Grid Dynamics Reports 68% Revenue Growth Year-over-Year

MENLO PARK, Calif., Feb. 24, 2014 /PRNewswire/ -- Grid Dynamics International, a leading provider of tailored scalable, next generation eCommerce technology solutions, today announced a banner year for revenue growth in 2013. Two of STORES Magazine's top 10 "Power Players Department Stores" are now using solutions developed by Grid Dynamics to dramatically enhance their eCommerce environments. By helping retailers achieve massive scalability, strengthen product search and navigation and implement next generation personalization and continuous delivery, Grid Dynamics grew revenue by 68% in 2013.

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Grid Dynamics attributes this significant growth to the accelerating expansion of the omnichannel segment of the retail market. While "only 14 percent of retailers reported having an omnichannel strategy in place; the majority (64 percent) said their strategy is still in progress," according a survey the Hay Group produced in October.

"With the growing dominance of the omnichannel strategy, those retailers who can implement it are achieving a huge advantage over their competition," says David Gimpelevich, President and General Manager at Grid Dynamics. "We strongly believe that because consumers will continue to demand to interact with their favorite brands their own particular way, we will continue to see dramatic growth in customer base and revenue."

"The retail industry continues to change at an accelerated pace, with consumers driving omnichannel needs and evolving their habits faster than many retailers can adjust. The added complexity of the omnichannel is driving the industry into integrated and custom-tailored unified solutions that Grid Dynamics is positioned to provide as a strategic partner," said Samih Fadli, Chief Technology Officer at Grid Dynamics. "Our omnichannel clients experienced zero downtime during the 2013 holiday season according to the Panopta Availability Index."

A significant contribution to the growth of Grid Dynamics was made by increasing adoption of continuous delivery tools and methodologies, driven by rising pressure to keep pace with the accelerating pace of change in consumer demand patterns and competition. Grid Dynamics has led the way in enabling its clients to automate their testing, deployment and release engineering, which enabled them to reduce environment set-up time from weeks to minutes, increase reliability of releases and achieve shorter delivery cycles. Grid Dynamics expects this trend to continue to accelerate into 2014 and beyond.

About Grid Dynamics

Grid Dynamics delivers scalable e-commerce platform solutions to the world's most successful companies. The company helps its customers attain business edge through technology by delivering robust, open and scalable solutions that are essential to every successful eCommerce platform. For more information, visit www.griddynamics.com.

CONTACT: Crystal Black, Grid Dynamics, +1 650-422-2810, [email protected]

SOURCE Grid Dynamics