TextNow Named One of North America’s Fastest Growing Companies by Deloitte’s 2016 Technology Fast 500
Waterloo, ON – November 16, 2016 — TextNow, the company disrupting the traditional wireless carrier model, announced today that it has made the Deloitte’s Technology Fast 500 , a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. TextNow demonstrated 137% percent growth between 2012 and 2015.
“We’re very proud to be recognized by Deloitte for the accomplishments of the TextNow team. With more than 8 million monthly active users and the kind of year-over-year growth that we’re experiencing, we know that TextNow customers are really benefiting from the flexibility and affordability of our wireless services,” said Derek Ting, Founder and CEO of TextNow. “The momentum and growth that we are experiencing is exciting and we will continue to innovate with new offers for our customers coming soon.”
“Today, when every organization can be a tech company, the most effective businesses not only foster the courage to explore change, but also encourage creativity in using and applying existing assets in new ways, as resourcefully as possible,” said Anders McKenzie, Technology, Media and Telecommunications Managing Partner for Deloitte in Canada “This ingenious approach to innovation calls for the encouragement of curiosity and collaboration both within and outside the office walls.”
About Deloitte’s 2016 Technology Fast 500
Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 or USD, and current-year operating revenues of at least $5 million or USD. Additionally, companies must be in business for a minimum of four years, and be headquartered within North America.
Seeking to build a disruptive approach to the traditional carrier model, TextNow created the world’s first all-IP, cloud-based mobile phone carrier – a commitment free mobile messaging and calling application with more than 8 million monthly active users. Unlike its competitors, TextNow users automatically receive a dedicated phone number when they sign up for the service. TextNow monitors the Wi-Fi and data networks in real time so that if coverage degrades at any point, the call is seamlessly transitioned to the optimal network mid-conversation ensuring superior calling quality on the best network at any given time. In addition, as some Wi-Fi can become unstable over time, TextNow has also optimized the network detection algorithms to connect the call in the correct environment from the onset. Through TextNow Wireless, millions of users benefit from a better and more affordable alternative to traditional wireless plans and services. For more information, please visit www.textnow.com.