Juan Urthiague: Look, there are a number of things that explain this significant higher growth than our peers. And I would say that we are always in the market. So they have to be company-specific drivers, right? It has to be on how we are structured. It has to be in terms of studios, it has to be with how growth is part of our culture and everything that we do is always thinking about what to do next, which market to attack next. Also, we started building strong marketing campaigns in the last two years by especially, for example, we were a sponsor of the Men’s World Cup back in Qatar of last year. Now we are in Australia because we’re sponsors also of the Women’s World Cup as well. So we are being very aggressive in putting the brand out there and making it known globally.
As Martin mentioned during the remarks, we opened new eight markets in the last 12 months, which is something that most companies these days are not doing, they are more like looking into inside on how to keep the lights on, and keep things flowing. On the opposite, we are heavily pushing to expand. And I think that all those things are very relevant to understand why we have been performing better than the market. Finally, on the M&A front, we have been active looking into new technologies that we want to bring into the equation, looking into new markets, both for revenues and also for talent, we have now presence for example, in Vietnam, in the Philippines, which we didn’t have in the past. We have a stronger presence in France for revenue, in Germany, in Australia, in Denmark.
So I think that’s kind of — the drivers of why we are somehow performing very, very different from all the rest of the industry.
Diego Tartara: As you may see, our shoes are not the main difference, right?
Juan Urthiague: Diego and myself, we bought the two of them for the price of one.
Arvind Ramnani: I would not expect anything different from the CFO, right? Always looking at price.
Diego Tartara: Two for one. Was in the same shop.
Arvind Ramnani: Just when I look at your growth outside your top 10, it’s very healthy at 22% growth, which is very impressive. So when I look, that at I would say, top 20 is a growth bigger and some of the larger accounts, let’s say, top 10 to 20, or is it more like broad-based across everyone?
Juan Urthiague: Typically at Globant, I would say, top 50 accounts are the ones that drives the company, right? And those 50, probably 40 of those are 100 squared accounts, right? Like I think at the end of the day what makes us grow is this focus on these very large global companies, that are leaders in their own industries that are spending or investing millions or billions sometimes of dollars in technology. And we have been able in some cases to become a strategic partner and we are working very hard for the other cases to also get there, because that’s when companies go from $1 million, $2 million, $3 million to $15 million, $20 million, $50 million, $80 million, $100 million. So that’s the — and we’ve been talking about 50 squared for a long-time, then it became 100-squared.
And — but it talks about, okay, what are we trying to achieve, which are the customers that can get us there? And I think that very clear mindset and focus has been a very relevant to grow across the board. And yes, and as I said at the beginning, I would look more into like top 50, because sometimes, top one, sometimes top 10, sometimes, the 11 to 20 and sometimes it’s 20 to 50, but overall like I would say that 95% of the growth is always driven by the top 50 accounts.
