NEW YORK, Nov. 07, 2019 (GLOBE NEWSWIRE) -- Conversion Labs, Inc. (CVLB) (“Conversion Labs” or “Company”), an e-commerce and telemedicine company focused on creating and scaling proprietary health and wellness brands, today announced it ranked #189 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America now in its 25th year.
Conversion Labs previously ranked #164 as a Technology Fast 500™ award winner for 2018. Overall, 2019 Technology Fast 500™ companies achieved revenue growth ranging from 166 percent to 37,458 percent from 2015 to 2018, with median growth of 439 percent. Conversion Labs grew 583% during this period.
“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top ten. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”
“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”
“We’re honored to see Conversion Labs inclusion in Deloitte’s Technology Fast 500™ ranking for the second year in a row,” stated Justin Schreiber, CEO and Chairman of Conversion Labs. “The hyper revenue growth we’ve experienced over the past 3 years demonstrates the robust growth made possible by our direct to consumer business model. We’re grateful for our continued inclusion in this exclusive ranking and look forward to our continued growth as we continue to expand in telemedicine and other areas.”
About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, Deloitte’s 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 2015 to 2018.
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 $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
About Conversion Labs
Conversion Labs, Inc. (the "Company") is an e-commerce and telemedicine company with a portfolio of proprietary online brands. In June 2019, the Company entered into a joint venture with GoGoMeds.com, to sell, dispense and ship prescription drugs directly to consumers in all 50 states. The Company’s portfolio brands market and sell over-the counter (“OTC”) and prescription health and wellness products. OTC and prescription products are marketed directly to customers with an internal advertising platform leveraging a blend of social media, search, and e-commerce services, provided by Facebook, Google, and Amazon. On October 9, 2019, the Company received LegitScript certification, a service used by government agencies around the world to verify the legitimacy of online businesses. Conversion Labs owns 51% of PDFSimpli, an online direct-response software as a service business. To learn more about our corporate strategy, brands, or for investor relations please visit www.conversionlabs.com or email us at info@conversionlabs.com.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell its products; the expected benefits and efficacy of the Company's products; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including, our current reports on Form 8-K.