Wave Studio – again in the FT 1000: Europe’s fastest growing companies in 2023

Wave Studio is acknowledged, once again, as one of the fastest growing companies in Europe for its financial results between 2018 and 2021, being included in the 2023 FT 1000 ranking, presented annually by Financial Times and Statista.

Wave Studio, a technology company specializing in the development and publishing of mobile applications in the Tools and Personalization category, has, once again, been acknowledged by the Financial Times and Statista as one of the fastest growing companies in Europe. It’s the second year in a row in which the Romanian studio is included in this top of companies in accelerated development in the region. With a growth rate of 1400.1% and a CAGR of 146.6%, Wave Studio holds the 107th place in the general ranking, the 19th place among IT companies and is, again, the 1st among Romanian companies included in this top. Only 4 domestic companies were listed in the FT 1000 in 2023.

Every year, the Financial Times – the most prestigious financial publication in the world – together with Statista – a leading market research provider – compile the FT1000: an index of the top 1000 organic growing companies in Europe. The most important criterion in the indexing methodology in the FT 1000 is represented by the compound annual growth rate of revenues (CAGR). For the current ranking and the 7th edition, the minimum CAGR value required for eligibility was 36.2%, slightly below the 2022 benchmark of 36.5%. Through a complex analysis, the FT 1000 manages to provide an in-depth overview of the progress of companies in different fields of activity. More information regarding the selection process can be found on the page dedicated to the current ranking.

Wave Studio, a Romanian technology company founded in 2014, has over time recorded several successes with applications published in the Tools and Personalization category. The studio develops its own applications for Android and iOS systems, which it publishes and promotes to audiences worldwide, with more than 220 million downloads, with the most users located in India, Brazil, the US, Mexico and Indonesia. In 2022, just like the previous year, Wave Studio was in the top 3 developers in terms of downloads on the entire Google Play store in the Personalization category.

The most popular apps in the Wave Studio portfolio are Wave Live Wallpapers and Wave Keyboard, with over 30 million downloads each. Recently, the company launched Wavesome AI, a visual art application generated by artificial intelligence software, with which it aims to conquer audiences around the world once again: “We hold on to our startup mentality and exponential growth plans. After offering the most advanced and interactive 3D smartphone wallpaper products, we wanted to further diversify our portfolio. Images generated with the help of artificial intelligence have become extremely desired and attractive for us as a business extension. So, our new app, Wavesome AI – available for iOS and Android – has become the product we’re most focused on developing right now. There is already a lot of competition in this niche, but we are betting on our original ideas which, we already know, have the potential to take our apps to the top of the most downloaded apps in the world.” – says Vlad Andries, Managing Partner at Wave Studio 

The current FT 1000 ranking is a reflection of the business environment immediately after the impact of the Covid-19 pandemic, when many areas of business suffered due to the lockdown situation and price increases. At the same time, others have thrived precisely because of the change in consumer behavior as more people stayed in their homes longer. The 2023 top is still dominated by names in the IT & Software sector, and 356 companies have retained the overall ranking for 2 years in a row, while 125 companies are present for the third time in a row.

About Wave Studio

Wave Studio is an Android & iOS mobile apps developer & publisher, with the most popular products in the Tools and Personalization categories. In 2022 the company ranked 22nd in the Deloitte Technology Fast 50 Central Europe and was one of the Fastest Growing Companies in Europe, ranked 286 in FT1000 by Financial Times and Statista.

For more information & the Romanian version please reach out to Anda Tepei – Brand Communication Lead at anda @ wave.studio.

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