IKANO Ranked Fifth Fastest Growing Company in Utah 100 Awards Program - IKANO Achieves Five-Year Revenue Growth Rate of 3,120%
Date: October 29th, 2003
Release: IMMEDIATE
SALT LAKE CITY – The Mountain West Venture Group ranked IKANO Communications the fifth 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.
IKANO experienced an explosive five-year revenue growth rate of 3,120%. A four-time Utah 100 winner, IKANO attributes its success to solid customer loyalty resulting from continued growth within the current customer channel. IKANO significantly increased partner penetration into end-user markets through several new product introductions.
Another key component to IKANO’s growth is increased sales and recurring revenue. IKANO has added more than 275 new ISP customers in the past year through its wholesale and VISP channels.
IKANO has received a total of $33.5 million in venture capital funding. During the past five years, the company expanded from 50 employees to more than 350 employees. In October 2003, IKANO was ranked 40th in the Inc. 500 list of the country’s fastest growing private companies. In April 2003, the Initiative for a Competitive Inner City (ICIC) and Inc. Magazine ranked IKANO Communications third in the “Inner City 100,” a listing of the fastest growing companies located in America’s inner cities.
In 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.
“IKANO is one of very few Utah tech companies that is thriving, despite current economic conditions,” says Henry Smith, IKANO President and CEO. “We are steadily growing the business through strategic partnerships, new product development, and by helping our existing customers succeed.”
The Utah 100 was first conceived by Mountain West 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 10,000 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 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.
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.
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