NEW YORK, NY - September 30, 2003 - LivePerson, Inc. (NASDAQ: LPSN), a provider of technology facilitating real-time online customer interaction, has been named to the prestigious Technology Fast 50 Program for New York, a list of the 50 fastest growing technology companies in the New York area compiled by Deloitte & Touche LLP, one of the nation's leading professional services firms.
LivePerson's increase in annual revenue of 2,073 percent from 1998 to 2002 resulted in a #5 ranking overall in the Fast 50 for New York. The average increase in revenues among companies who made the Fast 50 for this region was 1,312 percent.
"To succeed during prosperous times is one thing; to succeed during a period of adversity is much more challenging, and that's exactly what the Deloitte & Touche Technology Fast 50 winners have done," said Larry Wizel, Partner in the Technology, Media, and Telecommunications practice of Deloitte & Touche and Chair of the New York Technology Fast 50. "We applaud LivePerson for its tremendous accomplishment during economically challenging times and for being one of the elite Fast 50 companies in New York."
LivePerson's CEO, Robert LoCascio, credits the accelerating acceptance of chat as a real-time sales and service tool for the company's 2,073 percent revenue growth from 1998-2002. He said, "LivePerson is honored to be recognized as one of Deloitte & Touche's 50 fastest growing technology companies and is proud to be a part of this elite group. This distinction acknowledges our strong revenue growth and our continued dedication to helping over 3,000 businesses engage their customers online to increase sales and customer satisfaction."
Deloitte & Touche announced the rankings at an awards dinner for the winners on Thursday, September 25, 2003, at the Ritz-Carlton New York, Battery Park. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1998-2002.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1998 and $1,000,000 in 2002, must be public or private companies headquartered in North America, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.
Winners of the 20 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www.fast500.com.
This year's New York Technology Fast 50 is supported by Platinum Sponsors: Bank of New York, Geller & Company, Marsh Financial Services, NASDAQ, and Proskauer Rose; Gold Sponsors: the Journal News; and Silver Sponsors: Polytechnic University the NYU Center for Advanced Technology.
LivePerson (www.liveperson.com) is an Application Service Provider (ASP) of technology facilitating real-time sales, customer service and marketing solutions for companies doing business on the Internet. The LivePerson service enables online businesses to communicate with Internet users in real time, thereby enhancing the online experience. LivePerson allows clients to increase revenue and productivity while decreasing the overall cost of customer support. The company serves EarthLink, QVC, eBay, Ameritrade, American Airlines Credit Union and over 3,000 other clients. LivePerson is headquartered in New York City, with R&D facilities in Tel Aviv, Israel.
About Deloitte & Touche Technology, Media & Telecommunications (TMT) Group
The TMT Group is composed of service professionals who have a wealth of experience serving technology, media and telecommunications companies throughout the world in areas including cable, communications providers, computers and peripherals, entertainment, media and publishing, networking, semiconductors, software, wireless, and related industries. These specialists understand the challenges that these companies face throughout all stages of their business growth cycle and are committed to helping them succeed. Deloitte & Touche is a leader in providing strategic, financial and operational assistance to its technology, media and telecommunications clients.
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