Snap Interactive Ranked the 194th Fastest Growing Company in North America on Deloitte's 2013 Technology Fast 500™
NEW YORK, Nov. 15, 2013 /PRNewswire/ -- Snap Interactive, Inc. ("SNAP" or the "Company") (OTCQB: STVI), a leading social dating developer and owner of AYI.com, today announced it ranked 194th on Deloitte's 2013 Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. SNAP's revenue grew 539% from 2008 to 2012.
SNAP's chief executive officer, Clifford Lerner, credits the ability to identify unique opportunities and rapidly execute and iterate on its product vision in the fast moving social dating space as the catalyst for the Company's 539% revenue growth.
"We are honored to be recognized again by Deloitte, particularly in the New York Metro area which is rapidly improving its reputation as a home for technology innovators and entrepreneurs," said Lerner. "As the social dating industry has evolved, we have seen tremendous opportunities to use our platform to connect people in meaningful ways. Our growth can be attributed to the exciting opportunities for growth by building on top of Facebook's Developer Platform, as well as the breadth of engineering talent in New York City."
"The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. "This year's list is a who's who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next."
"The fastest growing companies in the US are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace, and software, biotech/pharma and internet companies continue to be at the forefront," added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. "The companies excelling in these sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year."
SNAP previously ranked 36th as a Technology Fast 500™ award winner for 2012.
About Deloitte's 2013 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Snap Interactive, Inc.
Snap Interactive, Inc. develops, owns and operates a social dating application for social networking websites and mobile platforms. SNAP's flagship brand, AYI.com is one of the largest social and mobile dating applications on the Internet and offers a completely integrated Facebook, iPhone, Android and Web dating application. With 51% of singles reporting 'bad' experiences when meeting people online, AYI.com's mission is to improve the online dating experience of meeting new people by integrating a user's friends and interests to enable more meaningful connections. For more information on SNAP, please visit http://www.snap-interactive.com/, its online dating blog at http://www.ayi.com/dating-blog, on Facebook at facebook.com/SnapInteractiveInc and on Twitter at @SNAPInteractive.
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Facebook® is a registered trademark of Facebook, Inc. iPhone® is a registered trademark of Apple Inc. Android® is a registered trademark of Google Inc. AYI.com® is a registered trademark of Snap Interactive, Inc.
SOURCE SNAP Interactive, Inc.