IKANO Attributes its 1,253 Percent Revenue Growth
to a Philosophy of Innovation
Salt Lake City – IKANO Communications, the nation's largest provider of private-label Internet services, today announced that it ranked 175th on the 2004 Deloitte Technology Fast 500 listing of the fastest growing technology companies in North America. Highlighting both established and emerging technology companies, the rankings are based on percentage revenue growth over five years, from 1999–2003. IKANO grew 1,253 percent during this period.
IKANO's CEO, Henry Smith, credits the company's commitment to innovation and the efforts of its employees with the company's 1,253% revenue growth over the past five years. He said, "In an industry such as ours, it is simply not possible to hold steady. We must always be pushing forward and staying on the cutting edge. Our employees understand this focus and work hard to make sure that IKANO remains the premier company in our space."
"Making the Deloitte Technology Fast 500 is a testament to a company's commitment to technology," said Mark A. Evans, national managing partner of Deloitte's Technology, Media & Telecommunications Group. "With its 1,253% growth rate over five years, IKANO Communications has proven that its leadership has the vision and determination to grow in difficult conditions."
IKANO has received a total of $33.5 million in venture capital funding. During the past five years, the company expanded from 50 employees to more than 325 employees. IKANO ranked 132nd in the 2004 Inc. 500 listing of the nation's fastest growing companies. In 2003, the Initiative for a Competitive Inner City (ICIC) and Inc. Magazine ranked IKANO Communications second in the "Inner City 100," a listing of the fastest growing companies located in America's inner cities. In addition, the Mountain West Venture Group ranked IKANO the fifth fastest growing company in the state of Utah as part of its 2003 Utah 100 Awards program.
The Fast 500 list is compiled from Deloitte's 19 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research.
About IKANO
Stemming from the classical Greek word meaning, "to enable," IKANO is the market-leading enabler of private-label Internet services. IKANO partners with Internet Service Providers to help reduce operating costs, increase revenue and expand geographic reach/product offering. IKANO is the parent company of SISNA, one of the nation's original Internet Service Providers; Interhop/auracom, offering ISP franchises and consumer Internet services throughout Canada; and HOTSPOTZZ, one of the largest private providers of Wi-Fi hot spots. IKANO served as the official network provider for the 2002 Winter Olympic Games. For more information visit
www.ikano.com.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), 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 names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the U.S. member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP.
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About the Author
IKANO Communications
Tel: 801-924-0900
Fax: 801-924-0908
http://www.ikano.com
