DealerSocket Honored Among This Year's Most Promising Private Technology Companies in North America

SAN CLEMENTE, Calif., May 5, 2009 -- Leading automotive CRM provider DealerSocket, announced today it has added a new distinction to a long list of accolades by being named as a finalist for the "Red Herring 100 North America" award, a prestigious list honoring the year's most promising private technology ventures in North America. The Red Herring editorial team selected the most innovative companies from a pool of 1,200. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.

"To be chosen as a finalist for an award of such high distinction is truly an honor," said Jonathan Ord, DealerSocket Co-Founder and CEO. "Over the past year we have experienced incredible growth during a time when the automotive industry has been particularly hard hit. Our CRM product is helping auto dealers discover ways to retain precious market share and even grow during these challenging times. Our company is full of great people and this award is yet another testament to the hard work and dedication of the entire team. We all look forward to continuing to grow our customer base and help our customers do the same."

This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the "buzz" and make the list an invaluable instrument for discovering and advocating the greatest business opportunities in the industry.

"This year was especially difficult," said Alex Vieux, Publisher and CEO of Red Herring. "There were so many great companies producing really innovative and amazing products that we had a difficult time narrowing it down to 200. Now we're faced with the arduous task of selecting the final 100. We know that this year's crop will grow into some amazing companies that are sure to go far."

For over 10 years, The Red Herring 100 North America award, open to private technology companies headquartered in North America, has been given to the top 100 tech companies based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the telecom, communications, security, Web 2.0, software, hardware, biotech, and clean tech industries sent in their submissions to qualify for the award. Past award winners include Google, Yahoo!, Skype, Netscape, Salesforce.com, and YouTube.

The CEOs of the 200 finalists are invited to present their winning strategies at the Red Herring Conference in San Diego, where the Red Herring Top 100 will be announced.