StoreFront Challenges for Top Position in E-Commerce Solutions Market
LaGarde`s StoreFront Revenues and Market Position Soars
Kansas City, KS - Jan. 27, 2004 - LaGarde, provider of StoreFront e-business solutions (www.storefront.net), has risen to the number two position among e-commerce providers in the SMB market, just behind Yahoo Stores. LaGarde secured the second leading position by enabling more than 300 online merchants each month during 2003, representing a 10% share of the highly fragmented e-business solutions market.
In addition to the company`s market leading rate of acquisition for new merchants, LaGarde is very pleased with the financial results for the year, particularly when contrasted with reported revenues of its competitors. LaGarde`s revenues for the year were $3.2 million, an increase of more than 60% over 2002 and more than 50% higher than the most recently reported revenues of well known competitor, Miva. "And LaGarde was profitable for 2003," noted Bob LaGarde, CEO and founder of LaGarde. "When other leading competitors are reporting substantially lower, flat or declining revenues and very substantial operating losses, our results, including acquisition of new customers, growth of revenue and profitability suggest to us that we`ve got the right business model. Plans for 2004 include a continued aggressive push toward growing market share. This coupled with continued expansion of the e-business solutions market, identified in a recent Forrester report as the fastest growing segment of the IT market, positions LaGarde for exponential growth in 2004."
LaGarde offers a comprehensive suite of e-business solutions that includes cutting edge, robust and flexible e-business technology, professional design and store setup services and recurring services such as hosting and payment processing. This total solutions approach provides small business owners with the tools and resources they need to successfully launch and manage their e-business operations, offers mid-size companies a sophisticated e-business platform from which to build their e-business operations, and gives web developers a technology platform that can be customized and extended to meet the varied needs of their clients.
In addition, LaGarde is in the process of selecting an investment banking partner to assist the company in preparing for the projected growth opportunity emerging in the market for ebusiness technology. "We hope to make some notable investments in new products, technology and market share acquisition over the next 18 months," says LaGarde. "We are talking with several prospective investment banking firms now about assisting the company in acquiring a strategic partner to help support its continued growth in the evolving market for ebusiness technology and services."
About LaGarde
Founded in 1996, LaGarde is a leading global provider of e-business solutions for small and medium businesses. LaGarde`s StoreFront software and service products offer robust, feature-rich solutions to develop, deploy and maintain e-business sites that deliver enterprise functionality at an affordable price point. The StoreFront platform powers nearly 50,000 web stores in over 70 countries around the world. For more information, visit www.StoreFront.net or call 800-943-5823.
LaGarde, StoreFront and StoreFront Now are either registered trademarks or trademarks of LaGarde Incorporated in the United States and/or other countries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Contact:
Sarah Fender, Director of Product Marketing
LaGarde - StoreFront Product Group
913-489-0809
s.fender@lagarde.com
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