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Spruz, Inc. Defies Weak Economy with Explosive Growth
East Tennessee technology firm boasts 250,000 social networking websites—and counting
KNOXVILLE, TN, July 7, 2009 – Knoxville-based Spruz, Inc. ( www.spruz.com), the developer of a technology platform that enables users to build highly-customized social networking websites, announced today that more than 250,000 users have created sites on the company’s innovative proprietary platform.
“This is a major milestone for us,” said Jay Roberts, Spruz, Inc. President and CEO, who founded the company in March 2007 with David Furman. “New users are building sites at the rate of 10,000 per month and growth shows no signs of slowing.”
Featuring highly-customizable social websites, the robust Spruz website platform gives users the ability to create member profiles, groups, discussion forums, and blogs as a quick example. Anyone can create a white label social website community around common interests, friends or business.
For Roberts, the company’s success has been especially gratifying given the nation’s economic woes. Even more remarkable is the company’s funding story, a David-and-Goliath tale of success despite the absence of capital from outside sources. “We’re a bootstrapped company whose growth has been completely organic, unlike our major competitors,” Roberts said.
Competitor Ning parlayed more than $100 million of funding into 1 million social websites since its launch four years ago. Another competitor, WetPaint, has relied on more than $40 million in outside venture capital to build a company that today hosts about 1 million websites.
Roberts believes that his company’s success story is proof that a great idea developed proactively and managed sensibly can produce results that rival those of better-funded competitors. “In just over two years, we have built a business model that delivers a high-quality experience for users,” Roberts added. “We are pleased to offer a solution that makes sense for so many people.”
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