# IDT Media

> legal entity in Latvia

**Wikidata**: [Q124619856](https://www.wikidata.org/wiki/Q124619856)  
**Source**: https://4ort.xyz/entity/idt-media

## Summary
IDT Media (also known as Magebit) is a Latvian software development company founded in 2013. It specializes in web development, e-commerce, and professional services, with a focus on digital transformation and technology solutions. The company has grown significantly, with revenue reaching €5.49 million in 2023 and employing over 120 people.

## Key Facts
- Founded in 2013 by Arturs Kruze and Kristaps Rjabovs.
- Headquartered in Riga, Latvia, with a postal code of 1011.
- Operates under the legal form of a limited liability company.
- Primary aliases include M* and Magebit.
- Revenue figures: €1.88 million (2020), €3.36 million (2021), €4.51 million (2022), and €5.49 million (2023).
- Employed 120 people as of February 2024.
- Owns the subsidiary Velocity Lab.
- Registered trademarks include Magebit in Australia (numbers 2302176, 2302206, 2039922) and the U.S. (serial numbers 79350246, 79350232).
- Active on social media with verified accounts on Twitter (since 2012), Facebook, Instagram, LinkedIn, and YouTube.

## FAQs
### Q: What industries does IDT Media serve?
A: IDT Media specializes in web development, e-commerce, and professional services, with a focus on digital transformation and technology solutions.

### Q: Who are the founders of IDT Media?
A: IDT Media was founded by Arturs Kruze and Kristaps Rjabovs in 2013.

### Q: What is the revenue of IDT Media?
A: IDT Media's revenue has grown from €1.88 million in 2020 to €5.49 million in 2023.

### Q: Does IDT Media have any subsidiaries?
A: Yes, IDT Media owns the subsidiary Velocity Lab.

### Q: Where is IDT Media headquartered?
A: IDT Media is headquartered in Riga, Latvia, at Aleksandra Čaka iela 125 – 7, LV-1011.

## Why It Matters
IDT Media plays a significant role in the Latvian technology sector, contributing to digital transformation and software development. The company has grown from its founding in 2013 to become a notable player in the information technology industry, with a focus on innovation and client-centric solutions. Its revenue growth and expansion into new markets highlight its strategic positioning and market relevance. By leveraging its expertise in web development and e-commerce, IDT Media supports businesses in their digital journeys, driving efficiency and growth. The company's commitment to professional services and technology solutions underscores its role in fostering digital innovation and economic development in Latvia.

## Notable For
- Registered multiple trademarks for Magebit globally, including in Australia and the U.S.
- Achieved substantial revenue growth, reaching €5.49 million in 2023.
- Operates a verified social media presence across multiple platforms.
- Owns the subsidiary Velocity Lab, expanding its business footprint.
- Provides professional services in web development and e-commerce, catering to a diverse client base.

## Body
### Overview
IDT Media, operating under the brand Magebit, is a Latvian software development company founded in 2013 by Arturs Kruze and Kristaps Rjabovs. The company is headquartered in Riga, Latvia, and specializes in web development, e-commerce, and professional services. It has grown significantly, with revenue reaching €5.49 million in 2023 and employing over 120 people.

### Legal and Operational Details
- **Legal Form**: Limited liability company.
- **Headquarters**: Riga, Latvia, at Aleksandra Čaka iela 125 – 7, LV-1011.
- **Subsidiaries**: Velocity Lab.
- **Trademarks**: Magebit is registered as a trademark in Australia (numbers 2302176, 2302206, 2039922) and the U.S. (serial numbers 79350246, 79350232).

### Financial Performance
- **Revenue**:
  - €1.88 million (2020)
  - €3.36 million (2021)
  - €4.51 million (2022)
  - €5.49 million (2023)
- **Employees**: 120 as of February 2024.

### Social Media Presence
- **Twitter**: Verified account since 2012.
- **Facebook**: Active profile.
- **Instagram**: Active profile.
- **LinkedIn**: Active profile.
- **YouTube**: Channel ID UCgSia5PNNQjXqX8pVGb8A0A, active since 2018.

### Industry and Services
- **Industries**: Information technology, web development, professional services, e-commerce, computer programming activities.
- **Services**: Digital transformation, technology solutions, web development, e-commerce.

### Leadership
- **Founders**: Arturs Kruze and Kristaps Rjabovs.
- **Current Leadership**:
  - Arturs Kruze (CEO since May 15, 2013)
  - Kristaps Rjabovs (CEO since February 19, 2016)

### Additional Information
- **Website**: [magebit.com](https://magebit.com)
- **Legal Entity Identifier**: 984500C606CCEC956B65
- **Latvian Unified Registration Number**: 40103659860

## References

1. [Source](https://company.lursoft.lv/en/idt-media/40103659860)
2. [Source](https://branddb.wipo.int/en/quicksearch/brand/WO500000001684367?sort=score%20desc&start=0&rows=30&asStructure=%7B%22_id%22:%22aebb%22,%22boolean%22:%22AND%22,%22bricks%22:%5B%7B%22_id%22:%22aebc%22,%22key%22:%22applicant%22,%22value%22:%22SIA%20IDT%20MEDIA%22,%22strategy%22:%22Simple%22%7D%5D%7D&_=1708515534417&searchBy=applicant&fg=_void_&i=3)
3. [Global Legal Entity Identifier Foundation](https://search.gleif.org/#/search/fulltextFilterId=LEIREC_FULLTEXT&simpleFilters%5Bentity.addresses.country%5D=LV)
4. [Source](https://www.la.lv/cetrkarso-pelnu-rupes-par-citiem)
5. [Source](https://blog.swedbank.lv/pa-celam-biznesa/pa-celam-biznesa-05-8598)
6. [Source](https://www.delfi.lv/bizness/44467736/tehnologijas/55411216/personiba-biznesa-kristaps-rjabovs-ar-biznesa-partneri-kopa-saveda-datorspeles)
7. [Source](https://info.ur.gov.lv/#/legal-entity/40103659860)
8. [Source](https://blog.amp.dev/2018/07/11/serverless-amp-solution-on-aws/)
9. [Source](https://www.lursoft.lv/gada-parskati/40103659860?l=en)
10. Register of Enterprises of the Republic of Latvia
11. [Source](https://company.lursoft.lv/en/velocity-lab/40203500620)
12. [Source](https://magebit.com/)
13. [Source](https://magebit.com)
14. YouTube API