Israel-based One Hour Translation, which provides online professional translation of documents, expects its revenue to double annually as businesses increasingly turn to its service.
The company already serves half of the Fortune 500 companies, partners with Google in offering a translation service for apps, and each month translates 100,000 projects for 15,000 business customers.
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“Our sales growth rate is close to 100 percent. Next year for sure we will continue at this pace,” the company’s general manager, Lior Libman, told Reuters. He declined to elaborate but said the five-year-old company was profitable. “Most of our customers are businesses going to new markets or trying to submit bids or proposal,” he added, noting the global e-commerce market is worth up to $700 billion annually.
Thousands of working hands
To handle the task, One Hour Translation retains 17,000 professional translators who work in 75 languages. It charges 7 cents a word for general translation and 14 cents for text requiring expertise such as medical and legal.
The process – from submitting a document to locating a translator and delivering the text to the customer – is done online through its servers and algorithms.