Fastest Growing Technology Companies
Leading automotive e-business provider recognized by
Deloitte & Touche Technology Fast 500 for Third Consecutive Year
SEATTLE (November 25, 2002) – The Cobalt Group today announced that it has been recognized for the third consecutive year as part of the Deloitte & Touche Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America over the past five years. Cobalt, the leading provider of e-business software and services to the automotive retail market, ranked 160 out of the top 500 technology companies in the U.S. and Canada by posting a growth rate of 2,846%, building its revenues from $1.7 million in 1997 to $50.4 million in 2001.
In addition to ranking on the Deloitte & Touche Technology Fast 500, Cobalt ranked tenth on the Washington Technology Fast 50, a ranking of the 50 fastest growing technology firms in Washington state.
The Cobalt Group’s CEO, John Holt, credits the company’s success on its ability to deliver powerful solutions for the nation’s largest network of dealer clients, 17 automotive manufacturers, and the National Automobile Dealers Association (NADA). “Cobalt has developed a diverse line of products and services powered by innovative technology and unparalleled customer service,” he said. “Time and again we have been able to help our clients use Cobalt technology and expertise to grow their business.”
Since its founding in Seattle in 1995, Cobalt has grown to become the leading e-business solutions provider to the automotive retail market. Serving 12,000 dealers, Cobalt has built the one of the largest dealer networks in the industry and is the only e-business technology provider to gain the endorsement of 17 automotive manufacturers and the National Automobile Dealers Association.
“Because Deloitte & Touche Technology Fast 500 measures sustained revenue growth over five years, being one of the 500 fastest growing technology companies in North America is an impressive accomplishment,” said Mark A. Evans, managing director of Deloitte & Touche’s Technology, Media & Telecommunications Group. “We are proud to honor Cobalt as a Deloitte & Touche Technology Fast 500 winner.”
The Fast 500 list is complied from three sources: Deloitte & Touche’s 20 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, companies must have had 1997 operating revenues of at least $50,000 USD and $75,000 CD, for United States and Canada respectively, must be public or private companies headquartered in North America, and be “technology companies” defined as companies that own proprietary technology that contributes to a significant portion of the company’s operating revenues or devote a high percentage of effort to research and development technology.
About The Cobalt Group
Cobalt offers a broad range of products and services developed specifically for the automotive marketplace including enterprise software for manufacturers and dealers; customer relationship management (CRM) software applications; online automotive commerce applications; the industry’s largest OEM parts locating and marketing service; and dealership e-business best practices training, consulting, and process compliance analysis.
Cobalt operates a dealer network larger than any other technology provider in the automotive retail industry including 12,000 franchised dealers and more than 70 of the 100 largest dealer groups. Cobalt is the only software technology provider ever endorsed by 17 manufacturers and the National Automobile Dealers Association (NADA).
With headquarters in Seattle, Wash., Cobalt has offices in several major U.S. cities, and a field sales and services force in 30 states, including all major U.S. metropolitan sales areas (MSAs).
For more information, please visit www.cobaltgroup.com or call 800-909-8244.
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