Asia’s 500 Fastest Growing Technology Companies

Hong Kong, November 20, 2014 - Deloitte Touche Tohmatsu Limited (DTTL) today announced its rankings of the 500 fastest-growing technology, media and telecommunications (TMT) companies across Asia Pacific. Korea’s Daum Kakao Corp secured first place in the 2014 Deloitte Technology Fast 500 Asia Pacific program, marking this as the first time a South Korean company has been the overall winner.

Based in Seoul, Daum Kakao Corp achieved an astonishing annual growth of 11,618%and is the company behind KakaoTalk, the popular mobile instant messaging application. The company was founded in 2010, and in 2013 generated its revenues through gaming, digital content, mobile commerce and marketing channels for brands and celebrities. Daum Kakao Corp has been named a "Top Developer" on Google's Android Market and KakaoTalk was chosen as the No.1 Free SMS App by CNET.

While Daum Kakao coupled the overall ranking, Chinese companies once again dominated the 2014 rankings with five companies in the top ten, including Telison; a Green Technology company. This strong achievement and the fact that four Green Technology companies make up the top 50 in the 2014 rankings may be an indicator of future growth in this sector.

“Our 2014 rankings have once again revealed some fascinating results from across the region and it’s encouraging to see a green technology firm take second place. It’s also extremely exciting that in addition to continued strong representation from China over the years, we now have a South Korean firm taking the top spot for the first time in the thirteen years of the Deloitte Technology Fast 500 Asia Pacific program history,” said Ichiro Nakayama, DTTL Leader, Technology Fast 500 Asia Pacific.

Revenue Growth Trends

The top 500 companies in 2014 averaged a revenue growth of 405%, a significant increase from last year’s average growth of 356%. Additionally, a total of342 companies making up this year’s ranking had final year revenues under US$10 million, a notable increase over 258 in 2013.

“The Technology Fast 500 Asia Pacific program delivers early insights into the kinds of technologies that might improve our lives in the future, and highlights exciting new business models that challenge the status quo” said Jolyon Barker, DTTL Managing Director, Global Technology, Media & Telecommunications.”

Geographic Trends

With 100 companies in the top 500, China once again leads the rankings geographically for number of fastest growing companies; but this year marked a decline from128 companies in 2013. Taiwan recorded 90 companies in the ranking, down from 108 companies last year.

Other countries are strengthening their presence in the rankings, with India now tied with Taiwan for second place, with 90 ranked companies. Considering India contributed 43 companies in 2011, this indicates an increase of some 109% over the last four years.

Similarly, Australia (74), New Zealand (51) and South Korea (47) also recorded increased numbers of ranked companies in the 2014 results.

“In the past 10 years, Indian companies have matured from being generic technology services suppliers to becoming sophisticated providers and consumers of technology services and products. India's record presence of 90 companies in the Fast 500 shows that India today stands on the threshold of the next wave of growth with the emphasis on technology and digital transformation to be the key enablers,” says Rajiv Sundar, Senior Director, Deloitte in India.

Sector Trends

Although the Software sector is slightly down by 16 companies from 2013, it still leads the industry sectors for the second consecutive year, with 146 companies and also delivers our overall winner in the ranking, Daum Kakao Corp.

The Telecommunications and Networking sector recorded an increase from 31 to 58 companies rankedsince2013, and from this sector Australia’s NEXTDC placed at number six in the ranking. The Media and Entertainment sector also recorded impressive growth of 69% over 2013, with more companies focused on digital advertising making the ranking.

While Green Technology saw little change in numbers listed on the ranking, it is notable that Chinese company Telison ranked number 2 overall, and a total of four Green Technology companies made the top 50 list, perhaps an indication that this sector is adapting fast and changing to meet market needs.

Private and Listed

Privately owned firms continued their annual trend of dominating over public companies and this year they held nearly 70% of the top 500.

Top 10 ranked companies in the 2014 Asia Pacific Technology Fast 500

The full list of winners of the Technology Fast 500 Asia Pacific program for 2014 and details about the nomination and eligibility criteria of the program can be found on www.deloitte.com/fast500asiapacific