AppLabs ranks 45th Fastest Growing Company in North America on Deloitte’s 2007 Technology Fast 500
October 24, 2007
Hyderabad, India; Philadelphia, USA; London, UK: AppLabs, the world’s largest software testing and quality management company, today announced that it ranked 45th on Deloitte’s 2007 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies headquartered in North America. These rankings are based on percentage of fiscal year revenue growth over five years, from 2002–2006. AppLabs grew 3680% during this period.
AppLabs’ Founder, Chairman and CEO, Sashi Reddi, credits hard work and commitment of all the AppLabs employees and the clients who have been there throughout the journey, with the company’s phenomenal revenue growth over the past five years. Reddi continues, “It is an honor to be named in the Deloitte Technology Fast 500 and we are indeed proud to be within the top 50 of the fastest growing companies in North America. This recognition not only reflects our commitment and dedication to customer service from our employees across the globe, but is also a validation of our growth strategy.”
"Deloitte’s Technology Fast 500 recognizes technology companies who have achieved extraordinary growth in North America’s most innovative and competitive sectors,” said Phil Asmundson, Vice Chairman, U.S. Technology, Media and Telecommunications, Deloitte & Touche USA LLP. "We congratulate AppLabs on this significant accomplishment."
Fast 500 Selection and Qualifying Criteria
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte’s 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500 and public company database research. Companies are selected based on percentage revenue growth from 2002 to 2006.
Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.
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