Tutor.com Named One of New York's Fastest Growing Technology Companies in Deloitte's Technology Fast 50 Program
Impressive Near 4000% Revenue Growth Ranks Company 6th-Highest in Region
NEW YORK, NY – September 19, 2006 – Tutor.com has been named to Deloitte's prestigious Technology Fast 50 Program for the New York Region, a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on percentage revenue growth of companies over five years from 2001-2005.
"This is a special acknowledgement of how far we've come over the past five years,"said Tutor.com Founder and CEO George Cigale, saying that this honor affirmed Tutor.com's strategic direction and thanking employees for the dedication that made the company's 3,973% revenue growth from 2001-2005 possible. Tutor.com's near 4000% increase in revenues from 2001-2005 resulted in the company being ranked an impressive 6th in the 2006 Technology Fast 50 for New York, which were announced last week at a special ceremony at The New York Ritz Carlton Battery Park. The average increase in revenues among companies who made the Technology Fast 50 for New York was 1,825%.
"Fast growth is great—and managing the company so that it's ready for even faster and profitable growth in the next five years is the exciting place we find ourselves today," Cigale explained. "Sustaining high revenue growth over five years is an exceptional accomplishment. We commend Tutor.com for making the commitment to the technology sector in the New York Region," said Ed Moran, Director of Product Innovation/Leader Nanotechnology Industry Practice, Deloitte Services LP, New York.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2001 and $5,000,000 in 2005, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property 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 or intellectual property in a unique way does not qualify.
Over the past five years, Tutor.com has worked with libraries and educational institutions to provide students in their communities with one-to-one on-demand homework help from experienced tutors online. The flagship Live Homework Help service it launched in 2001 has served over 1,000,000 students to date. Tutor.com also works with libraries to provide online reference software and experienced librarian staffing solutions through its Ask A Librarian service. With the near 4000% revenue growth from 2001-2005, the business today serves some 1,500 library and other sites across the U.S. and Canada. "Deloitte's New York Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today's very competitive technology environment,"said Moran. "We applaud the successes of Tutor.com and acknowledge it as one of few companies in this region to accomplish such fast growth."
Winners of the 16 regional Technology Fast 50 programs in the United States and Canada are eligible to be entered into the Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
Tutor.com is the leading provider of one-to-one learning and information solutions for libraries, educational institutions and individuals. Tutor.com's flagship service, Live Homework Help, is currently offered at 1,500 library and afterschool sites across the U.S. and Canada. Using innovative technology, Tutor.com's suite of services allows users to get one-to-one help online from expert tutors and professional librarians where and when they need it. These highly personalized services are supported with superior training, communications, tracking and reporting features and customer service and support. To learn more about Tutor.com's services and for a complete client list, please visit Tutor.com.