IKANO Ranks Second in ICIC - Inc Magazine "Inner City 100"
Date: April 6, 2004
Release: IMMEDIATE
Boston, Massachusetts - Utah-based Company Gains Top Ranking in National List Charting Fastest Growth
The results are in and it's official. Salt Lake City-based IKANO Communications is the nation?s second fastest growing company located in an inner city area. The Inner City 100 is a ranking of 100 of the fastest-growing businesses in inner city areas around the country by the Initiative for a Competitive Inner City (ICIC) and Inc Magazine. IKANO was one of only two Utah companies recognized in the Inner City 100, based on 7,000 companies nominated from 155 cities.
With an explosive five-year growth rate of 3,120 percent, IKANO achieved the highest Inner City 100 ranking from a Utah company in the history of the program. The average annual growth rate for 2004 Inner City 100 companies was an astounding 872 percent for the five-year period 1998-2002, up from last year's rate of 647 percent. A three-time Inner City 100 winner, IKANO attributes its success to unwavering customer loyalty, dedicated employees and continued growth within the current customer channel.
IKANO is the world's largest provider of private-label Internet services, helping Internet Service Providers lower operating costs, increase revenue and expand their geographic reach/product offering. IKANO also provides private-label Internet services to businesses and affinity organizations wishing to leverage the Internet to better communicate with customers, employees, or members.
"We are thrilled to be a part of this remarkable group of companies revitalizing the economies of our inner cities" said Henry Smith, IKANO president and CEO. This is an award for IKANO employees. We are in a service business and at the end of the day, it?s our devoted employees and loyal clients that make the company.
IKANO also attributes its growth to the development and expansion of its wholesale ISP group. Since the creation of its wholesale group in 2002, IKANO has added more than 350 new wholesale ISP customers.
A cornerstone of IKANO's success was its performance as the Official Data Services Supplier for the 2002 Winter Olympic Games. In this critical role previously handled by IBM, every piece of data, large and small, passed through one of the world's most complex networks without a single interruption. IKANO received the "Order of Excellence" award for its gold-medal performance in the 2002 Games.
In late 2002, IKANO launched
HOTSPOTZZ, one of the nation's largest for-pay public Wi-Fi networks. HOTSPOTZZ teamed with Intel Corporation in early 2003 to drive awareness of Wi-Fi (802.11) hot spots - areas where notebook users can connect to the Internet and corporate networks wirelessly.
IKANO has received a total of $33.5 million in venture capital funding. During the past five years, the company expanded from 50 employees to more than 350 employees, creating a multitude of employment opportunities in Salt Lake City and its satellite office locations in Logan, Ohio and Toronto, Ontario. IKANO ranked 40th in the 2003 Inc 500 listing of the nation's fastest growing companies.
The Inner City 100 is the brainchild of Harvard Business School professor and ICIC founder Michael E. Porter, who wanted to focus public attention on the instrumental role that entrepreneurial companies play in rebuilding the economies of inner cities.
The Inner City 100 rankings are based on revenue growth of nominated companies that have at least 51 percent of their operations in economically distressed urban areas. A joint venture between Inc. Magazine and the Initiative for a Competitive Inner City, the Inner City 100 recognizes growing
companies located inside cities and focuses public attention on the role those companies play in creating jobs and rebuilding the economies of America's inner cities. The Inner City 100 companies are profiled in Inc's May issue.
About IKANO Communications, Inc.
IKANO Communications was founded over 10 years ago as a regional Internet service provider in the Intermountain West and since then has flourished to become the industry leader in private-label, wholesale, and retail Internet services. IKANO leverages its ISP platform to provide outstanding services at highly competitive prices. The company's rapid growth and excellence in the field have resulted in IKANO's ranking in the
Inc. 500,
Technology Fast 500,
Inner City 100,
Utah 100, and
Call Center of the Year.
Companies interested in learning more about IKANO should contact
info@ikano.com, or call
877.492.0121.
About Initiative for a Competitive Inner City
The Initiative for a Competitive Inner City (ICIC) is a national, non-partisan, not-for-profit organization founded in 1994 by Harvard Business School Professor Michael E. Porter, following several years of pioneering research on inner-city business and economic development. With affiliates in three cities and significant on-the-ground activities in many others, ICIC has rapidly established itself as a national force in inner-city economic development. By identifying the competitive potential of inner cities; strategic location, local market demand, growth opportunities via integration with the regional economy and availability of labor, ICIC aims to build the business case for doing business in America?s inner cities. ICIC?s mission is to spark new thinking about the business potential of inner cities, thereby creating jobs and wealth for inner-city residents. For more information, please visit our web site at
www.icic.org.
About Inc
Inc is the leading magazine written for the men and women who own and manage small-to-midsized, fast-growing companies. Published 12 times a year, Inc helps its 1.5 million readers by providing expert advice and practical solutions as they face the opportunities, pitfalls, and rewards of growing a company. Inc.com
(www.inc.com), the Web site for growing companies, was named Best Online Magazine by Folio and Best Overall New Publication (all media) by the Computer Press Association
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