Mvine Nominated Finalist for the 2010 Red Herring 100 Global Award

17th January 2011

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London, UK, - 17th January 2011 – Mvine, a leader in social business software and services announced today that it has been selected as a Finalist for Red Herring's top 100 Global Award. This prestigious list honours the year’s most promising private technology ventures from across the globe.

The Red Herring editorial team selected the most innovative companies from a pool of 1200 worldwide companies – the Finalists from its Red Herring Asia, Europe and North America Awards. 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.

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 important instrument for discovering and advocating the greatest business opportunities in the industry, Mvine has been selected on this criteria.

With over 15 years of heritage in building communities and growing relationships to accelerate business, Mvine is ahead of the market. The Mvine platform delivers more breadth and depth than current social business software tools, creating business value across the whole supply chain and providing true thought leadership on the future of online business. Mvine provides B2B organisations with the tools and environment to create greater certainty in decision making by providing the right knowledge and information to the right people. By offering document management, security, online communications and business intelligence, and presenting it within the right business context, Mvine helps grow corporate relationships that generate higher customer retention and accelerate business.

"2010 was very difficult but extremely rewarding", said Alex Vieux, publisher and CEO of Red Herring. "Despite lingering effects of the global economic situation, there are many great companies producing truly innovative and amazing technologies, to the extent that we had a hard time narrowing the pool and selecting the finalists. Mvine shows great promise and therefore deserves to be among the Finalists. Now we’re faced with the difficult task of selecting the Winners of the Top 100 Global Award".

Finalists for the award are selected 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 spaces such as mobile, security, Web 2.0, software, hardware, biotech, and cleantech sent in their submissions to qualify for the award.

Commenting on the nomination, Mvine founder and current managing director Frank Joshi said: "We are delighted to be short-listed for this prestigious award. It demonstrates that our thinking and strategy is aligned to business needs. Today’s organisations need to squeeze every ounce of value out of their business relationships. These relationships are complicated and complexity will only increase as compliance regimes change. Delivering transparency, visibility and control in a multifaceted world is critical. Mvine helps to unravel business complexity by creating coherent lines of communication to build relationships, grow communities and accelerate business."

The Finalists are invited to present their winning strategies at the Red Herring Global forum in Los Angeles, January 24-26, 2011. The Top 100 winners will be announced at a special awards ceremony on January 26 at the event.