Boingo Named Fastest Growing Tech Company in Los Angeles – Among Top Ten in North America – for Second Straight Year
Deloitte’s “Rising Star” Competition Recognizes Boingo’s Meteoric Revenue Growth
SANTA MONICA, Calif. – October 24th, 2006 –
Boingo Wireless Inc., the world’s leading wholesale network aggregator and operator of neutral-host Wi-Fi networks, today announced it was named a “Rising Star” by Deloitte and recognized as the fastest growing technology company in Los Angeles and the seventh fastest growing company in North America among companies that have been in business for four years or less.
Boingo achieved revenue growth of 1,460% over the three years assessed in the competition (2003-2005). This marks the second straight year Boingo was named Los Angeles’ top performer and was ranked in the top ten for North America.
The “Rising Star” awards are held in conjunction with Deloitte’s 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. The Rising Star list ranks the top 25 technology companies that have been in business three or four years based on percentage revenue growth over the years 2003 to 2005. Rising Stars are assigned both locally, as part of the Fast 50 rankings, and for North America, as part of the Fast 500.
“To have reached top ten Rising Star rankings – and number one in Los Angeles – for two straight years is an incredible achievement and really points to Boingo’s smart management, technology expertise and vision for embracing the potential of its market,” said Tony Kern, deputy managing principal of Deloitte’s Technology, Media & Telecommunications industry practice.
“The revenue growth that won these honors for Boingo shows the depth of the demand for wireless services, a demand that will only accelerate as more cellular phones and other mobile devices begin to tap into Wi-Fi services,” said David Hagan, president and CEO of Boingo. “I’m proud of the entire Boingo team, whose dedication and execution have helped us to realize our vision of a worldwide wireless network for business travelers.”
Rising Star Qualifications
To qualify as a Fast 500 Rising Star, entrants must have had 2003 operating revenues of at least $50,000 USD or $75,000 CD, for the United States and Canada, respectively, and 2005 operating revenues of at least $5 million USD or CD. Entrants must be headquartered in North America, 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.
60,801 Reasons to Use Boingo
Boingo gives business travelers the best choice of Wi-Fi hotspots by combining over 60,000 locations from more than 140 leading Wi-Fi operators into one worldwide network. Boingo users can connect to any of these locations with a single Boingo account using Boingo's free Wi-Fi client software, which combines more than 660 network names into one "Boingo Wireless®" network to simplify identifying and connecting to commercial Wi-Fi networks.
The program provides partners with access to this network, customized client software, and a full suite of back-office billing, roaming, mediation and clearinghouse services to allow them to offer their own Wi-Fi service quickly and cost effectively. To date, the company has announced Platform Services partnerships with BT Infonet, EarthLink, Fiberlink, Helio LLC, Nextel Communications, Verizon Business, and Telecom Italia.
About Boingo Wireless
Boingo Wireless, Inc. provides global Wi-Fi Internet access through the Boingo® Roaming System, which comprises 60,000 hotspots in airports, hotels, cafes and other public places, including metropolitan hot zones. Business travelers can use a single Boingo account to log in at Wi-Fi networks around the world using one username and password. Boingo Roaming System services can also be private labeled by telcos, wireless operators, Internet service providers (ISP) and managed service providers (MSP) as part of their own branded services for laptops, handsets and mobile devices. Through its Concourse Communications Group LLC subsidiary, Boingo operates neutral host wireless access systems that provide wireless voice and data services supporting public and commercial interests. More information about Boingo and Concourse is available at http://www.boingo.com and http://www.concoursecommunications.com.
Boingo, Boingo Wireless, and the Boingo Wireless Logo are registered trademarks of Boingo Wireless, Inc.
Information in the company’s press releases is valid on the date noted. This information is historical and provided for archival purposes.