Deloitte Reveals Asia Pacific’s 500 Fastest Growing Technology Firms for 2011

The tenth annual Technology Fast 500 Asia Pacific Awards ceremony was held at the Ritz Carlton Hotel on Thursday, December 1, 2011, attended by 250 C-level executives and senior management from winning companies across Asia Pacific including Australia, Mainland China, Hong Kong, Macau, India, Japan, Malaysia, New Zealand, Singapore, South Korea, Taiwan and Thailand.  As a member of Deloitte AP ICE team, I had the pleasure to attend the award ceremony.

This year’s fastest growing company, The Store Corporation (Yihaodian) from China, grew an incredible 19,218 percent over three years. Yihaodian is a fast-growing e-Commerce company in China that provides customers with a one-stop shopping platform where customers can buy all their essential daily items at competitive prices. Since its launch, Yihaodian has achieved a significant position in China’s online grocery sales market and currently has over 4,000 employees and five major distribution networks in Shanghai, Beijing, Guangzhou, Wuhan and Chengdu, serving its rapidly expanding customer base. Gang Yu, Chairman and Chief Executive Officer of Yihaodian, said: “Our core competitiveness lies in our strong supply chain management, which enables us to sell fast-moving consumer goods. We have established an integrated shopping platform from the beginning, providing our customers with one-stop shopping convenience and the best customer service experience.” He also said that the convergence in the industry will bring exciting new opportunities, such as social community shopping, mobile e-commerce, micro-blog sales, e-merchandising and cloud computing."

This year, the average revenue over three years across the Top 500 ranked firms increased by 476%, which is more than the 374% increase in 2010.  The Top 5 firms realized an average revenue growth of 9,910%, which was just shy of the 10,338% growth last year.

It was quite amazing and inspiring to meet entrepreneurs with innovative minds from various industries including Semiconductor, Electronics, Bio-tech, Internet, Telecommunication and Networking.  I was the Deloitte representative sitting at a table with executives from winning companies, as one of my roles at Deloitte AP ICE is advising Asia Pacific based companies when they expand overseas, I was excited to see many of these companies are not only growing fast and furious in the Asia Pacific region, but also expanding to North America and Europe in a fast pace!