Norwegian company for the production of “paper tablets”, Excellent has now joined the Unicorn Club after a record year. The startup reached an estimate of more than $ 1 billion and generated $ 300 million in revenue in 2021, more than double the amount in 2020.
Founded in 2013 by the CEO Magnus Vanbergthe startup aims to reproduce the feeling of writing on paper using a digital tablet.
Now the platform has reached a new milestone: since its launch in 2017, more than 1 million paper tablets have been sold. Founder and CEO Magnus Vanberg said: “We have now sold over 1 million units of reMarkable 1 and 2. This is a milestone that demonstrates how our products cover real needs and how we can help people get rid of distractions and improve their daily workflow.” .
According to the company, its profit before interest, taxes, depreciation and amortization (Ebitda) was $ 31 million compared to $ 12 million in 2020.