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Tagged Announces Record 2011 Results, Fourth Consecutive Year of Profitability(January 19, 2012)
SAN FRANCISCO, CA -- (Marketwire) -- 01/19/12 -- Tagged, the social network for meeting new people, today announced its 2011 fiscal performance. Record business results included revenue growth of 35 percent to over $43 million, tripled registered users to over 330 million with the acquisition of hi5, tripled staff size and a fourth consecutive profitable year for the company.
Tagged also completed its first four acquisitions to-date, with December's acquisition of hi5 seen as a watershed for the social category. The company founded its own internal game studio, and with 2011's comprehensive suite of mobile offerings grew mobile usage to over 30 percent of its daily active users. Tagged was also recognized in 2011 by Forbes as One of "America's Most Promising Companies," was selected as an Inc. 5000 Fastest Growing Private Company, and was included on San Francisco Business Times' list of Best Places to Work in the Bay Area .
Tagged Topline 2011 Results:
- Total Revenue grew 35 percent to over $43 million
- Acquired hi5, Digsby, WeGame and Topicmarks
- With acquisition of hi5,
- Tripled registered users to over 330 million
- Doubled active users to over 20 million
- Virtual currency revenue up 60 percent from 2010
- More than tripled Tagged staff from 48 to 172
- Established game studio to handle all social game development
- Fourth consecutive year of profitability
"Tagged is kicking off 2012 with incredible momentum," said Tagged CEO Greg Tseng. "2011 was a year of unparalleled growth as we tripled our staff, attained record revenue and completed several strategic acquisitions. We're putting all our energy toward building the best place to meet new people online and our users can expect big things this year."
Tagged is the social network for meeting new people. While other offerings focus almost exclusively on existing relationships, Tagged has established the category of social discovery. Tagged is the largest social discovery network in the world with over 330 million members (combined with recently acquired hi5) in 220 countries. Tagged enables anyone to meet and socialize through social games, advanced browsing features, shared interests and more. Founded in 2004, Tagged is based in San Francisco. More information is available at http://about.tagged.com
Natron Communications for Tagged
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