Speedera ranked 2nd fastest growing private firm

By SiliconIndia   |   Friday, 31 October 2003, 08:00 Hrs
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SANTA CLARA: Speedera Networks, a leading provider of on-demand global content delivery services, on Thursday announced that it has been recognized as the #2 Fastest Growing Private Company in Silicon Valley by the San Jose Business Journal and PricewaterhouseCoopers, which verified the financial data for all participating companies.

Companies were ranked by percentage revenue growth during the period 2000-2002. Speedera has been cash flow positive for the past two quarters. The company more than doubled revenues for the full fiscal year ended June 30, 2003. In its most recent quarter ended September 30, 2003, Speedera's revenue grew 12 percent during the month of September alone.

Speedera laid claim to increasing market share as it notched its thirteenth quarter in a row of rising revenues since the public launch of the company in May, 2000.

"Receiving this industry recognition is an honor and a testament to the outstanding drive and passion of Speedera employees to make our company the leading provider of global, on-demand Web site delivery services," said Ajit Gupta, president and CEO of Speedera Networks. "Our rapid growth and our cash flow positive finances demonstrate that we are doing the right things for our customers and that our outsourced, on-demand services model provides compelling value. That said, we are also seeing strong indications of an uptick in the economy generally, as traffic on our network has risen dramatically in recent months, reflecting increased demand from both new and existing customers."

Speedera announced deals with a record number of new customers during the 2003 fiscal year, with leading organizations such as American Eagle Outfitters, NASA, Fox Broadcasting, Sony Music Entertainment, the National Hockey League, AtomShockwave, and many other well-known media and entertainment companies, Internet retailers, online marketers, high technology firms, and Federal Government agencies. A large number of new customers were previously customers of rival service provider, Akamai
Technologies (NASDAQ: AKAM). Customers cited Speedera's stellar customer service, greater flexibility, superior patented technology, and lower total cost of service as reasons why they selected Speedera.

To further cement its leadership position, Speedera has made major advances with the following initiatives within the past 30 days:
* Introduced the new SpeedRank Internet Health Index, which ranks the performance and availability of 100 top Web sites.
* Integrated Web analytics into its SpeedSuite family of services through a partnership with Omniture.
* Expanded its international presence by announcing deals with global companies such as Clarins (France), and NDTV (India).

"We believe that the growth we have seen in 2003 will continue well into the future," said Gupta. "The content delivery industry has been transformed as it has expanded well beyond its former borders. New services for web analytics, geo-targeted delivery, and policy-based storage management are just a few of our recent initiatives, which will drive additional revenue growth. Much more is yet to come as we expand into distributed applications and other new services."

Speedera Networks is financially backed by Banc of America Securities, a unit of Bank of America Corp. (NYSE: BAC), Balanced Growth Fund, Continuum Group, Deutsche Bank AG, Hewlett-Packard (NYSE: HWP), Industry Ventures, Oracle Corp. (NASDAQ: ORCL), Palo Alto Investors, and Trinity Ventures.

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