New Listing Reveals Fastest-Growing Technology Companies in Silicon Valley; This Year's 'Fast 50' Are Fastest Ever
09/13/1999
Business Wire
(Copyright (c) 1999, Business Wire)
SAN JOSE, Calif.--(BUSINESS WIRE)--Sept. 13, 1999--How fast is fast in Silicon Valley? At least 10 times faster than it was last year, according to a list of Silicon Valley's fastest-growing technology companies released today by Deloitte & Touche and Joint Venture: Silicon Valley Network.
Now in its fifth year, the Silicon Valley Technology Fast 50 recognizes the tremendous revenue growth and achievement of those companies that are driving the booming technology market and boosting the region's economy. Companies are selected based on percentage of revenue growth during the past five years, adjusted for pre-pooling-of-interest numbers (for fiscal 1994).
To be eligible for consideration in the Fast 50, technology companies must be headquartered in Silicon Valley and must have had 1994 revenues of at least $50,000. Subsidiaries are not eligible.
Average five-year revenue growth among the top 10 companies on the 1999 Silicon Valley Technology Fast 50 is an astonishing 115,833%, more than ten times greater than the average growth of last year's top 10 companies. Overall, the companies comprising this year's Fast 50 experienced average revenue growth of 24,307%, more than seven times faster than the 3,319% average growth of last year's Fast 50.
"The revenue growth of our Silicon Valley technology companies has been absolutely phenomenal," said Roy Avondet, Deloitte & Touche Partner-In-Charge of the Northern California High Tech Group. "These winners give true meaning to the words perseverance, creativity, risk and passion."
"It seems that Silicon Valley's legendarily fast growing companies are getting exponentially faster," said Ruben Barrales, President and CEO of Joint Venture: Silicon Valley Network. "Our challenge is to ensure that our region continues to provide the resources and environment that makes this kind of growth possible."
According to the 1999 Silicon Valley Technology Fast 50, the 10 fastest growing technology companies in Silicon Valley -- the fastest of the fast -- are (listed alphabetically): Avant! Corporation of Fremont; Concentric Network Corporation of San Jose; DeVries Data Systems, Inc., of Campbell; Excite, Inc., of Redwood City; Incyte Pharmaceuticals, Inc., of Palo Alto; Latitude Communications, Inc., of Santa Clara; Netscape Communications Corporation of Mountain View; Network Appliance, Inc., of Sunnyvale; Siebel Systems, Inc., of San Mateo; and Vitria Technology, Inc., of Sunnyvale.
These companies and the rest of the 1999 Silicon Valley Technology Fast 50 will be honored at a special black-tie dinner and awards ceremony at 6 p.m. on Sept. 16 at the San Jose Fairmont Hotel. The rankings of the Fast 50 -- including the No. 1 company -- will be announced at the dinner.
All companies on this year's list experienced revenue growth of at least 650% during the five-year period of 1994-1998. Nearly half of the companies (24) are new to the list, while the remainder have been listed at least once before. Two companies -- VERITAS Software and C-Cube Microsystems -- have made the list for five years running, earning them special Gold Circle Awards.
Seventeen of this year's Fast 50 companies are from the Software sector, nine are from the Semiconductor/Equipment industry, five each are from the Biotechnology, Internet and Communications/Networking sectors; four are Computers/Peripherals companies; two more are Medical/Scientific/Technical entities; one is a manufacturing company; and the remaining two are classified as Other.
Forty-five are public companies; five are privately held. Two of the 50 companies are headed by women; in fact, 1999 is the first year there is more than one female CEO in the Silicon Valley Technology Fast 50.
For more information about Deloitte & Touche's Technology Fast 50 and Fast 500 programs, visit www.fast50.com. For a free copy of the 1999 Silicon Valley Technology Fast 50 supplement, call 408/993-4300 or e-mail hightech@dttus.com.
