CityXpress Ranks 52nd in PROFIT 100 List of Canada's Fastest-Growing Companies
Company registers revenue growth of 1,184 percent in 2002-2007
VANCOUVER, British Columbia - June 10, 2008 - CityXpress Corp., a leading developer of advertising programs that directly connect local merchants with consumers through a network of media and online partners, today announced that its five-year revenue growth has earned it 52nd place in the 20th annual PROFIT 100 ranking of Canada's Fast-Growing Companies. The ranking is compiled by the magazine PROFIT: Your Guide to Business Success.
From 2002 to 2007, the period measured for this year's PROFIT 100, CityXpress' revenue grew by 1,184 percent, driven largely by the growth of its newspaper auction program in North America and in international markets such as Europe, Australasia and South America.
Ranking Canada's Fast-Growing Companies by five-year revenue growth, the PROFIT 100 profiles the country's most successful growth companies. Published in the June issue of PROFIT and online at PROFIT100.com, the PROFIT 100 is Canada's largest annual celebration of entrepreneurial achievement.
"The PROFIT 100 are role models for anyone who wants to expand their business domestically or internationally," said Ian Portsmouth, editor of PROFIT. "All entrepreneurs can take great lessons from the product development, human resources and marketing practices of Canada's Fastest-Growing Companies."
"This marks the third consecutive year we have been recognized among Canada's fastest-growing companies," said Phil Dubois, president and CEO of CityXpress. "Our revenue growth is a reflection of our ability to deliver an advertising program that meets the needs of local advertisers and media worldwide. During the period covered by this award we have sold more than 375,000 locally-based products and placed almost $300 million of advertising with newspapers and broadcast companies."
In 2007 CityXpress continues to grow in international markets, staging first auctions in several Scandinavian countries and signing a reseller for the company's products in Latin America. The company's reach also extends into the broadcast market, where it has launched a number of classified marketplaces for television clients.
About CityXpress Corp.
CityXpress Corp. (www.cityxpress.com) is a leading developer of advertising programs that connect local merchants with a network of worldwide media companies, allowing businesses to fund their programs and leveraging their purchasing power by auctioning off the products or services they carry. Founded in 1999, CityXpress has operations in North and South America, Europe and Australasia. CityXpress provides its customers with its hosted software, sales training programs, and customer support services. Headquartered in Vancouver, British Columbia, CityXpress maintains an international office in London.
About PROFIT Magazine
PROFIT: Your Guide to Business Success is Canada's pre-eminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For more than 25 years, Canadian entrepreneurs across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them increase their revenues, boost their profitability and get the recognition they deserve for generating positive economic and social change. Published six times a year by Rogers Publishing Ltd., PROFIT is distributed almost exclusively to the chief executives of companies with 5 to 250 employees and annual revenue of $1 million to $25 million, reaching more than 300,000 readers across Canada. Visit PROFIT online at www.profitmagazine.ca.