To be eligible for this prestigious designation, a company must be a technology company, defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenue or devotes a significant proportion of revenues to the research and development of technology; has been in business for a minimum of five years with 1998 operating revenues of at least $50,000 and 2002 operating revenues of at least $1 million; and be headquartered in the United States or Canada.
This is the first year FindWhat.com has been eligible for the Fast 500 designation. However, last year FindWhat.com was ranked 11th on the 2002 North American Technology Rising Star list, which lists the 25 technology companies that have been in business less than five years and have the fastest revenue growth percentage over three years.
"The past five years have been a time of incredible ups and downs--for the economy, for the Internet and for online advertising--but FindWhat.com has posted rapid, consistent growth for the entire period," said Craig Pisaris-Henderson, chairman and CEO of FindWhat.com. "We are extremely proud to receive this recognition; credit goes to our incredible team, not just our employees, who have worked exceedingly hard, but to our clients and partners who make up one of the most effective online marketplaces: the FindWhat.com Network."
"It's not easy for a young company to get traction in the technology marketplace let alone report such phenomenal revenue growth," said Mark A. Evans, national managing partner of Deloitte's Technology, Media and Communications Group. "It's a credit to FindWhat.com's leadership that they achieved such significant revenue growth so quickly."
FindWhat.com operates online marketplaces that connect the consumers and businesses that are most likely to purchase specific goods and services with the advertisers that provide those goods and services. Online advertisers determine the per-click fee they will pay for their advertisements, which FindWhat.com and its private-label partners such as Terra Lycos's Lycos.com and HotBot distribute to millions of Internet users. The FindWhat.com Network includes hundreds of distribution partners, such as CNET's Search.com, Excite, Webcrawler, MetaCrawler, Dogpile, and Microsoft Internet Explorer Autosearch. Advertisers bid against each other for particular keywords or phrases through an open, automated, bid-for-position system, where the advertisement of the website with the highest bid appears first, with all other advertisers listed in descending bid order. This cost-effective, pay-for-performance model allows Web advertisers to pay only for those prospects which click-through to their sites, and increases their potential for exposure through the millions of advertisements distributed throughout the network per day. More information on FindWhat.com is available on the Company's website at http://www.FindWhat.com.
Deloitte, one of the nation's leading professional services firms, provides audit, tax, financial advisory services and consulting through nearly 30,000 people in more than 80 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte has been recognized as one of the "100 Best Companies to Work For in America" by Fortune magazine for six consecutive years. "Deloitte" refers to Deloitte & Touche LLP and affiliated entities. Deloitte is the U.S. member firm of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the name "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu" or other related names. The services described herein are provided by the U.S. member firm and not by the Deloitte Touche Tohmatsu Verein. For more information, please visit Deloitte's web site at www.deloitte.com/us.
Deloitte Technology, Media & Telecommunications Group The TMT group is composed of service professionals who have a wealth of experience serving technology, media and telecommunications throughout the world in areas including cable, communications providers, computers and peripherals, entertainment, media and publishing, networking, semiconductors, software wireless and related industries. These specialists understand the challenges that these companies face throughout all stages of their business growth cycle and are committed to helping them succeed. Deloitte is a leader in providing strategic, financial and operational assistance to its technology, media and telecommunications clients.
Forward Looking Statements This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "plan," "intend," "believe" or "expect'" or variations of such words and similar expressions are intended to identify such forward-looking statements. Key risks are described in FindWhat.com's reports filed with the U.S. Securities and Exchange Commission. Readers should note that these statements may be impacted by several factors, including economic changes and changes in the Internet industry generally and, accordingly, FindWhat.com's actual performance and results may vary from those stated herein, and FindWhat.com undertakes no obligation to update the information contained herein.
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