Visionary Executive Honored for Initiating Company’s Dramatic Turnaround, Explosive Growth into Leading Online Real Estate Marketplace
IRVINE, Calif. – June 18, 2007 – RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure properties, today announced that CEO James J. Saccacio is a finalist for the Ernst & Young Entrepreneur of the Year® 2007 Orange County Award program. Award winners will be announced at a special gala event tomorrow evening at the Hyatt Regency Irvine.
Saccacio was selected as a finalist from nearly 80 nominations by a panel of independent judges. According to Ernst & Young, the awards program was designed to recognize outstanding entrepreneurs on a regional, national and global level who are building and leading dynamic, growing businesses.
“I am honored to be selected as a finalist for this prestigious entrepreneurial award from Ernst & Young, especially given the number of brilliant business leaders who work in Orange County,” Saccacio said. “But even more so I am humbled because I know that this recognition is largely due to all the hard work and dedication of the wonderful employees I am privileged to lead. Without them, RealtyTrac’s incredible success over the past few years would not have been possible.”
After taking over as chairman and CEO in October 2000, Saccacio guided RealtyTrac to profitability in just 13 months and has overseen revenue growth of more than 4,600 percent over the past four years. Under his leadership, RealtyTrac has expanded from a niche business serving a small segment of real estate agents in Southern California into the nation’s leading online foreclosure marketplace, and one of the fastest-growing real estate websites of any kind, appearing in both the 2006 Inc. 500 and the 2006 Deloitte North American Fast 500. Saccacio has been the driving force behind the company’s growth, which has seen its traffic grow to nearly 3 million unique monthly visitors, and become the most widely quoted source of foreclosure trend information.
The Ernst & Young Entrepreneur of The Year awards program celebrates its 21st anniversary this year. Awards are given to entrepreneurs who have demonstrated excellence and extraordinary success in such areas as innovation, financial performance, and personal commitment to their businesses and communities.
Regional award winners are eligible for consideration for the Ernst & Young Entrepreneur of The Year 2007 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur 0f The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 17, 2007. The national Entrepreneur of The Year celebration is part of Ernst & Young’s Strategic Growth Forum. The overall national Entrepreneur of The Year award recipient is then considered for the world event held in Monte Carlo.
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. (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 www.ForeclosurePulse.com.
About the Ernst & Young Entrepreneur Of The Year Awards
The Entrepreneur Of The Yearâ awards program was created and is produced by professional services firm Ernst & Young LLP. As the first award of its kind, the Ernst & Young Entrepreneur Of The Yearâ Award recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. The program, which celebrated its 20th anniversary in 2006, honors entrepreneurs through regional, national and global award programs in over 125 cities and 40 countries.
About Ernst & Young
Ernst & Young, a global leader in professional services, is committed to enhancing the public’s trust in professional services firms and in the quality of financial reporting. Its 114,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism in providing a range of sophisticated services centered on our core competencies of auditing, accounting, tax, and transactions. Further information about Ernst & Young and its approach to a variety of business issues can be found at www.ey.com/perspectives. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, a U.K. company limited by guarantee, each of which is a separate legal entity. Ernst & Young Global Limited does not provide services to clients. Ernst & Young LLP is a U.S. client-serving member firm of Ernst & Young Global Limited.
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