Customer relationship management application supplier Siebel Systems has topped the list of fastest growing technology companies in Silicon Valley.
According to the 1999 Silicon Valley Technology Fast 50, which is sponsored by Deloitte & Touche and Joint Venture: Silicon Valley Network, the company also set a new record in revenue growth, with sales rocketing by 782,978 per cent between 1994 and 1998.
Now in its fifth year, the poll lists companies according to the percentage of their revenue growth over the last five years.
Excite came in at number two behind Siebel, showing sales increases of 187,081 per cent to $155 million from $83,000. Rounding out the top five were Netscape Communications, which showed a 64,240 per cent revenue growth, Incyte Pharmaceuticals with 55,378 per cent, and Latitude Communications at 20,538 per cent.
But the average five year revenue growth among the top 10 companies was an astonishing 115,833 per cent, more than ten times higher than the average growth of last year's top 10. Overall, however, organisations experienced revenue growth of 24,307 per cent, more than seven times faster than the 3,319 per cent average growth of last year's Fast 50.
Ruben Barrales, Joint Ventures: Silicon Valley Networks' president and chief executive, said: "It seems that Silicon Valley's legendary fast growing companies are getting exponentially faster."
Some 24 companies were also new to the list this year, although the remainder have been listed at least once before. Two companies, Veritas Software and C-Cube Microsystems, have even made the list for five years running.
Seventeen of this year's Fast 50 companies were from the software sector, including Veritas and Legato Systems, followed by nine from the semiconductor/equipment industry, including Rambus and Tyan Computer.
The biotechnology, Internet, and communications and networking sectors tied in third place with five companies in each category. Some 45 were public companies and five were privately held. But this is the first year that two of the 50 companies are headed by women.
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