The popularity of internet phenomenon Friends Reunited has been recognised after the reunion website was presented with the Sunday Times Tech Track 100 award for the 'Best Use of Technology' at a ceremony held at County Hall, London , on 30 November.
The award, sponsored by Microsoft, was presented to Friends Reunited chief executive Michael Murphy for using 'web technology to put long-lost friends, family and schoolmates back in touch'.
Murphy, said: "It's a great honour to receive this accolade on behalf of the Friends Reunited team, who have successfully produced a simple website that is fun and easy to use.
"Building on the success of the parent site, recently launched genealogy site Genes Reunited and online dating service Friends Reunited Dating are both winning formulas in their own areas and provide a real benefit to members, enabling them to connect to their past, present and future."
The company was selected from the Tech Track 100 league table, which ranks the UK 's fastest-growing unquoted technology companies based on sales growth over the last two years. With sales growth of 79% a year from £2.4 million in 2001 to £7.6 million in 2003, Friends Reunited was placed number 61 in the league table. In 2004, the company is forecast to achieve revenues of around £9 million and profits of over £5 million, with a net margin of around 60%.
Founded by North London based husband and wife team Steve and Julie Pankhurst and their business partner Jason Porter, Friends Reunited was launched in July 2000 so that people could get in contact with their old school friends. A combination of word of mouth and immense media attention has propelled the site to phenomenon status, expanding beyond the school friends proposition to include workplaces, teams/clubs and streets. The site has over 11 million members, representing 42% of the adult internet population in the UK .
To help take the company to the next stage in its development, in February last year the trio opted for a management buy-in. Headed by Michael Murphy (former COO of Financial Times), the new management team has successfully retained the core ethos – no customer exploitation - at the same time as implementing the good business practice necessary to ensure structured yet rapid growth.
Building on the enormous success of the parent site, brand extensions Genes Reunited and Friends Reunited Dating are both winning formulas in their own areas and provide a real benefit to members, enabling them to connect to their past, present and future.
Genes Reunited: In just 20 months has become the UK 's largest genealogy site
Friends Reunited Dating: Fastest growing dating site in the UK and already the 5 th largest
About The Sunday Times Microsoft Tech Track 100
The fourth annual Tech Track 100 league table was published in The Sunday Times on 3 October 2004. Tech Track 100 ranks Britain 's fastest-growing unquoted tech companies by sales over a two-year period, between 2001 and 2003. To view the league table and the profile on each company as they appear in The Sunday Times visit www.fasttrack.co.uk.