Leading Online Real Estate Marketplace Registers 1,629 Percent Revenue Growth in Five-Years
IRVINE, Calif., Oct. 18 /PRNewswire/ — RealtyTrac(TM) (http://www.realtytrac.com), the leading online marketplace for foreclosure properties, has been named to Deloitte’s prestigious Technology Fast 50 Program for Orange County, a ranking of the fastest-growing technology companies in the area. Based in Irvine, RealtyTrac ranked No. 4 in Deloitte’s 2007 Orange County Technology Fast 50 list with a revenue growth rate of 1,629 percent over five years (2002-2006).
“We are truly honored to once again be selected by Deloitte & Touche for this prestigious award,” said James J. Saccacio, chief executive officer of RealtyTrac. “This marks the second consecutive year that Deloitte has selected RealtyTrac to the Orange County Technology Fast 50 list, which is a great honor.
“Our employees deserve credit for such phenomenal growth. We commend our employees for their hard work and dedication to servicing the needs of our customers. We also wish to recognize our customers — real estate investors, home buyers and real estate professionals. We're pleased that RealtyTrac has provided these customers with the property information and research tools they've needed to successfully purchase foreclosure properties.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, 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.
“Sustaining high revenue growth over five years is an exceptional accomplishment,” said Rick Rayson, Managing Partner, Deloitte & Touche LLP in Orange County. “We commend RealtyTrac for making the commitment to technology and delivering on the promise of market longevity. We are proud to honor RealtyTrac to Deloitte's Technology Fast 50.”
RealtyTrac, along with other finalists from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in 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 http://www.fast500.com.
“When our current management team took control of the business back in 2001 — when foreclosure activity was at an historic low — we made a decision to devote substantial amounts of capital and manpower into developing technology that would conveniently deliver the most comprehensive and accurate foreclosure data nationwide,” Saccacio said. “That decision has paid off, allowing us to develop a loyal and growing customer base and positioning RealtyTrac as the go-to source for foreclosure data — a commodity that is becoming increasingly sought after in today's real estate market.”
About RealtyTrac Inc.
Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine's 2006 Inc. 500 list of the nation's fastest-growing private companies, RealtyTrac Inc. (http://www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.
Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal's Real Estate Journal. For current news and information regarding foreclosure-related issues and trends, visit our blog at http://www.ForeclosurePulse.com.
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
SOURCE RealtyTrac Inc.
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