Riverbed Technology Named Rising Star in Deloitte's Technology Fast 50 Program for Silicon Valley
San Francisco, CA — October 31, 2007 — Riverbed Technology, Inc. (Nasdaq: RVBD), the technology and market leader in wide-area data services (WDS), has been ranked 4th in the Rising Star category of the 2007 Deloitte & Touche USA LLP's Technology Fast 50 program for Silicon Valley. Rankings for the Fast 50 Rising Star program are based on percentage revenue growth over three years (2004–2006). Riverbed® was ranked number four based on its 3,421 percent revenue growth during this time, as compared to an average revenue growth percentage of 1,885 for Fast 50 Rising Star winners.
The Rising Star award is a special designation for fast-growth companies that have been in business a minimum of three years but less than five, and is part of the Silicon Valley Technology Fast 50 program, which ranks the 50 fastest growing technology, media, telecommunications, and life sciences companies headquartered in Silicon Valley. This year's Silicon Valley Technology Fast 50 program
is co-presented by Deloitte & Touche USA LLP and Silicon Valley Bank, Cooley Godward Kronish LLP, Korn/Ferry International, and Woodruff-Sawyer
& Co.
Riverbed's Steelhead® products help companies run applications across corporate networks—from headquarters to the branch office to remote workers, wherever they may be—up to 100 times faster, making Riverbed a key driver of the shrinking, faster, more connected corporate world. WDS solutions allow organizations to consolidate IT infrastructure, enable higher productivity for remote offices, decrease frustration for end users, dramatically shorten backup and replication time and reduce WAN traffic.
Today, more than 3,000 organizations worldwide have selected Riverbed and deployed the company's Steelhead products at sites ranging from oil rigs in the South China Seas and submarines in the Atlantic to remote offices and headquarters sites in Vladivostok, Osaka, London, and New York City.
"The Deloitte Silicon Valley Technology Fast 50 Rising Star companies have shown the strength, vision and tenacity to succeed despite a very challenging technology environment," said Mark Jensen, partner and national director, Venture Capital Services, Deloitte & Touche LLP. "We applaud the successes of Riverbed Technology and acknowledge its place as one of the few to accomplish such a fast growth rate over the past three years."
"We are honored to be recognized by Deloitte for our strong performance," said Jerry Kennelly, co-founder and CEO, Riverbed Technology. "From 2004 through 2006, we experienced revenue growth of 3,421%, and ours was the most successful IPO of any company in 2006. Our success is a reflection of the tremendous value that our industry-leading technology delivers to our customers and the WDS market opportunity that is in front of us."
To qualify for the Technology Fast 50 Rising Star program, companies must be incorporated a minimum of three years and have revenues in only three or four years, have operating revenues of at least $50,000 in 2004 and $5,000,000 in 2006, be headquartered within the San Francisco Bay Area (subsidiaries or divisions are not eligible, unless they have some public ownership and are separately traded), and own proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues or devote 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.
Rising Star companies are automatically entered in Deloitte's Technology Fast 500 Rising Star category. Deloitte's Technology Fast 500 program ranks North America's top 500 fastest growing technology, media, telecommunications, and life sciences companies based on percentage revenue growth over five years (2002–2006). Its Rising Star ranking is based on percentage revenue growth over three years (2004–2006). For more information on Deloitte's Technology Fast 500 or Technology Fast 50 programs, visit www.fast500.com.
About Riverbed
Riverbed is the technology and market leader in wide-area data services (WDS) solutions for companies of every size. By enabling application performance over the wide-area network that is orders of magnitude faster than what users experience today, Riverbed is changing the way people work, and enabling a distributed workforce that can work and collaborate as if they were local. More information about Riverbed (Nasdaq: RVBD) is available at www.riverbed.com.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Forward Looking Statements
This press release contains forward-looking statements, including statements relating to the expected demand for Riverbed's products and services and Riverbed's ability to meet the needs of distributed organizations, and statements relating to the WDS market opportunity and Riverbed's revenue growth. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include our ability to react to trends and challenges in our business and the markets in which we operate; our ability to anticipate market needs or develop new or enhanced products to meet those needs; the adoption rate of our products;
our ability to establish and maintain successful relationships with our distribution partners; our ability to compete in our industry; fluctuations in demand, sales cycles and prices for our products and services; shortages or price fluctuations in our supply chain; our ability to protect our intellectual property rights; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact Riverbed's business are set forth in our Form 10-Q filed with the SEC on October 25, 2007.
All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements. Any future product, feature or related specification that may be referenced in this release are for information purposes only and are not commitments to deliver any technology or enhancement. Riverbed reserves the right to modify future product plans at any time.
Riverbed Technology, Riverbed, Steelhead, RiOS, Interceptor, and the Riverbed logo are trademarks or registered trademarks of Riverbed Technology, Inc. All other trademarks used or mentioned herein belong to their respective owners.
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Media Contacts:
Kristalle Ward
Riverbed Technology
(415) 274-8140
kristalle.ward@riverbed.com
Robb Henshaw
Horn Group for Riverbed Technology
(415) 905-4028
rhenshaw@horngroup.com
