Fastest Growing Technology Companies in North America Revealed in the Deloitte Technology Fast 500; MyFamily.com, Inc. Ranks #286
PROVO, Utah, Oct. 15 /PRNewswire/ -- MyFamily.com, Inc. today announced that it ranked #286 on the 2003 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on average percentage revenue growth over five years, from 1998-2002. MyFamily grew 1027% during this period.
MyFamily.com has thrived despite the bursting of the Internet "bubble" and continued stagnation in the economy, with revenue in the core online subscription businesses consistently growing nearly 100% annually. Emerging as an early leader in online subscription businesses with its flagship Ancestry.com family history service, the MyFamily.com suite of premium content sites has over 1.25 million paid subscriptions and more than 10 million people using its Web resources every month.
MyFamily's growth can be attributed to a focus on a solid business model, an approach that ran counter to the "grow fast and cash out" model common during the boom, but that became key when the economy declined. These long-term strategies continue to move MyFamily forward in a more conservative economic recovery.
"Achieving sustained revenue growth of 1027% over five years is a tremendous accomplishment during a difficult period for the technology sector," said Mark A. Evans, national managing partner of Deloitte's Technology, Media & Telecommunications Group. "MyFamily's phenomenal growth puts it in select company."
The Fast 500 ranks public and private technology companies headquartered in North America. A technology company is defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify. Deloitte verifies all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.
Deloitte, one of the nation's leading professional services firms, provides audit, tax, and 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.
About MyFamily.com, Inc.
MyFamily.com, Inc. is among the largest online subscription businesses, with over 1.25 million paid subscriptions and more than 10 million people using its Web resources every month. An interactive media company, MyFamily.com connects families with their histories and one another. The company enriches the lives of its customers by providing the tools, content and community that empower them to find the people most important to them and share their unique family stories. The MyFamily network of Internet properties includes MyFamily.com, Ancestry.com, Genealogy.com, and RootsWeb.com. The company also publishes Family Tree Maker(R), the #1 selling family tree software, Ancestry Magazine, Genealogical Computing Magazine, over 50 book titles, and numerous databases on CD-ROM.
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