13 April 2005

Multimap Wins Place in Red Herring’s Top 100 European Companies Awards

Red Herring, the media company dedicated to technology and innovation, has named Multimap, Europe’s leading online mapping provider, as one of the Top 100 private companies in Europe (including Israel). The results of the competition, for which over 800 companies were put under the microscope, were announced at the opening party for Red Herring’s Venture Market Europe event in London on Tuesday, 12th April.

The winning companies were those that demonstrated the greatest commitment to innovation, technology, financing, marketing, sales, service, leadership and business strategy. Red Herring’s editorial staff evaluated more than 800 private companies through careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. Multimap scored highly on all of these counts. Other winning companies include The Cloud, Kalido, Digital Bridges and MessageLabs.

Red Herring’s lists of top private companies are an important part of the magazine’s tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google and eBay were identified in their early days by Red Herring editors as organisations that would change the way we live and work. This is the first time that Red Herring magazine has compiled a list focused exclusively on the most promising startups in Europe.

“Our list shows that despite obstacles posed by regulations, bureaucracy and tradition, innovation and entrepreneurship continues to thrive in Europe, We’ve selected companies we believe to be the most exciting, well-managed and innovative in technology today” said Red Herring editor-in-chief, Joel Dreyfuss.

Commenting on the award, Jeff Kelisky, CEO of Multimap, said, “We are confident that our robust business model, solid forecasts for growth, and top-notch online mapping services will translate to continued success in the coming years. We are very pleased to have been recognized as one of Red Herring’s top 100 European companies, and we are delighted to accept the award.”

About Multimap

Multimap is Europe's leading provider of mapping and location-based services. The company delivers more online maps, point-to-point driving directions and geo-spatial ("where's my nearest?") searches to more companies than any other supplier in Europe. All services are offered on mobile, PDA, kiosk, and interactive TV platforms and in multiple languages.

The public website, www.multimap.com, provides a range of free, useful services to assist with everyday life. Key features include street-level maps of Europe, USA, Canada and Australia; road maps of the world; door-to-door travel directions; aerial photographs; weather forecasts; links to location information; and services such as hotel, restaurant and entertainment booking. The public site attracts over 7.3 million unique users, registers more than 140 million page impressions every month, and is one of the top 10 most visited websites in the UK. Multimap recently featured in The Sunday Times Fast Track 100 league table of fastest-growing unquoted UK companies across all sectors.

About Red Herring

Red Herring, Inc., founded in 1993, is a media company whose mission is to cover innovation, technology, financing and entrepreneurial activity. Its staff of award-winning journalists tell readers what's first, what matters and most importantly, why.

Red Herring is dedicated to thorough research, relevant metrics deep financial analysis, in-depth reporting, crisp writing and thoughtful debate. We are a skeptical, intelligent and trustworthy source of information in technology business. Our primary obligation is to provide the most relevant, honest and independent information and analysis to our audience, with the conviction that an exceptional editorial product is the best catalyst for success and the best way to serve our advertisers and investors. Our content is original, compelling and actionable for industry executives and entrepreneurs.

A privately held company, Red Herring, Inc. is headquartered in Belmont, California.

For more information visit www.redherring.com