Elastic Path Software Named One of Canada's Fastest-Growing Companies
Vancouver company grows revenue 2200% since 2002
Vancouver, BC, Canada, June 2, 2008 -- Elastic Path Software, the pioneer of flexible ecommerce software, has been included in the 20th annual PROFIT 100 ranking of Canada's Fastest-Growing Companies by PROFIT Magazine.
In its report, PROFIT noted that Elastic Path grew revenue 2210% since 2002, well above the average PROFIT 100 growth rate and placing the company at #23 in the PROFIT 100 ranking.
Ranking Canada's Fastest-Growing Companies by five-year revenue growth, the PROFIT 100 profiles the country's most successful growth companies. Published in the June issue of PROFIT and online at PROFIT100.com, the PROFIT 100 is Canada's largest annual celebration of entrepreneurial achievement.
This recognition is the latest in a series of similar honours for Elastic Path. The company was also included in Canadian Business's 2005 "Hot 50" list and in Vancouver-based Rocket Builders' "Ready to Rocket" list as one of BC's fastest growing private technology companies in both 2007 and 2008. Elastic Path roughly doubled both revenue and staff in the most recent year as it won many new and larger customers. The company is expected to extend this growth with the recent release of Elastic Path Commerce 6, its latest ecommerce platform that enables online retailers to run multiple tailored stores to serve specific markets easily and cost-effectively.
"We're thrilled to be recognized as one of Canada's Fastest Growing Companies," says Harry Chemko, Elastic Path co-founder and CEO. "2007 was extremely exciting as we completed a number of larger and more complex projects, and with the new and larger customers seeking our latest release, we're confident 2008 will be even better."
"The PROFIT 100 are role models for anyone who wants to expand their business domestically or internationally," says Ian Portsmouth, editor of PROFIT. "All entrepreneurs can take great lessons from the product development, human resources and marketing practices of Canada's Fastest-Growing Companies."
About PROFIT Magazine
PROFIT: Your Guide to Business Success, is Canada's preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For more than 25 years, Canadian entrepreneurs across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them increase their revenues, boost their profitability and get the recognition they deserve for generating positive economic and social change. Published six times a year by Rogers Publishing Ltd., PROFIT is distributed almost exclusively to the chief executives of companies with 5 - 250 employees and annual revenue of $1 million to $25 million, reaching more than 300,000 readers across Canada. Visit PROFIT online at www.canadianbusiness.com.
About Elastic Path Software
Elastic Path Software provides a flexible ecommerce platform that gives enterprises the capabilities and control to deliver innovation in a complex environment. The Java-based platform enables integration with SOA environments and rapid development of custom features. Enterprises can now quickly adapt ecommerce tactics to gain a competitive advantage. Companies such as Aeroplan, Time Inc, and Samsonite use Elastic Path for maximum control over their evolving online stores. For more information, please visit https://www.elasticpath.com.