Half-year revenue at Social Chain, which was co-founded by new Dragons' Den star Steven Bartlett, surged by more than $90m during the first half of 2021, according to new figures.
The company, which was established in Manchester and now headquartered in Berlin, has reported a group revenue of $190.1m for the six months to the end of June, up from the $97.6m it achieved during the same period in 2020.
The firm added that its revenue in its core business of Social Commerce increased from $65.3m to $168m.
The figures come after the business announced in May that it had increased its full-year forecast to $416m after revenue surged by more than 40% during the first three months of 2021.
In a statement, Social Chain added that "despite growing fast", increased acquisition costs, a strategic portfolio adjustment and the switch to the IFRS accounting standard, the company "achieved a breakeven EBITDA of $-600,000 as planned".
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Chief executive Wanja S. Oberhof said: "The first half of 2021 confirms Social Chain AG’s positioning as an ambitious growth company in the future market of Social Commerce.
"Our business focus is clearly on a rapid broadening of our product range to ensure continued growth. We are able to achieve this through our own innovative products and brands, the acquisition of companies with Social Commerce-affine product portfolios and the continuous enhancement of our operational excellence in the combined interaction of e-commerce and social media.
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"We have now grown to a size that makes us attractive as a Social Commerce Platform for a variety of partners: from innovative start-ups to producers and retailers who have so far been focused on traditional sales channels and who see new, additional revenue opportunities in Social Commerce – on an international scale."
Social Chain's headquarters are in Berlin and it has additional locations in Munich, London, Manchester, New York and Los Angeles while the company employs around 850 people.
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Its shares are traded on XETRA and several German stock exchanges.
The half-year results also come after Social Chain's shareholders in August approved moves to upgrade to the Prime Standard of the Frankfurt Stock Exchange and pursue a listing on Nasdaq in the future.