Apr 26, 201203:27 PMDaily Biz Briefs
SBA names Shahani state’s 2012 Young Entrepreneur of the Year
As a $4,000 start-up in 2007, Appature was profitable in its first year and became a multi-million dollar health care technology company in a matter of two years. That’s just one reason why the U.S. Small Business Administration has named the company’s CEO, Kabir Shahani, as its 2012 Washington Young Entrepreneur of the Year.
Appature is a Seattle-based technology company that provides a cloud-based marketing platform that aggregates sales and marketing data, and enables marketers with tools to easily mine data, launch campaigns, and get insight. Shahani is recognized for his ability to energize those around him and propel his technology company to a multi-million dollar business.
“Business owners are impressive at any age, but really stand out when they compete successfully in a $5 billion market the way that Appature has,” said SBA District Director Nancy Porzio. “That someone in his twenties is such a business savvy visionary is amazing.”
“Appature has a rare track record,” said Assistant Associate Administrator Calvin Goings. “It generated profit in its first year with no outside capital, attracted venture capital by its third year, and in five years has never had a staff layoff.” Appature now employs more than 40 people, with plans to be at 75 staff by year-end 2012.