RISMEDIA, Oct. 19, 2007-RealtyTrac(TM), an online marketplace for foreclosure properties, has been named to Deloitte’s prestigious Technology Fast 50 Program for Orange County, a ranking of the fastest-growing technology companies in the area. Based in Irvine, RealtyTrac ranked No. 4 in Deloitte’s 2007 Orange County Technology Fast 50 list with a revenue growth rate of 1,629% over five years (2002-2006).
“We are truly honored to once again be selected by Deloitte & Touche for this prestigious award,” said James J. Saccacio, chief executive officer of RealtyTrac. “This marks the second consecutive year that Deloitte has selected RealtyTrac to the Orange County Technology Fast 50 list, which is a great honor.
“Our employees deserve credit for such phenomenal growth. We commend our employees for their hard work and dedication to servicing the needs of our customers. We also wish to recognize our customers — real estate investors, home buyers and real estate professionals. We’re pleased that RealtyTrac has provided these customers with the 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 2002 and $5,000,000 in 2006, 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.
“Sustaining high revenue growth over five years is an exceptional accomplishment,” said Rick Rayson, managing partner, Deloitte & Touche LLP in Orange County. “We commend RealtyTrac for making the commitment to technology and delivering on the promise of market longevity. We are proud to honor RealtyTrac to Deloitte’s Technology Fast 50.”
RealtyTrac, along with other finalists from the 16 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.
“When our current management team took control of the business back in 2001 — when foreclosure activity was at an historic low — we made a decision to devote substantial amounts of capital and manpower into developing technology that would conveniently deliver the most comprehensive and accurate foreclosure data nationwide,” Saccacio said.
“That decision has paid off, allowing us to develop a loyal and growing customer base and positioning RealtyTrac as the go-to source for foreclosure data — a commodity that is becoming increasingly sought after in today’s real estate market.”
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