About Deloitte & Touche
Deloitte & Touche (www.us.deloitte.com) is one of the nation's leading professional services firms and the fastest-growing Big Five firm. It provides assurance and advisory, tax, and management consulting services through more than 28,000 people in more than 100 U.S. cities. Deloitte & Touche's High Tech practice is headquartered in San Jose.
About Joint Venture: Silicon Valley Network
Joint Venture: Silicon Valley Network (www.jointventure.org) is a non-profit regional collaborative focused on preserving and improving Silicon Valley's economic vitality and quality of life. The organization brings together leaders from business, government, education and the community to develop solutions to issues affecting the Valley.
Funded by more than 120 local private- and public-sector investors, Joint Venture currently implements a number of policy programs in Silicon Valley, including the 21st Century Education Initiative, the Smart Permits Program, and the Healthy Communities Program, and has incubated several successful initiatives, such as Smart Valley.
In addition, Joint Venture provides reliable regional information about trends affecting the Valley through reports like the annual Index of Silicon Valley, the Internet Cluster Analysis, and the recently released Workforce Study.
The 1999 Silicon Valley Technology Fast 50 (listed alphabetically):
-- Abaxis, Inc.
-- Affymetrix, Inc.
-- Aspect Development, Inc.
-- Avant! Corporation
-- Brio Technology, Inc.
-- Catalytica, Inc.
-- C - Cube Microsystems, Inc.
-- CellNet Data Systems, Inc.
-- Clarify, Inc.
-- Concentric Network Corporation
-- DataPath Systems, Inc.
-- DeVries Data Systems, Inc.
-- Documentum, Inc.
-- DSP Communications, Inc.
-- E-TRADE Group, Inc.
-- Edify Corporation
-- Excite, Inc.
-- Gilead Sciences, Inc.
-- Hybrid Networks, Inc.
-- Hyperion Solutions Corporation
-- Incyte Pharmaceuticals, Inc.
-- Inhale Therapeutic Systems, Inc.
-- InnerDyne, Inc.
-- Input Software, Inc.
-- International Network Services
-- Landec Corporation
-- Latitude Communications, Inc.
-- Legato Systems, Inc.
-- Netscape Communications Corporation
-- Network Appliance, Inc.
-- Network Associates, Inc.
-- OmniCell Technologies, Inc.
-- P-COM, Inc.
-- Persistence Software, Inc.
-- Pinnacle Systems, Inc.
-- Power Integrations, Inc.
-- ProBusiness Services, Inc.
-- Rambus, Inc.
-- Remedy Corporation
-- Sanmina Corporation
-- SCM Microsystems, Inc.
-- Siebel Systems, Inc.
-- Silicon Storage Technology, Inc.
-- The Vantive Corporation
-- TMT, Inc.
-- Tyan Computer Corporation
-- USWeb/CKS
-- VERITAS Software Corporation
-- VISX, Inc.
-- Vitria Technology, Inc.
For more information on the top 10 Silicon Valley Technology Fast 50 winners
Contact: contact:
Avant!: Clayton Parker, 510/413-8011
Concentric Network Corporation: Jenna Dee, 408/817-2297
DeVries Data Systems, Inc.: Rosemarie Smith, 408/874-2325
Excite@Home: Melissa Walia, 650/556-2213
Incyte Pharmaceuticals: Dayna Wheeler, 650/845-4589
Latitude Communications: Janet Burnett, 408/988-7237
Netscape Communications Corporation: Kristen Hyland, 650/937-6053
Network Appliance, Inc.: Beth Johnson (InterActive Public Relations), 415/703-0400 x226
Siebel Systems: Tamara Stone, 650/295-5448
Vitria Technology, Inc.: Elaine Meis (Hart Cooper Partners), 415/665-8855
CONTACT: Joint Venture: Silicon Valley Network Rich Halberg, 408/938-1521 r_halberg@jointventure.org or Deloitte & Touche Kathy Maag, 408/795-4516 kmaag@dttus.com
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