Christian Rasmussen appointed joint CEO at Better Collective
*Here's the Skinny on Better Collective's New Leadership*
Stepping into the spotlight, Christian Kirk Rasmussen - co-founder and former COO of Better Collective - has been pinned as co-CEO, joining forces with current CEO, Jesper Søgaard. This leadership shake-up is all part of a strategic reorganization, geared to support Better Collective as it heads into its next growth phase.
Over the past 12 months, Better Collective has been taking a long, hard look in the mirror, seeking to optimize and strategically align its business and organization for even bigger and better things to come. With a rich history spanning over 20 years, the company has relied on its band of brothers to drive its success, leveraging their unique skills, competencies, and personalities.
Now that Christian is stepping into a larger role, he'll be able to dedicate more focus to innovation, product development, and future growth opportunities, while Jesper's role remains exactly the same.
2024 saw Better Collective's revenue grow by 14% to a whopping €371 million, with recurring revenue up 21% to an impressive €231 million. Brazil was a significant player in this growth, contributing €70 million. However, upcoming regulatory shifts, such as a 26% GGR tax and account reactivation rules, are predicted to trigger a revenue dip of €35-€50 million in 2025.
In order to weather this storm, Better Collective kicked its cost-cutting strategy into high gear at the end of 2024. The scale of this operation was no joke, involving trimming salaries, scaling back content, shutting down offices, and reducing procurement costs - all resulting in a tidy €15 million in quarterly savings and an ambitious €50 million in annual savings for 2025.
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Enrichment Data:
- Christian Kirk Rasmussen has been appointed co-CEO alongside Jesper Søgaard, with a focus on innovation, product development, and long-term strategy.
- Better Collective is shifting from a geography-based structure to three core verticals: Publishing, Paid Media, and Esports. Each division will be managed by new business unit leaders and will see increased investment in flagship brands like Action Network.
- Regulatory changes in Brazil are expected to take a €50 million bite out of Better Collective's 2025 revenue. The company is counteracting this by restructuring efforts that include €50 million in cost savings achieved through layoffs.
- Better Collective is focusing on reducing M&A activity, prioritizing profitability over rapid expansion, and leveraging Christian's leadership to maintain a strong market position through product innovation and operational efficiency.
- Christian Kirk Rasmussen, now co-CEO alongside Jesper Søgaard, will focus on innovation, product development, and long-term strategy within Better Collective.
- In response to regulatory changes in Brazil that may reduce revenue by €35-€50 million in 2025, Better Collective is restructuring, aiming to achieve €50 million in cost savings.
- As part of its strategic reorganization, Better Collective is shifting from a geography-based structure to three core verticals: Publishing, Paid Media, and Esports.
- Jesper Søgaard's role remains the same, while Christian Kirk Rasmussen's new position will allow him to dedicate more focus to future growth opportunities within the finance, industry, and business sectors.
