Business background
01
The Beginning
Bianor Holding has its origins in the Arexus IT company, established in 1998. The founders are two young enthusiasts, Kosta Jordanov and Nikolay Rashev. They had two computers back then, exceptional mathematical knowledge and a lot of passion for writing code. At the same time, the global giant IBM was looking for partner companies on the Bulgarian market and Arexus became one of the company’s subcontractors in Bulgaria.
02
Name change
In 2000, Arexus changed its name to Framfab Bulgaria, after the then largest European Internet consulting firm Framfab, Sweden, acquired a 51% shareholding. In 2001, as a result of the dotcom crash, the Swedish company withdrew from a number of markets, including the Bulgarian one. The management represented by Kosta and Nikolay, bought back their shares and renamed the company to Bianor.
03
Going public
In 2006, Bianor was transformed into a joint-stock company – Bianor Holding, and after the successful IPO, it became the first software company on the Bulgarian Stock Exchange. The holding invests the collected funds in Bianor Services subsidiary company, which, in addition to IT services for clients, allocates resources to create its own product.
04
Spin – off
The result of the team’s intensive R&D work is the creation of a software solution for streaming video content. The product went through several stages of development, until it was subsequently spun off into a new company that occupies a place among the world’s leading platforms for the distribution of sports and entertainment content – FITE. The company has tens of millions of users worldwide and holds the record for the most visited online event. The company’s potential does not go unnoticed and FITE attracts top investors from Silicon Valley and Europe. In 2022, the company was acquired by one of the fastest growing US video content distribution platforms, Triller Inc.
The deal with FITE brought significant income to the Bianor group, which opened the doors to the realization of the holding’s next business plans.
