IGLOO Software Wins Red Herring Top 50 Award

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Social networking company recognized as one of Canada's most innovative.

To be recognized by Red Herring as a leading Canadian company is a direct reflection of the motivated team we have at IGLOO

IGLOO Software, an emerging leader in corporate social networking (CSN), today announced it has been named by Red Herring as one of Canada's most innovative and promising companies. Placing on the Red Herring Top 50, IGLOO provides organizations big and small with the ability to share information and network in an easy-to-use Web 2.0 community environment. Leveraging an established suite of online tools, IGLOO is changing how organizations approach content management, collaboration and social networking while increasing employee visibility across the company.

"To be recognized by Red Herring as a leading Canadian company is a direct reflection of the motivated team we have at IGLOO," said Dan Latendre, CEO, IGLOO Software. "As the adoption of Web 2.0 continues to gain momentum in the workplace, we are starting to see a major shift in how employees approach networking. Corporate social networking tools help employees become more aware of the projects happening within their organization as well as helping them to build stronger relationships with colleagues."

The annual Red Herring Top 50 Awards are evaluated on both quantitative and qualitative criteria including financial performance, technology innovation, quality of management, and execution of strategy. The awards were presented at the Red Herring Canada 2008 event on September 16, giving winners the opportunity to present their technology to leading entrepreneurs, financiers, and corporate strategists.

The IGLOO CSN suite is entirely Web-based and is delivered to customers as a software-as-a-service (SaaS) offering. This allows customers to deploy quickly and scale to hundreds-of-thousands of users without incurring large implementation costs or investment of time by IT. The IGLOO suite is ideal for supporting internal business groups and external partner and customer collaboration. Using profile features, RSS feeds and blog subscriptions, users not only increase their own online profile within IGLOO communities, but can also strengthen relationships across their organization with colleagues both inside their immediate network and within other lines of the business to gain a holistic view of the company.

About Red Herring:
Red Herring is a global media company uniting the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine; an online daily technology news service; technology research, and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. For more information, visit http://www.redherring.com.

About IGLOO Software:
IGLOO provides a secure, easy-to-use corporate social networking suite to businesses of any size. Our software improves business performance by reducing email burden and enhancing collaboration between distributed teams and the growing mobile work force. Delivered over the web using a software-as-a-service (SaaS) delivery model, companies can quickly and cost-effectively create social networks to leverage talent, knowledge and relationships across organizational and geographical boundaries. IGLOO is funded by RBC Venture Partners. Jim Balsillie is Chair of the IGLOO board. For more information visit: http://www.igloosoftware.com.

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