Memphis, TN, Jan. 07, 2020 (GLOBE NEWSWIRE) — Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Marketplace Network for convenience stores, bodegas and community markets that provide products to the underbanked, today announced that it has been recognized in Deloitte’s 2019 Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, and energy tech companies in North America.
Anthony Nuzzo, President of Surge, stated, “We are honored to receive this recognition from Deloitte as one of the 500 fastest-growing companies in North America for 2019. In just a few short years, we grew from a monthly revenue run rate of approximately $125,000 to over $5 million per month. We achieved these results while 2019 was primarily focused on product development and building our infrastructure to support our anticipated continued growth going forward. In particular, this award highlights our tremendous progress in the rollout of the SurgePays™ Marketplace, a product sales channel that disrupts the traditional c-store supply chain model by providing local retailers direct access to regional manufacturers from around the country. Overall, we believe we have built a solid foundation for rapid and scalable revenue growth in 2020 and beyond.”
About The Deloitte Technology Fast 500:
Recognizing growth for 25 years – The Deloitte Technology Fast 500 is one of the most objective rankings for technology, media, telecommunications, life sciences, and energy tech companies. It was created to recognize the effort and dedication of the fastest-growing technology companies—both public and private—in North America. For the 25th year, we’re honoring the companies that define the cutting edge; transform the way we do business; combine technological innovation, entrepreneurship, and rapid growth; and disrupt the technology industry. Winners are selected based on percentage fiscal-year revenue growth over a three-year period. The ranking is compiled from applications submitted directly to the Technology Fast 500 website and public company database research conducted by Deloitte LLP.
About Surge Holdings, Inc:
Surge Holdings, Inc. operates the SurgePays™ Marketplace, a product sales channel that disrupts the traditional c-store supply chain model by providing independent and local retailers direct access to regional manufacturers from around the country. Surge leverages its wholly owned subsidiaries (value driven prepaid wireless and fintech products) to build relationships with convenience stores, bodegas, tiendas and community markets that serve the underbanked and unbanked – approximately 35% of the US population. Once a store is onboarded to the SurgePays™ Marketplace, and the trusted profit partnership is established, Surge upsells other consumable goods by connecting manufacturers directly to these retail stores. The SurgePays™ Marketplace provides manufacturers measurable cost savings by cutting out distributors and offers an efficient platform to access independent retailers to sell products nationwide with improved payment terms. For more information on Surge Holdings and its subsidiaries, please visit: https://surgeholdings.com.
Forward Looking Statements
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
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