CLEVELAND, OH--(Marketwire - Nov 14, 2012) - OverDrive today announced it ranked 221 on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. The digital distributor, which supplies eBooks, audiobooks and other digital media to more than 19,000 libraries and schools worldwide, grew 382 percent from 2007 to 2011. (View complete rankings.)
OverDrive CEO Steve Potash attributes the company's growth to the rising popularity of eBooks at libraries and schools around the world, and expects a spike in demand over the holidays to continue through 2013. "While we are proud of our growth, we're also energized by the thousands of libraries and schools in our network who connect readers with books and authors," said Potash. "We're working with them to roll out our Next Generation platform to help prepare for a significant increase in visitors looking to borrow eBooks and other digital media from the library."
OverDrive's inclusion on the 2012 Technology Fast 500™ comes as the company prepares to launch its Next Generation platform (see YouTube preview), which will streamline the digital library experience for millions of users around the world with One-Step Checkout™ and the new, instant access, browser-based, eBook-reading technology OverDrive Read. The Cleveland-based digital distributor offers a catalog of more than 800,000 titles with support for all major computers and devices, including iPhone®, iPad®, Nook®, Android™ phones and tablets, and Kindle® (U.S. only). To find a library near you, visit http://search.overdrive.com.
Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader, congratulated the winners. "We are proud to honor the 2012 Technology Fast 500™ companies, and commend them for their outstanding growth," he said. "These ground-breaking companies have outpaced their competition and are reinventing the way we do business today."
About Deloitte's 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies -- both public and private -- in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
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 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
OverDrive is a leading multichannel digital distributor of eBooks, digital audiobooks, music and video. We supply a secure lending platform for 19,000 libraries, schools and retailers worldwide with support for all major computers and devices, including iPhone®, iPad®, Nook®, Android™ phones and tablets, and Kindle® (U.S. only). OverDrive has been named to the EContent 100 as a company that matters most in the digital content industry. Founded in 1986, OverDrive is based in Cleveland. www.overdrive.com