{"id":1209,"date":"2025-04-23T15:24:03","date_gmt":"2025-04-23T15:24:03","guid":{"rendered":"https:\/\/www.techsparx.co.uk\/south\/?p=1209"},"modified":"2025-04-23T15:24:05","modified_gmt":"2025-04-23T15:24:05","slug":"londons-what3words-significantly-reduced-financial-losses-by-cutting-job-numbers","status":"publish","type":"post","link":"http:\/\/www.techsparx.co.uk\/south\/jobs\/londons-what3words-significantly-reduced-financial-losses-by-cutting-job-numbers\/","title":{"rendered":"London’s what3words significantly reduced financial losses by cutting job numbers"},"content":{"rendered":"\n

what3words, the location technology platform backed by ITV, Mercedes-Benz, Channel 4 and Nico Rosberg, has reported a substantial decrease in pre-tax losses for 2024, alongside a doubling of its sales revenue. However, the reduced losses came about as a result of the company, which divides the globe into unique 3×3-metre squares each identified by a distinct three-word address, reducing its employees from 152 in 2023 to 92 employees currently.<\/p>\n\n\n\n

According to filings with Companies House, what3words saw its revenue climb from \u00a31 million to \u00a32.1 million during this period. Used by businesses and governmental bodies to enhance operational efficiency, as well as by individuals for precise location sharing and discovery, what3words boasts a client base of over 650 businesses, government organisations, and non-governmental organisations (NGOs) spanning more than 170 countries. <\/p>\n\n\n\n

Recent partnerships include a collaboration with Saudi Arabia’s Net Zero, a sustainability-focused afforestation business, aiming to ‘redefine tree planting’ through precise location identification. The firm’s positive trajectory was further underscored by its recent acquisition of Swiftcomplete, a company specialising in speed-focused address validation software.<\/p>\n\n\n\n

what3words reported a pre-tax loss of \u00a310.6 million in the financial year 2024, a significant reduction from the \u00a316.4 million loss recorded in the previous year. This improvement follows a considerable reduction in the company’s workforce.<\/p>\n\n\n\n

Image source: what3words (Chris Sheldrick, Co-founder & CEO)<\/p>\n","protected":false},"excerpt":{"rendered":"

what3words, the location technology platform backed by ITV, Mercedes-Benz, Channel 4 and Nico Rosberg, has reported a substantial decrease in pre-tax losses for 2024, alongside a doubling of its sales revenue. 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