Webs.com (Freewebs) Ranks 119th Fastest Growing Company in North America on Deloitte's 2008 Technology Fast 500
* Reuters is not responsible for the content in this press release.
SILVER SPRING, MD, Nov 12 (MARKET WIRE) -- Webs.com (formerly Freewebs) today announced that it ranked number 119 on Deloitte's 2008 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage of fiscal year revenue growth over five years, from 2003-2007. Webs.com grew 1704.23 percent during this period. Web's CEO, Haroon Mokhtarzada, credits an innovative and adaptable social publishing platform with the company's 1700% revenue growth over the past five years. "In the beginning, we innovated website-building by making it as easy to do as sending an email," said Mokhtarzada. "But the internet is no longer about one-way publishing. Social interaction now drives online traffic and public opinion and we have evolved to accommodate the internet's social evolution. We owe our success to an adaptable platform and constant innovation in online publishing." "Each company on Deloitte's Technology Fast 500 is an innovator with an exceptional five-year track record of growth," said Phil Asmundson, Deloitte LLP vice chairman and national managing partner for Technology, Media and Telecommunications. "Webs.com has earned its position among the fastest growing companies in North America, and we are proud to honor this important accomplishment." In addition to ranking on Deloitte's Technology Fast 500, Freewebs ranked number five on the Greater Washington Regional Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in the Washington, D.C. region. Fast 500 Selection and Qualifying Criteria The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte's regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2003 to 2007. Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America. About Webs.com Launched in 2001 by the Mokhtarzada brothers, Webs.com (Freewebs) had a simple mission -- to create a website building service easy enough for their mother to use. Five years and millions of websites later, Webs.com received its Series A funding from Novak Biddle Venture Partners and Columbia Capital in August 2006. In 2008, Webs.com added popular social media applications like photo and video galleries, Web stores, calendars and a widget bank to enable users to further customize their sites. Webs.com, located in Silver Spring, M.D. now boasts 20 thousand user signups a day and over 30 million unique visitors to their sites each month. For more information, visit www.Webs.com. About Deloitte As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Media and Analyst Contact: Matthew Dornic President 3 Dog Agency (m) +1 443.414.1393 (o) +1 202.787.1807 email@example.com Copyright 2008, Market Wire, All rights reserved. -0-