Third Annual MIT Sloan eBusiness Awards Announce Winners

Enron Honored as eBusiness of the Year; Shawn Fanning Takes Home ePerson of the Year Honors

Cambridge, Mass., April 23, 2001 -- Despite the recent market turbulence, MIT's Sloan School of Management, along with an all-star jury, recognized the outstanding achievements of nine organizations during the 3rd annual MIT Sloan eBusiness Awards, the premier awards honoring successful innovation in eBusiness. At a ceremony held this evening, eBusiness leaders from around the globe gathered to celebrate this past year's successes. The winners, selected from more than 600 nominations, include:

Enron (NYSE: ENE), (www.enron.com); eBusiness of the Year

Recognizes the company that best demonstrates innovation, leadership and social responsibility over the past year. Enron, a global provider of energy, is using the Internet to leverage its strength across new and old markets, enabling its customers to buy and sell instantaneously. Since its inception, Enron has processed more than 548,000 transactions online, grossing more than $336 billion in value, accounting for more than 60% of total transaction volume.

Shawn Fanning; ePerson of the Year

Honors the individual whose contribution to eBusiness has facilitated new innovations in electronic commerce. Mr. Fanning was responsible for developing the wildly-popular file-sharing website, Napster. The innovation spread like wildfire and caught the imagination of many eBusiness entrepreneurs.

RSA Security (NASDAQ: RSAS), (www.rsasecurity.com); Best Supporting Actor Award

Commends the company that has made significant progress in overcoming infrastructure shortcomings that have stunted e-business adoption or growth (i.e. improvement of Internet speed, the security of data transmission, or the reliability of vendors over the Internet). RSA Security is the most trusted name in e-security, helping organizations build secure, trusted foundations for eBusiness. RSA customers include the majority of the Fortune 500. More than seven million users across 4,500 organizations use RSA securID.

7-11 Japan (www.sej.co.jp); Business Transformation Award

Bestowed upon the company that has successfully enhanced its strategy to take advantage of a new channel (i.e. Internet, wireless). In June 2000, 7-11 Japan, the country's largest convenience store chain, introduced 7dream.com, an e-commerce portal that provides ordering and delivery of merchandise to stores. The service minimizes delivery costs and provides flexible pick-up time and payment options for customers.

Napster (www.napster.com); Disruptive Technology Award

Recognizes a technological innovation with the greatest potential to revolutionize eBusiness. Napster's software application enables users to locate and share media files in one convenient, easy-to-use interface. Napster's very existence has forced many to rethink the basic assumptions of how music is distributed.

Nokia (NYSE: NOK), (www.nokia.com); Global Reach Award

Honors a company that has introduced technology that has leveraged the Internet as a channel for extending global reach. Nokia is leading a new global initiative to define the technical architecture for the mobile Internet, and is heavily involved in 3G and personal area network developments. Its newest innovation, Short Messaging System (SMS), was the primary driver of mobile phone usage in Europe and Asia.

Vindigo (www.vindigo.com); Rookie of the Year Award

Commends the emerging eBusiness best positioned to generate explosive growth. The Rookie of the Year should have an innovative technology or business model, which will allow them to enter or create a market and acquire market share at Internet speed. Vindigo's core product, also called Vindigo, transforms Palm OS® handhelds into personal navigators, and has proven wildly popular, signing up 250,000 active users in under ten months. Vindigo combines mobility, insiders' insight, and in-depth content to adapt to a user's location and interests, allowing busy people to make quick, savvy lifestyle decisions wherever they are.

CitySoft (www.citysoft.com); Social Responsibility Award

Given to the company best demonstrating its commitment to the greater good through an innovative product, service, technology, or business practice. CitySoft provides high quality Web services while hiring from the pool of traditionally underrepresented talent from urban neighborhoods, and simultaneously changing the face of eBusiness. Currently, more than 50% of CitySoft's team are from urban neighborhoods and they are profitable on $5 million in sales from clients including Accenture Consulting, AOL and Polaroid.

Napster (www.napster.com); MIT Student Choice Award

The MIT Students' Choice is just that — the student body's choice for best e-business. What is “best"? Most innovative, most inspiring, coolest, most fun. This year's overwhelming winner was Napster, a favorite of the technologically savvy MIT student-body.

“MIT Sloan is in an ideal position to recognize these eBusiness innovators because we have been at the forefront of understanding and practicing the interactions between technology and management,” said Sloan Dean Richard Schmalensee. “Here on campus, we bring together the expertise of MIT with students and industry partners to advance both the promotion and practice of eBusiness.”

According to Glen L. Urban, Co-Director of the Center for eBusiness at MIT and Dean Emeritus of the Sloan School, “For the third consecutive year, Sloan students have pulled together a truly heavyweight event. This year, they have more than doubled nominations and tripled attendance. We continue to be impressed with the dedication of these students.”

“Successfully producing the third-annual and largest eBAs to date has been a fulfilling opportunity. The industry's commitment to this year's awards demonstrates that, despite the market turbulence of the past year, eBusiness is here to stay,” said Ed Macri, Co-Executive Producer of the awards.

Industry, media and academia all made a strong showing at the awards. Representatives from leading technology companies including Sun Microsystems, EMC and Intel were in attendance, along with new media titans Red Herring, eCompany Now and Fast Company.

The awards also attracted several high-technology and leading business sponsors, including FleetBoston Financial, the awards' exclusive platinum sponsor, as well as i2 and McKinsey & Company.

The MIT Sloan eBAs were founded in 1999 to recognize successful innovation in eBusiness. The awards are quickly becoming the heavyweights in eBusiness awards shows, with previous winners including Palm, eBay and NTTDoCoMo.

[ back ]

At MIT Sloan, companies are launched in courtyards and corridors. Research shows that start-ups conceived in a technology environment are the most successful.

For Media Inquiries

Paul Denning
Director of Media Relations
Tel: 617-253-0576
Fax: 617-253-5875
E-mail: denning@mit.edu

Patricia Favreau
Associate Director of Media Relations
Tel: 617-253-3492
Fax: 617-253-5875
E-mail: pfavreau@mit.edu