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Mimeo.com Announces Record Sales, plus Inc. 500 Honor in 2004

Monday, January 31, 2005

Press release from the issuing company

New York, (January 31, 2005) – Mimeo.com, Inc., the industry-leading on-demand document center for America’s premier corporations, today announced two significant achievements during 2004: completing 14 consecutive quarters of record-breaking growth in corporate revenue and margins during the year; and being named #186 on the Inc. 500 list of fastest-growing private companies. Additionally, to build momentum and push further into the on-demand services market in 2005, Mimeo.com is increasing its direct sales team by 150%, adding 30 new positions during the first half of 2005. “Mimeo.com is yet another example of how the enterprise can use on-demand services to automate a business function,” said Mimeo.com chairman and co-founder Jeff Stewart. “As we’ve seen with the recent success of salesforce.com, there is rising demand for anything delivered on demand. This is certainly a concept whose time has come. Since 1999, a steadily growing base of loyal Mimeo.com customers have been returning time and time again for our on-demand business document services. Our plan is to delight them even more, with additional announcements in the coming months.” Mimeo.com services automate the document life-cycle, from document creation and proofing through print production, document assembly and distribution/delivery. Sold as a pay-as-you-go online service launched via a web browser, customers enjoy high-quality business communications, markedly improved workflows, and rapid turnaround times. Mimeo.com’s services are enterprise-friendly, allowing the business to set, manage and monitor usage both for individual employees and work teams and organizational units. 2004 Milestones Mimeo.com has sustained its record revenue growth by consistently increasing both the number of corporate accounts — up 40% — and the average revenue from each account — up nearly 10% — during the year. Currently, Mimeo.com’s customer roster of more than 800 enterprise accounts reads like a Who’s Who of the business elite and includes: Blackboard, Charter One Financial, CitiGroup, Hewlett-Packard, jetBlue, Perot Systems, Pfizer, Siemens Medical, and TD Waterhouse. Furthermore, Mimeo.com’s strong and growing operating margins, which increased by 23% year over year during the fourth quarter, help fund the investments required to increase the company’s leadership in the on-demand document services market. “Mimeo.com continues its pattern of relentless growth, particularly among large enterprise accounts,” said John Delbridge, CEO of Mimeo.com. “The Company has tremendous potential to expand its lead in the large and growing market for on- demand document services among businesses of all sizes.” Inc.magazineranks privately held companies according to averaged year-over-year sales growth over the past four years. Mimeo.com’s ranking of #186 on the 2004 Inc. 500 list is a testament to the rapid adoption of Mimeo’s unique, web-based document services, which enable hundreds of businesses to manage their document processes on demand —  all from a web browser on a user’s desktop. New Sales Positions An immediate area of focus for the company is the hiring of 35 new employees, 30 of whom are sales associates. The expanded sales team will accelerate penetration into several markets where Mimeo.com customers are currently clustered, including Training, Sales, Marketing, and Meeting Planning, in industries that range from Financial Services and Healthcare to Technology and Retail. Initial response to the posting of these positions has been extremely strong, due to the highly competitive compensation packages in conjunction with the strength of the Mimeo.com model. “There couldn’t be a better time to join our sales force,” continued John Delbridge. “We’re launching innovative services, we’ve fortified our technology enabled production platform, and we’re investing heavily in marketing and sales tools. With our track record of hiring superior talent, we know our new sales additions will bring unprecedented revenue growth to the company.”

 

 

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