Netease Tech, 11/22/11
George Gao, vice president of global sales and marketing for electronic document solutions provider Foxit Software, said recently that revenue has grown 35% every year since 2008, and profits for 2011 are expected to reach RMB 15 mln. The company now has more than 4 mln active users in China and 2 mln overseas, with total downloads exceeding 100 mln. Foxit Software, which received its first round of RMB eight-digit funding in 2010, earns 93% of all revenue from overseas operations.
Foxit's business model involves building its user base through its free Foxit Reader product collecting fees from subsequent purchases of its Foxit PhantomPDF PDF file editor and technology licensing fees, sales for each of which comprise between 30-40% of total revenue. Gao says that Foxit's two largest clients are Google and Amazon.
The focus of Foxit's mobile operations lies with tablet computers. "HTC's Flyer tablet came with Foxit software pre-installed," according to Gao.
Gao added that Foxit recently released an Android mobile application which allows users to both view and annotate PDF files, and the company's next step will be to release Foxit PDF Creator, an application for the Android platform which enables users to both create and edit PDF files.
Editor's Note: In an e-mail exchange with Marbridge, Foxit's Marketing Department Manager, Shawn Cheng, said that VP George Gao did not provide an expected 2011 profit figure or mention any relationship with Google in his earlier statement, but declined to provide any further details.