It takes three numbers to measure uRefer's
year-over-year revenue growth, with double digit staffing increases
expected next year.
The Ann Arbor-based start-up is on pace for
100 percent growth in 2010 and expects to double that in 2011. It has
added four people this year; staffing levels now stand at 10 employees,
four independent contractors, and two interns. It expects to add 10 more
positions in 2011. Founder Richard Beedon expects to fuel the company
both internally and with new seed capital.
"We will probably
close a venture round in 2011," says Beedon.
uRefer specializes in referrals. It originally helped companies to
either set up referral programs or maximize existing ones. Today it has
evolved its business model to what Beedon calls "advocate relationship
management." The idea is to turn the customers, partners, and overall
circles for uRefer's clients into their biggest advocates.
approach is to convert these people into sales and marketing
representatives for them," Beedon says.
Beedon, founder of uRefer
Writer: Jon Zemke