iboats.com named fastest growing company in Utah

Press Release | October 26, 2004

United States

Salt Lake City, UT - October 26, 2004 - iboats. com, the #1 website for the boating public, was recognized as the "Fastest revenues growth company in Utah" by MountainWest Venture Group at an awards luncheon with more than 1,100 attendees held recently at the Grand America Hotel in Salt Lake City, UT. iboats had an accumulated revenue growth over the last five years of 14,601%.

Started in 1995 as Utah's only business growth recognition program, the MountainWest Venture Group identifies and recognizes the top 100 Utah-based companies who have grown the fastest in revenues over the last five years. Three of the other recognized fast-growing Utah-based companies iboats.com beat out were Overstock.com, Infopia, Inc. and Altiris, Inc.

U.S. Senator Bob Bennett, R-Utah, who sits on the Senate's Small Business Committee was the featured speaker at this year's ceremony entitled "10 Years of Celebrating Achievement." Bennett said, "This year's top 100 companies represent the future. These companies represent where our children will work, where our grandchildren will get jobs."

Devin Thorpe, chairman of the MountainWest Venture Group's Utah 100 Awards, said he remembers when iboats.com was in its start-up phase. "No one was sure whether the model would work," Thorpe said. "It is remarkable that they are one of the few, true, pure dot-com companies created during the bubble period that has survived, thrived and really grown. It's really a tremendous success story."

About iboats.com iboats.com was co-founded in October of 1998 by Bruno Vassel III and his son Bruno IV. Today the company offers a broad range of e-commerce opportunities that support all boating, fishing and water-sports enthusiasts. To back up its claim of being the #1 boating site, iboats.com currently receives over 33 million visitors per year who view a quarter billion pages. iboats also covers all major areas of interest in boating with the largest number of boating items for sale online, boating classifieds, boat financing and insurance, and the largest marine directory and boating forums online. These forums currently have 549,473 answers posted to over 97,600 questions covering 21 marine-related topics, an average of 6 answers for every boating question. Some questions receive over 75 answers. As a core principle of the company, iboats strongly supports the marine manufacturers and thousands of retailers in North America, offering them online business solutions in the form of personalized web sites, e-commerce capabilities, powerful online boat-listing services, a boat and motor leads program, and significant traffic directed to participating retailers' web sites and physical establishments.