Privacy tech continues cooking on gas. To wit: Non-tracking search engine DuckDuckGo has just revealed that it beefed up its balance sheet at the back end of last year with $100 million+ in “mainly secondary investment” — from a mix of existing and new investors. Its blog post nam…
Privacy tech continues cooking on gas. To wit: Non-tracking search engine DuckDuckGo has just revealed that it beefed up its balance sheet at the back end of last year with $100 million+ in “mainly secondary investment” — from a mix of existing and new investors.
Its blog post name-checks Omers Ventures, Thrive, GP Bullhound, Impact America Fund and WhatsApp founder Brian Acton; inventor of the world wide web Tim Berners-Lee; VC and diversity activist Freada Kapor Klein; and entrepreneur Mitch Kapor as being among the participating investors. So quite the line up.
DuckDuckGo said the secondary investment allowed some of its early employees and investors to cash out a chunk of their equity while bolstering its financial position.
Although it also says its business — which has been profitable since 2014 — is “thriving”, reporting that revenues are now running at more than $100 million a year. Hence it not needing to keep dipping into an external investor pot.
Its last VC raise was in 2018 when it took in $10 million after being actively pursued by Omers Ventures — who convinced it to take the money to help support growth objectives (especially internationally).
DDG has a few other metrics to throw around now: Over the last 12 months it said its apps were downloaded over 50 million times — more than in all prior years combined.
It’s also revealed that its monthly search traffic increased 55% and says market share trackers indicate that it grabbed the No. 2 spot for search engine on mobile in a number of countries, including the U.S., Canada, Australia and the Netherlands (StatCounter/Wikipedia).
“We don’t track our users so we can’t say for sure how many we have, but based on market share estimates, download numbers, and national surveys, we believe there are between 70-100 million DuckDuckGo users,” it added.
A looming shift to Google’s Android choice screen in Europe, where regulators have forced the company to present users of mobile devices that run its OS with rival options when they’re setting a default search engine, looks likely to further boost DuckDuckGo’s regional fortunes.On a growth tear, DuckDuckGo reveals it picked up $100M in secondary investment last year View Story