co.uk to register interest.

This was posted in Bdaily's Members' News section by Jade Brodie .