Financial year 2015: Language services provider lingoking registers strong rise in assignments and new customers
A new online marketplace and the growing need for language services generate a significant burst of growth in interpreting and translation assignments
Munich, 9 February 2016 – After the successful launch of the lingoking online language service marketplace in October 2015, the Munich-based company has been taking stock for the first time. 2015 was overwhelmingly positive for lingoking, particularly in the acquisition of new customers and the rise in the number of jobs from existing customers.
At the close of 2015, the language service provider, which was established in 2010, had more than 3,000 customers worldwide. Around 1,600 of these were gained in the last year. That amounts to a growth in new customers of 16.6% compared to 2014.
The number of assignments for interpreting and translation projects also rose by 32%. In 2015 lingoking recorded an all-time record with 3,330 assignments. 1,550 assignments were generated by new customers.
lingoking now accounts for approximately 92% of total turnover in the B2B sector. Its customers include both multinational small and medium-sized companies, and large corporations from sectors such as E-Commerce, advertising agencies, government institutions and industrial enterprises. Notable customers include Mrs. Sporty, myphotobook and Engel & Völkers.
lingoking has seen particularly high demand for the translation and localisation of websites, and the translation of promotional marketing materials and product descriptions. But that’s not all, the demand for on-site interpreters and telephone interpreters has risen sharply too.
Forecast for 2016 – all signs point to growth
Nils Mahler, Founder and Managing Director of lingoking sees great potential for growth in the coming year, especially with the introduction of the online marketplace:
“For lingoking, 2015 was about the technical development of the online marketplace. In the first 3 months after the launch, we gained over 2,000 new registrations through the marketplace alone. In 2016, we’re going to focus on developing our marketing and sales activities in a targeted way. We’ll also be working to optimise the online marketplace, to make the process of booking translators and interpreters even quicker and easier for our customers.”
According to projections, by the end of 2016 lingoking will have approximately 5,000 commercial and private customers.
The current refugee situation in Germany also had an impact on lingoking in the past year. Mahler says:
"With the arrival of around a million refugees and migrants in the past year, the volume of commissions from authorities needing translators and interpreters from and into Amharic, Farsi, Dari, Pashto and Tigrinya rose significantly. It’ll be interesting to see how the situation will develop in 2016."
lingoking is the universal online market place for language services and connects people with a professional interpreter or translator within minutes. Every year, lingoking translates over 9 million words, interprets over 6,000 hours on location and more than 9,500 minutes over the telephone, for more than 4,400 customers from all over the world. More than 5,100 registered interpreters and translators in over 840 cities are employed by lingoking. lingoking has its headquarters in Munich and a subsidiary company in the Czech Republic.
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