CityXpress ranks among North America's fastest-growing companies in 2007 Deloitte Technology Fast 500 program
Ranking of 197th based on revenue growth o f 830 percent in 2002-2006
VANCOUVER, British Columbia - November 6, 2007 - CityXpress Corp., a leading developer of revenue-generating marketplaces for media companies, today announced that it has earned a place among North America's fastest-growing technology companies for the second consecutive year, as ranked in the prestigious 2007 Deloitte Technology Fast 500.
The Fast 500 rankings are based on percentage of growth in fiscal year revenues over five years, from 2002 to 2006. CityXpress ranked 197th in the Technology Fast 500 with revenue growth of 830 percent, primarily as a result of the expansion of its newspaper auction program in international markets, including Europe, South America, Africa and Australasia.
"We are continuing to find new markets internationally for our auction and classified platforms, while extending our penetration into our existing markets, and we anticipate that this will fuel our growth in fiscal 2008 and in years to come," said Phil Dubois, president and CEO of CityXpress. "We're thrilled to rank among Deloitte's Technology Fast 500 for a second year, and we hope our continuing growth will keep us in this dynamic company for years to come."
"To rank on Deloitte's Technology Fast 500, companies must achieve phenomenal revenue growth over five years," said Phil Asmundson, vice chairman, U.S. Technology, Media and Telecommunications, Deloitte & Touche USA LLP. "We applaud CityXpress for being among the fastest growing companies in North America."
In 2007 CityXpress has continued to expand outside North America, conducting its first newspaper auctions in Norway, Denmark, Finland and Puerto Rico. In addition, the company is successfully extending its products to the broadcast market, with sales to leading broadcasters in the U.S. and Australia.
In September, CityXpress was named to the Deloitte Technology Fast 50 for Canada, where the company is based. Winners of 10 regional Fast 50 programs in the U.S. and Canada are automatically entered in the Fast 500 program, which ranks North America's top 500 fastest-growing technology companies. For more information on the Fast 50 and Fast 500 programs, visit www.fast50.ca or www.fast500.com .
About CityXpress Corp.
CityXpress Corp. (www.cityxpress.com) is a leading developer of revenue-generating marketplace products and programs for newspapers and the broadcast media. Founded in 1999, CityXpress works with clients across North and South America, Europe, Australasia and Africa to stage local event and continuous auctions, as well as develop online classified marketplaces. CityXpress provides its customers with hosted software, sales training programs, and customer support services. The company currently provides services to newspaper companies including Advance Publications, MediaNews Group, McClatchy, Gannett, Lee Enterprises, Scripps, the New York Times Company, the Tribune Company, Ottaway Newspapers, CanWest, the Northcliffe Newspapers Group and Fairfax. Headquartered in Vancouver, British Columbia, CityXpress also maintains an international office in London.
This press release and/or communication contains forward-looking statements regarding the Company's business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties, such as the Company's capital requirements and other liquidity concerns, fluctuations in demand for newspaper auctions and for the Company's other products, competition, technological developments, and other risks and factors. These and other important factors may cause actual results and performance to differ materially from the results expressed in or implied by such forward-looking statements. The forward-looking statements are based on information available to the Company and speak only as of the date hereof. The Company does not assume, and expressly disclaims any obligation or duty to update or revise any of the information presented herein.