Waterloo, ON – November 9, 2017 — TextNow, the company disrupting the traditional mobile phone carrier model, was recognized with a Deloitte Technology Fast 50 award today for its rapid revenue growth, bold innovation and entrepreneurial spirit. The Fast 50 program honours 50 Canadian technology companies with the highest revenue-growth percentage over the past four years. TextNow ranked #50 with a 382.9 percent in revenue growth from 2013 to 2016.
The Deloitte Technology Fast 50 program winners are made up of public and private companies in the technology sector that share common traits and strengths and have transformed the industry. Celebrating its 20th anniversary this year, the program augments the broader Deloitte North American Technology Fast 500™ initiative with winners automatically eligible for this elite ranking.
TextNow’s CEO and Co-Founder Derek Ting, credits the combination of continued product research and development, along with superior talent and a vibrant workplace culture as key differentiators fueling the company’s explosive growth. “We are excited to be recognized as a Deloitte Technology Fast 50 company. As a company, we continue to fire on all cylinders from rapid user growth, to strong financial performance, to building an environment that attracts the best and brightest talent.”
“New technologies have disrupted various industries in ways that were unimaginable a few years ago,” said Erica Pretorius, Partner and National Leader for the Technology Fast 50™ program at Deloitte Canada. “Fast 50 winners have led the way and I can’t wait to see where they take us next.”
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.
About the Deloitte Technology Fast 50™ – The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features three distinct categories including the Technology Fast 50 Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies with the potential to be a future Deloitte Technology Fast 50 candidate) and the Leadership Awards (companies that demonstrate technological leadership and innovation within the industry.) Program sponsors include Deloitte, Aequitas NEO Exchange, Bank of Montreal, Bennett Jones, CBRE, OMERS Ventures and Wellington Financial. For further information, visit www.fast50.ca.
About TextNow – TextNow is making mobile phone service ultra-affordable through its unique, cloud-based technology. Through TextNow Wireless, the TextNow SIM Card, and the free TextNow app, the company provides millions of users a better and more affordable alternative to traditional wireless plans and services. For more information, please visit www.textnow.com.