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TechTarget Named to Inc. 500 List of Fastest Growing Private Companies in United States
NEEDHAM, Mass. -- November 2, 2004 -- Information technology (IT) media company TechTarget announced today that the company has been named to the Inc. 500 in its first year of eligibility. The 23rd annual Inc. 500 ranks the fastest growing privately held US companies according to average year-over-year sales growth between 2000 and 2003. TechTarget ranked 425th, with year-over-year sales growth of 89% between 2000 and 2003. TechTarget is among only 102 companies founded in 1999 that made the list.
The Inc. 500 is widely regarded as the most prestigious indicator of growth among private companies in the United States. Inc. 500 alumni include such companies as Microsoft, Timberland, Oracle, E* Trade, and Intuit. The Inc. 500 special issue, on newsstands now, will be on display until December 21, 2004.
TechTarget has grown 13,361% in the time between its founding in 1999 and the close of 2003, a period during which most IT media companies experienced steep declines in revenues. From 2000 to 2003—the years measured by the Inc. 500—TechTarget grew at an aggregate rate of 354%. In 2004, TechTarget quickened these gains: in a separate announcement today, TechTarget released third-quarter results showing a 42 percent increase in online advertising revenues relative to the same quarter last year. The company also reported a 40 percent increase in year-to-date revenues relative to the same period last year, with significant gains in each line of business and a record profit.
“In the four years measured by the Inc. 500, TechTarget’s focus on advertiser ROI has provided technology marketers with a meaningful alternative to competitive offerings," said TechTarget CEO Greg Strakosch. "As advertising budgets shrank, IT marketers reassessed their advertising priorities and allocated larger percentages of their budgets to our targeted advertising vehicles. TechTarget seized market share from competitors, and became the model to which our competitors looked for innovative media and events. The principles of innovation and accountability that enabled TechTarget to grow in our first five years will sustain our growth in the future.”
About the Inc. 500
To be eligible for this year’s Inc. 500, companies had to be independent and privately held through their fiscal year 2003, have had at least $200,000 in net sales in the base year of 1999 for Inc. 500 alumni and 2000 for new applicants, and $2 million in net sales for 2003. In addition, 2003 sales had to exceed 2002 sales. Companies were ranked on average year-over-year sales growth. Inc. verified all information using tax forms and audited financial statements from certified public accountants and conducted interviews with company officials. Beginning November 1, the full Inc. 500 list will be available to Inc. subscribers online at www.inc.com. Inc. is the premier publication focusing on small to medium-size businesses, which are responsible for more than half the nation's gross domestic product and 75% of its new jobs.
About TechTarget
TechTarget produces the most targeted media for enterprise information technology (IT) professionals, including invitation-only conferences; controlled, qualified e-newsletters; Webcasts; two magazines, Storage and Information Security; and the TechTarget network of Web sites targeting specific sectors of the IT market. TechTarget leads the industry in developing innovative advertising vehicles that address IT marketers' need for high-ROI branding and lead-generation programs. The leading IT companies in the world rely on TechTarget media to reach qualified IT professionals with buying power. TechTarget has more than 2,000 advertisers, including IBM, Microsoft, Oracle, HP, Cisco, Intel, and EMC. More information about TechTarget is available at www.techtarget.com
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Contact:
Marilou Barsam
Senior Vice President, Client Services & Corporate Marketing
617-431-9368
888-274-4111 x 9368
mbarsam@techtarget.com
Chris Olive
Director of Corporate Marketing, Events and Public Relations
617-431-9374
888-274-4111 x 9374
colive@techtarget.com |
