Deloitte Announces 2012 Technology Fast 500™ Rankings

            Deloitte Announces 2012 Technology Fast 500™ Rankings

Tesla Motors, Inc. Zooms into First Place; Innovation "Hot Spots" Continue to

PR Newswire

SAN FRANCISCO, Nov. 14, 2012

SAN FRANCISCO, Nov. 14, 2012 /PRNewswire/ --Deloitte announced the 2012
Technology Fast 500, a ranking of the 500 fastest growing technology, media,
telecommunications, life sciences and clean technology companies in North

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Tesla Motors, Inc. (NASDAQ: TSLA) clinched the top spot with fiscal year 2011
revenue of $204.24 million and a growth rate of 279,684 percent from 2007 to
2011. Based in Palo Alto, Calif., the company designs and manufactures
electric vehicles and electric vehicle power train components.

"The 2012 Deloitte Technology Fast 500 winners have demonstrated remarkable
innovation and spectacular growth," said Eric Openshaw, vice chairman and U.S.
technology, media and telecommunications leader, Deloitte LLP. "Some of the
most exciting and useful developments of the future are being created by the
companies on this list. We congratulate Tesla and all of the winning companies
on this impressive achievement."

"Tesla took great strides as a company this past year by successfully
delivering Model S, the world's first premium electric sedan to customers, and
executing a steep production ramp while creating more than 2,000 jobs in the
U.S. We also expanded our partnerships with Toyota and Daimler in order to
increase sales of electric vehicles globally," said Deepak Ahuja, chief
financial officer at Tesla Motors. "We are honored to be part of a sector that
continues to achieve high growth, and are committed to building the best car
in the world while setting new standards for efficiency, safety, style,
technology, operating cost and performance. We thank Deloitte for this

The top ten ranked companies are as follows:

2012                                                 Growth
Rank     Company                Sector                          City, State
                                                     (2007 to
1        Tesla Motors, Inc.     Clean technology     279,684    Palo Alto, CA
                                Communications/      166,938    Santa Clara,
2        Palo Alto Networks                          percent    CA
         Sagent                 Biotechnology/       146,443
3        Pharmaceuticals, Inc.                       percent    Schaumburg, IL
                                Communications/      55,413
4        FireEye, Inc.                               percent    Milpitas, CA
         Aerohive Networks,     Communications/      44,569
5        Inc.                                        percent    Sunnyvale, CA
6        Avail-TVN              Media and            38,479     Reston, VA
                                entertainment        percent
                                Biotechnology/       31,721
7        NeoStem                                     percent    New York, NY
8        Avigilon Corporation   Software             29,917     Vancouver, BC
                                                     25,482     Greenwood
9        Recondo Technology     Software             percent
                                                                Village, CO
10       EcoSynthetix Inc.      Clean technology     25,327     Burlington, ON

Innovation hot spots continue to sizzle

Deloitte Technology Fast 500 winners hail from cities far and wide across
North America - from Portland, Maine; to Denver, Colo.; to Vancouver, British
Columbia. Of the dozens of cities represented on the list, some have a
particularly strong track record of consistently attracting inventive
entrepreneurs and providing them with a supportive environment.

"Creative and cutting-edge cities often have several things in common
including access to capital, supportive local governments, and world-class
education systems," said Bill Ribaudo, national technology, media and
telecommunications leader for audit and enterprise risk services, Deloitte &
Touche LLP. "Many of these cities have the resources and culture that startups
need to thrive, and so they have become innovation powerhouses and
consistently turn out fast-growing companies year over year."

Following is a list of innovative cities with a significant concentration of

                                       Fastest-growing Company in the
Location               Percent of List                                Overall
San Francisco Bay area 20 percent      Tesla Motors, Inc.             1
Boston                 9 percent       HubSpot                        17
New York               6 percent       NeoStem                        7
Los Angeles            6 percent       EdgeCast Networks              13
Washington D.C.        6 percent       Avail-TVN                      6
Philadelphia           6 percent       MeetMe, Inc.                   32
San Diego              6 percent       Optimer Pharmaceuticals, Inc.  15
Toronto                5 percent       EcoSynthetix Inc.              10

Software still dominates

For the seventeenth consecutive year, software companies dominated the list,
comprising 40 percent of the overall list with 200 companies. Consistent with
prior rankings, the biotechnology/pharmaceutical, internet, and
communications/networking sectors also had strong showings. The
biotechnology/pharmaceutical sector and internet sectors were tied for second
place with 13 percent of the list, and the communications/networking sector
came in at a close third place with 12 percent of the list.

Sector rankings are as follows:

                             Sector    Fastest-growing    Company
                             make-up   Company in
Sector                                                    Overall City, State
                             of Fast   the Sector
                             500                          Ranking
Software                     40        Avigilon           8       Vancouver,
                             percent                              BC
Biotechnology/               13        Sagent                     Schaumburg,
                             percent   Pharmaceuticals,   3       IL
Pharmaceutical                         Inc.
Internet                     13        EdgeCast Networks  13      Santa
                             percent                              Monica, CA
Communications/Networking    12        Palo Alto Networks 2       Santa Clara,
                             percent                              CA
Clean Technology             7 percent Tesla Motors, Inc. 1       Palo Alto,
                                       MAKO Surgical              Fort
Medical devices              5 percent Corp.              18      Lauderdale,
Media and entertainment      4 percent Avail-TVN          6       Reston, VA
Semiconductor                3 percent SiTime Corporation 38      Sunnyvale,
Computers/peripherals        2 percent Layer 7            183     Vancouver,
                                       Technologies               BC
Scientific/technical         1 percent Obzerv             239     Quebec, QC

For additional detail on the Technology Fast 500 including the complete list
and qualifying criteria, visit

As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries.
Please see for a detailed description of the legal
structure of Deloitte LLP and its subsidiaries. Certain services may not be
available to attest clients under the rules and regulations of public

SOURCE Deloitte

Contact: Jessica Heine, Public Relations, Deloitte, +1-415-783-5007,
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