Fashion website takes top Deloitte Fast 50 spot

Internet retailer Brandsexclusive Australia has won the Deloitte Fast 50 2012 award as the fastest growing technology business in the land with a growth rate of 1335.1 percent.

To qualify for the Fast 50, companies need to have more than three years' of existing revenue data and exceed $8 million in cumulative earnings over the period.

Brandsexclusive is a private company, led by Daniel Jarosch, which operates Australia's first invitiation-only fashion shopping website. It offers sales events from over 800 brands to members.

Two million people have signed up to Brandsexclusive and the site is growing by 90,000 members a month. The company also took out the Leadership Award for 2012.

Second-placed clean and sustainable alternative energy company Australian Renewable Fuels also saw more than ten-fold expansion, registering 1235.7 percent growth.

Internet companies dominated the Technology Fast 50 list, with firms such as retailer Kogan, Neon Stingray, Cohort Digital, and RedBubble all making it into the list of top ten quick growers. Overall, 21 of the fifty companies listed are in the Internet category.

Software houses SolveIT, InfoReady and Astutepayroll also appeared on top of the Technology Fast 50 list.

Deloitte singled out M2 Communications (94.3 per cent)  and iiNet (75.4 per cent) for appearing in the index for seven consecutive years, and another Internet retailer, StyleTread, as this year's Rising Star winner.

This year's Fast 50 index showed an increase in total revenue, going from $2.2 billion in 2011 to $2.4 billion now.

The average three-year revenue for 2012 is 229 percent, up from 209 percent last year, according to Deloitte.