Chicago: February 3, 2011: SingleHop Inc., a leading Chicago-based provider of dedicated servers, cloud servers and complex web hosting solutions, today announced its performance for the 2010 calendar year. SingleHop's continued focus on advanced automation technologies allowed the internet infrastructure provider to outpace all performance projections set by management for the year.
SingleHop's 2010 highlights and milestones include:
- 112% growth in annualized recurring revenue, from $8 million in 2009 to over $17 million
- 40% EBITDA margins, a 92% improvement from 2009
- A total of 6,000 servers provisioned
- Over 50% of servers using management services
- Ranked as #58th fastest growing company in Inc. Magazine's Inc. 500
"During 2010, we continued to enjoy the benefits of our significant investments in automation technologies. These technologies allow us to expand our operations while gaining economies of scale, as illustrated by our significant growth in revenue and EBITDA in 2010," said SingleHop CEO Zachary Boca. "We are confident that these investments will continue to help us build one of the most technologically advanced and financially solid firms in our industry for many years to come."
In recognition of its rapid growth, SingleHop was chosen by Inc. Magazine for inclusion in the Inc. 500, annual list of America's fastest growing private companies. SingleHop was ranked #58 overall, and identified as the fastest growing IT firm in the Chicago area, the fastest growing web hosting company in the country, and third fastest growing provider of IT services in the United States.
2010 marked a number of new products and services released by SingleHop:
- The release of LEAP 2.0, which enhanced the user experience and streamlined many processes.
- A $7 million expansion in SingleHop's Elk Grove Village data center.
- The launch of the LEAP API, a programming interface that allows customers to build their own applications to interface with their hosting solution at SingleHop.
- The release of LEAP iPad, a customized version of the LEAP system, released to coincide with the launch of the Apple iPad and the first iPad application in the hosting industry.
- Exclusive partnership to offer Ksplice during Q1 2010. Ksplice is a powerful tool designed to eliminate the downtime generally required to keep servers secure and up to date. Ksplice works by live-swapping the kernel in most Linux operating systems.
- The launch of SingleHop's partnership with backup software provider R1Soft. SingleHop was the first provider to offer pay for usage model with free R1Soft licensing.
- The launch of the Tandem reseller program, which is designed to allow resellers of SingleHop's services to leverage all of SingleHop's resources as their own. This quickly established new resellers and offered them a key edge in the marketplace. SingleHop also announced the availability of Tandem Panel in 15 languages.
During 2010, SingleHop invested heavily in upgrading and maintaining its network and equipment, which established them as a clear leader in their industry. SingleHop earned key recognition from the analysis site Netcraft, who noted SingleHop as having one of the most robust and stable networks among all the major hosting players around the globe.
SingleHop also contributed to the tech community by providing financial support for several hosting industry and technology events, including Chicago's Tech Cocktail, Startup Mixology and the midVentures LAUNCH startup competitions. In addition, SingleHop continued its community involvement, contributing time, money, and hardware to several organizations in Chicago and around the world.
During 2010, SingleHop made the following charitable contributions :
- $10,000 cash donation to earthquake relief efforts in Haiti
- Christmas gifts for three dozen children whose families are living in the Casa Central shelter in Chicago
- A donation of over 100 servers to the Latino Technology Alliance, an education and technology non-profit in Chicago
- A donation of 24 new computers to the National Teachers Academy, a public school in a low-income neighborhood on Chicago's south side
- A significant donation to Worldvision to support the construction of a home for orphans in Zambia
Additionally, SingleHop Co-Founder & CEO Zachary Boca was named to Crain Magazine's 2010 40 Under 40, a prestigious and highly coveted ranking of Chicago's most promising and influential business, academic, and artistic leaders.
"The past year was the most successful and rewarding in SingleHop's history, but we feel we're just getting started," said co-founder and Chief Marketing Officer Dan Ushman."With the launch of Cascade, our new cloud hosting solution, we expect even more from 2011 in products, accomplishments, and growth."
About SingleHop, Inc.
SingleHop, Inc., is a full-service hosting provider based in Chicago. The company was founded by Zak Boca and Dan Ushman in 2006 and hosts websites and mission critical applications for customers in more than 100 countries.
For more information please visit: www.SingleHop.com
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