IKANO COMMUNICATIONS NAMED UTAH'S SIXTH FASTEST GROWING COMPANY
IN UTAH 100 AWARDS PROGRAM -
IKANO Achieves Five-Year Revenue Growth Rate of 6,035%
Date: October 17th, 2002
Release: IMMEDIATE
SALT LAKE CITY, UT - The Mountain West Venture Group today named IKANO Communications the sixth fastest growing company in the state of Utah as part of its annual Utah 100 Awards program. The Mountain West Venture Group of Utah recognizes the top 100 companies who demonstrate exceptional percentage revenue growth over a five-year period.
During the past five years, IKANO has experienced a revenue growth rate of 6,035%. A three-time Utah 100 winner, IKANO attributes its tremendous growth to a solid business model, outstanding employees, a forward-thinking management team, and products that stay ahead of the technology curve.
IKANO's growth can also be attributed to its commitment to developing technologically superior products and services. In February 2002, IKANO delivered a gold-medal performance as the Official Data Networking Services Supplier for the 2002 Olympic and Paralympic Winter Games. IKANO handled the Olympic network design, installation, management and support for the Games. Following the Olympic Games, the Salt Lake Organizing Committee (SLOC) presented IKANO with the "Order of Excellence" award for its outstanding performance as the Official Data Networking Services Supplier.
In May 2002, IKANO's customer support center was named "Call Center of the Year" by Call Center Magazine. In addition, The Initiative for a Competitive Inner City (ICIC) and Inc Magazine ranked IKANO one of the 2002 "Inner City 100," a listing of the fastest growing companies located in America's inner cities.
In August 2002, IKANO purchased one of the nation's largest for-pay public Wi-Fi networks from hereUare Communications. IKANO now owns 149 "HOTSPOTZZ" wireless-enabled locations in national and regional retail chains, hotels, business centers, and independent cafes and restaurants. This technology enables companies to offer their customers wireless access, as well as integrates user authentication, authorization, and accounting controls in a public, global, for-pay wireless network.
IKANO has received a total of $33.5 million in venture capital funding, with its third round of financing ($15 million) announced in June, 2001.
"IKANO is one of very few tech companies that is thriving, despite the slowing economy," says Henry Smith, IKANO President and CEO. "We are growing the business by continually developing strategic partnerships with new clients and value-added resellers."
The Utah 100 was first conceived by MountainWest Venture Group in 1995 as Utah's only business growth recognition program. This premier award identifies and recognizes Utah's top 100 fastest growing companies and top 25 revenue growth companies each year.
The top 100 fastest growing companies in Utah were selected from more than 11,000 applicants throughout the state. They represent a cross-section of almost all industries in Utah, including information technologies, bio-medical and bio-technology, health care, retail, construction, and financial services.
About Mountain West Venture Group
Founded in 1983, Mountain West Venture Group is a non-profit organization that fosters business growth and capital development in Utah. The group encourages the participation of individuals and organizations interested in the establishment, funding and operation of successful business ventures. Based in Salt Lake City, the group is comprised of a broad mix of entrepreneurs, investors, venture capital providers, attorneys, bankers, accountants, consultants and educators. Visit
www.mwvg.org.
About IKANO Communications, Inc.
IKANO Communications was founded over 10 years ago as a regional Internet service provider in the Intermountain West and since then has flourished to become the industry leader in private-label, wholesale, and retail Internet services. IKANO leverages its ISP platform to provide outstanding services at highly competitive prices. The company's rapid growth and excellence in the field have resulted in IKANO's ranking in the
Inc. 500,
Technology Fast 500,
Inner City 100,
Utah 100, and
Call Center of the Year.
Companies interested in learning more about IKANO should contact
info@ikano.com, or call
877.492.0121.
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