Vibrant Growth For StarCite Since Start of 2011

Vibrant Growth For StarCite Since Start of 2011

StarCite is experiencing vibrant marketplace growth so far in 2011, reporting 52% growth in corporate meetings requests flowing through its Global Online Marketplace for the first quarter of the year. Total room night volume for the first quarter was up 68% over last year. StarCite also added several new clients during the quarter including three Fortune 500 corporations from the healthcare, pharmaceutical and technology industries.

“Momentum for strategic meetings management is building from companies across the board, from those with mid-sized to massive meetings programs,” said Greg Dukat, StarCite CEO. “Companies are looking to drive greater value from every dollar they invest in meetings and events while operating their meetings programs more efficiently. We can’t wait to see what the rest of 2011 will bring.”

StarCite was recently the only meetings management technology company featured on the 2011 Supply & Demand Chain Executive 100, a prestigious list of successful and innovative projects that are delivering bottom-line value for businesses. Illustrating this potential, StarCite’s work with one of the world’s leading pharmaceutical companies was recognized for generating millions of dollars in savings on the company’s meetings spend, thanks to a strategic sourcing approach to meetings planning and booking.

Over the past five years, StarCite’s revenues have grown by 191% – which made it the only meetings management technology company ranked among the Deloitte Fast 500 fastest growing companies in North America in 2010.

Since the start of 2011, StarCite has also announced a number of major innovations to its platform:

• The launch of Nexus, a new generation of technology with unmatched flexibility, simplicity and depth that is driving more value and a better user experience for buyers and suppliers alike.
• A set of powerful new Supplier Marketplace programs enabling hotels to increase their relevance and become more visible to meeting planners searching for meeting locations through StarCite. These programs are giving hotels new opportunities to maximize their reach across StarCite’s industry-leading online marketplace.

“We’re thrilled with the reception for these innovations,” Dukat said. “By bringing meetings management into ‘the cloud’ through Nexus, we’re offering the most customizable and flexible option for meetings management available. We will keep pushing the envelope as we look to make it even easier for companies to adopt meetings management and make the most of their investment in connecting people to get business done.”

About StarCite, Inc.

StarCite, Inc. provides a technology platform that makes meetings and event planning, booking and management simpler and more cost-effective for corporations, hotels, venues and meetings suppliers worldwide. StarCite delivers visibility, cost savings and control over meetings spending for businesses and enhanced revenue opportunities for suppliers. Through Web-based, on-demand technology, StarCite automates and supports every key element of the meetings planning and procurement process: planning, budgeting, buying, marketing and managing attendees, payment, and results measurement. Using StarCite’s proprietary online marketplace, meetings buyers can connect and conduct business with over 83,000 hotels, venues, destinations and suppliers globally. StarCite is based in Philadelphia, PA and has offices worldwide. Its equity holders include Internet Capital Group (NASDAQ: ICGE), TPG Growth, Norwest Venture Partners (NVP), and TL Ventures. For more information about StarCite please visit www.starcite.com.

StarCite Media
Sloane & Company
John Hartz, 857-598-4779
jhartz@sloanepr.com