Spongecell Places No. 76 on the Inc. 500 with Three-Year Sales Growth of 3,064%

First Appearance on Inc. Magazine Annual List of America's Fastest-Growing Private Companies

New York, New York, UNITED STATES

New York, Aug. 29, 2011 (GLOBE NEWSWIRE) -- Inc. magazine has ranked Spongecell, the interactive display advertising company that is leading the creative resurgence of online display, at 76th on its annual ranking of the nation's 500 fastest-growing private companies in recognition of Spongecell's three-year sales growth of 3,064 percent. In addition to being No. 76 on its overall list, Spongecell also ranked No. 9 within the Advertising and Marketing industry and No. 7 within the state of New York.

The list represents the most comprehensive look at the most important segment of the economy--America’s independent entrepreneurs. Companies such as Microsoft, Zappos, Intuit, Jamba Juice, Zipcar, Clif Bar, Vizio, Oracle, and many others achieved gained early exposure as members of the Inc. 500.

Spongecell, a New York based company that transforms standard banner ads into dynamic flash ads with rich media-like functionality has grown from pre-revenue in 2007 to $3.8 million in sales in 2010. Last year the company ran over 1,000 campaigns, up from 10 in ‘08. In that same time span, the company staff has grown from 5 to 40 located throughout the United States and Europe. The company recently completed a new round of financing led by Eric Schmidt, Google's Executive Chairman, and Jim Pallotta, Chairman and Managing Director of Raptor Group.  

"Spongecell's growth has been extraordinary, especially in a struggling economy," says Founding CEO Ben Kartzman. "But staying at the forefront of API-enabled technology that is pushing the boundaries of the next generation of display advertising has been a major factor. We are pleased that our extraordinary sales growth has been recognized by Inc.. It’s a great honor, and we remain committed to delivering the best possible technology and products to our clients and partners."

The 2011 Inc. 500, featured in the September issue of Inc. is a group of companies that are smaller but much faster-growing than last year’s crop. Aggregate revenue is $10.5 billion, with a median three-year growth of 1,275 percent. The companies on this year's list employ more than 46,000 people and generated over 35,000 jobs in the past three years. Complete results of the Inc. 500, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com/500.

Spongecell (https://Spongecell.com/) is leading the creative resurgence of online display advertising by combining speed, innovation and advanced engineering to transform standard banner ads into rich-media-like interactive ads that can run in any ad placement on the web.  The company works with creative and media agencies to serve thousands of engaging campaigns across billions of impressions for global brand advertisers every year. Spongecell is an independent company founded in 2006 with headquarters in New York and offices throughout the United States and Europe.

The Spongecell logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=10332



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