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Continued: Schafer: A rocket to the moon? No, more of an elevator

  • Article by: LEE SCHAFER , Star Tribune
  • Last update: June 5, 2013 - 8:54 PM

In January of this year, within the hundred days, it eliminated 24 positions, or about 5 percent of its staff. As the CEO explained in a blog, “our recently slumping profitability had much to do with today’s changes,” and of course there wasn’t much point to further discussing the 100 Days campaign.

When I ran Harvath’s growth principle by the Nerdery, Chief Financial Officer Bill Stephenson responded this way:

“Growing a profitable technology company is a challenge at any scale, but the challenge increases as you increase the rate of growth. At the Nerdery, we’ve been able to take advantage of several trends and opportunities in the interactive market and maintain profitability despite 50-plus percent year-over-year growth.”

Harvath, puzzling over this e-mail, allowed that the Nerdery making money at a 50 percent revenue growth rate was “a little surprising.”

Has he seen it before?

“Not in the hundred companies I have looked at.”

 

lee.schafer@startribune.com • 612-673-4302

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