Virage Named One of Silicon Valley's Fastest Growing Technology Companies in Deloitte & Touche's Fast 50 Award
SAN MATEO, Calif., October 15, 2001 - Virage, Inc. [Nasdaq: VRGE], a leading provider of enterprise-scale video content management and publishing solutions, has been selected as a winner of Deloitte & Touche's prestigious "2001 Technology Fast 50" Award for Silicon Valley, a ranking of the 50 fastest growing technology companies in the area. Rankings are based on the percentage of growth in revenues for the five-year period from 1996-2000. Virage's total growth for this period of time was 5,517 percent, ranking it 29th in a very competitive field.
"It is an honor to receive this distinction, and especially to share the stage with the other leading companies who have been recognized," said Paul Lego, CEO of Virage. "I'm very proud of the progress that our team has made over the past five years. In 1996, our market - video on the Internet - simply didn't exist. Our team created an Internet-based platform that enables people to publish, manage and distribute their video content more efficiently and cost effectively. As a result, we now have a diverse group of more than 300 customers and a rapidly growing business."
"Making the Fast 50 is an impressive accomplishment, particularly in uncertain economic times, and we at Deloitte & Touche congratulate Virage for attaining this honor," said Roy Avondet, managing partner Deloitte & Touche.
To qualify for the Fast 50, a company must meet the following prerequisites: a company with operating revenues of at least $50,000 in 1996 and $1,000,000 in 2000; a public or private company headquartered in the Silicon Valley; a "technology company" defined as a company that produces technology, manufactures a technology product, or devotes a high percentage of effort to research and development of a technology.
Winners of the 22 regional Fast 50 programs in the United States and Canada are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www.fast500.com.
About Virage, Inc.
Headquartered in San Mateo, California, Virage is the leading provider of enterprise-scale video content management and publishing solutions. The Virage Video Application Platform transforms video into an effective online medium that is easy to publish, manage and distribute on the Internet or corporate intranets. The Virage platform provides content owners with the complete infrastructure for seamlessly integrating streaming video into business, entertainment and information applications. Over 300 customers across a broad range of markets have turned to Virage to help them improve production efficiencies and create new revenue opportunities with video including: CNN, CNET, CBS, MGM, Bloomberg, Harvard, Stanford, Princeton, Cisco, GM, the Coca Cola Company, NY Stock Exchange, DARPA, NASA, FBI and the Library of Congress. Contact Virage at http://www.virage.com/ or (650) 573-3210.
About Deloitte & Touche
Deloitte & Touche LLP, one of the nation's leading professional services firms, provides assurance and advisory, tax and management consulting services through nearly 30,000 people in more than 100 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for its innovative human resources programs, Deloitte & Touche has been recognized as one of the "100 Best Companies to Work For in America" by Fortune magazine for four consecutive years. Deloitte & Touche is the US national practice of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity. For more information, please visit Deloitte & Touche's web site at www.us.deloitte.com.
About Deloitte & Touche's Technology & Communications Group
The Technology & Communications Group is composed of service professionals who have a wealth of experience serving technology and communications companies throughout the world in areas including Internet, software, semiconductors, cable, media and publishing, communication utilities, networking, wireless, computers and peripherals, and related industries. These specialists understand the challenges that technology and communications companies face throughout all stages of their business growth cycle and are committed to helping them succeed. Deloitte & Touche is a leader in providing strategic, financial, operational, and information technology assistance to its technology and communications clients.
Forward Looking Statements
This press release contains "forward looking" statements about the products and services of Virage, as that term is used in Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are denoted by such words as "will provide", "intends to" and similar terms and phrases. These types of statements address matters that are subject to risks and uncertainties, which could cause actual results to differ materially. In addition, our forward-looking statements should be considered in the context of other risk factors discussed in our filings with the Securities and Exchange Commission, including our Registration Statement on Form S-1, as amended, available online at http://www.sec.gov. All forward-looking statements are based on information available to the company on the date hereof, and the company assumes no obligation to update such statements.
Virage and VideoLogger are registered trademarks and the Virage logo, Video Application Server and SmartEncode are trademarks of Virage, Inc. Other company product and service names may be trademarks or service marks of others, and are hereby acknowledged.
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