Lipscore, known for helping businesses collect product reviews, reports a 50.2% increase in license revenue this year, primarily fueled by surging interest in product reviews in Norway.
Henning Frettem, the founder and CEO of Lipscore, is pleased with the company’s performance so far this year, citing a “fantastic development” in the Norwegian market. Among the company’s clients are well-known businesses like ARK Bokhandel, Interflora, Telia, Coverbrands, Jernia, and Elektroimportøren. The firm now employs 15 people. Frettem observes a dramatic increase in interest for product reviews in Norway over the past year, noting that many businesses are now acquiring the capability to implement this technology. While Norway remains Lipscore’s primary market, the company is also operational in six countries and aims to strengthen its position in Sweden. Frettem revealed that Lipscore has doubled its customer base in Sweden this year, but believes there is much more potential for growth. According to him, interest in product reviews is surprisingly lower in Sweden compared to Norway, but he anticipates this will change. Lipscore hopes to capitalize on this by convincing potential clients that they are the right technology provider for product reviews.