Virage Ranked 105th Fastest Growing Technology Company in North America on the Deloitte & Touche Technology Fast 500 Program
Attribute Five-Year 5,517-Percent Revenue Increase to Rapid Growth Across Corporate, Media & Entertainment, Government and Education Markets
SAN MATEO, Calif. - November 19, 2001 - Virage, Inc. [Nasdaq: VRGE], a leading provider of enterprise-scale video content management and publishing solutions, today announced that it ranked number 105 on the 2001 Deloitte & Touche Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on a five-year percentage revenue growth from 1996-2000. Virage grew 5,517 percent during this period.
Virage's CEO, Paul Lego, credits wide-scale acceptance of Virage's leading video content management and publishing solutions to the company's revenue growth.
"We're honored to be named as one of the fastest growing technology companies nationwide," said Lego. "And we're especially pleased to be the highest ranked streaming media company on the list. We attribute our strong growth to having great technology and solutions that appeal to a broad range of markets and customers."
"With its ranking on the prestigious Deloitte & Touche Technology Fast 500, Virage's leaders have proven that they have the vision and the fortitude to excel in the highly competitive technology industry," said Mark A. Evans, managing director of Deloitte & Touche's Technology & Communications Group. "We congratulate them on becoming one of the 500 fastest growing technology companies in the U.S. and Canada."
In addition to ranking on the Deloitte & Touche Technology Fast 500, Virage ranked 29 on the Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in the Silicon Valley.
Overall, companies that ranked on the 2001 Technology Fast 500 had five-year growth rates ranging from 115,874 to 824 percent, with an average growth rate of 6,184 percent.
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from three sources: winners of Deloitte and Touche's 22 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify as a Rising Star in the Deloitte & Touche Technology Fast 500, entrants must have had 1998 revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively. Entrants are public or private companies headquartered in North America and must be a "technology company," defined as a company that develops proprietary technology which contributes to a significant portion of the company's operating revenues, manufactures a technology-related product, or devotes a high percentage of effort to research and development of technology.
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 our clients and our people excel. Known as an employer of choice for 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 U.S. 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.
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. From ABC News to Yahoo, more than 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. Contact Virage at http://www.virage.com or
(650) 573-321
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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