Leading Online Real Estate Marketplace Registers 637 Percent Revenue Growth in Five Years
IRVINE, Calif. – Oct. 24, 2008 – RealtyTrac™ (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, has been named to Deloitte’s prestigious Technology Fast 50 Program for Orange County, a ranking of the 50 fastest-growing technology, media and telecommunications companies in the area. Based in Irvine, RealtyTrac ranked 16th in Deloitte’s 2008 Orange County Technology Fast 50 ranking with a revenue growth rate of 637 percent over five years (2003-2007).
“Once again, we are truly honored to be selected by Deloitte & Touche USA LLP for this prestigious award,” said James J. Saccacio, chief executive officer of RealtyTrac. “This marks the third consecutive year that Deloitte has selected RealtyTrac to the Orange County Technology Fast 50 list, which is a great honor.
“We commend our employees for their hard work and dedication to servicing the needs of our customers. Our employees deserve credit for achieving such phenomenal growth. We also wish to recognize our customers — real estate investors, home buyers and real estate professionals. We’re pleased that RealtyTrac has provided these valued customers with the services, property information and research tools they’ve needed to successfully purchase foreclosure properties.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
“RealtyTrac has proven to be one of the fast-growth success stories in Orange County, and we applaud their dedication to making their vision a reality,” said Rob Lucenti, Managing Partner, Orange County Practice, Deloitte & Touche LLP. “To rank on Deloitte’s Technology Fast 50, companies must have phenomenal revenue growth over five years.”
RealtyTrac and companies from the regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte’s Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
“Back in 2001, when our current management team took over control of the business, there were already a number of companies selling foreclosure lists,” recalled Saccacio. “We decided to focus on building the most comprehensive, accurate database of foreclosure properties, and have continually added new features and functional tools — such as interactive map-based searching, birds-eye imagery and online foreclosure auctions — to help our customers be successful. This award validates our approach.”
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. (http://www.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 Santa Barbara in 1996, RealtyTrac has consistently ranked among the three most-visited real estate sites over the past two years, with nearly 3 million unique visitors a month, according to MediaMetrix™. The company has expanded the content on its website beyond foreclosure properties to include for-sale-by-owner, resale and new construction homes as well, increasing the number of properties available for home buyers to over 1 million.
RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider 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.
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
949.502.8300 Ext. 139
949.502.8300 Ext. 268
Detailed & Historical Data:
949.502.8300 Ext. 158