Speech by newly appointed CEO Charles Garvey
Posted 25th Apr, 2007
Thank you Tom. Welcome ladies and gentlemen. In mid 2005, NitroSell was a dream created by Jerry and Tom. Today less than 2 years later, NitroSell web enabled over 500 retail business, and these numbers are growing every month. As well as a host of general retailers, NitroSell customers include Sony, the US Navy, the US National Parks Service. In March 2007, almost 900,000 people had accounts with NitroSell retailers. There were over 700,000 unique visitors to NitroSell web-stores, and these stores offered over 300,000 products for sale. Based on this opportunity, NitroSell has been able to raise $4m from investors.We are lucky to be part of a vibrant and growing economy, which is now spawning large numbers of new companies seeking to launch their product or service on the world stage.
All of this has only been possible, because of a complete change over the past 15 years, in the climate of support for entrepreneurship. This sort of change does not happen by chance. It is a coming together of lots of things, which create a context in which enterprise and risk taking is nurtured and supported.
I would like to praise the work of Enterprise Ireland. From the beginning they have been supportive of NitroSell, as they are to a host of other indigenous businesses. They have provided valuable seed capital, helpful advice and practical support through their network of offices overseas. They play a vital role in helping Irish companies onto the world stage.
Minister Martin, has also been very supportive of young Irish companies. We are just one of many that benefited from his generosity with his time and his encouragement.
Taxation policy also plays a very important part, and the creation of the BES scheme, and its recent extension and expansion, creates an attractive environment to people who have capital, to invest it in Irish enterprise.
The combination of these things has allowed companies like NitroSell to move from ‘good ideas’ to practical reality. Along the way, these companies create employment, export products and services, pay taxes, and contribute to the virtuous spiral, by providing examples of success that will encourage more investment in other companies in the future.
NitroSell is proud to be part of the Irish success story, and to be able to announce today, our plans to create even more employment over the next 4 years.
On that note, I would like to invite Minister Micheal Martin, to say a few words, and officially open our new headquarters.