Red Herring Asia Awards 2011, which took place in Hong Kong last week has declared SnapDeal, AaramShop Private Limited, Kenscio Digital Marketing, PageTraffic Web Tech Private Limited, WATMedia Pvt Ltd and others as winners from India. Red Herring’s Top 100 list has become a mark of distinction for identifying promising new companies and entrepreneurs.

“As SnapDeal continues its exponential growth trajectory, and rapid expansion into products ecommerce, we see this recognition by Red Herring as a commendation of our team’s efforts over the last 18 months to build a best in class internet brand and technology company in India.” says Kunal Bahl, CEO of Snapdeal.com.

2011 has been a great year for PageTraffic with opening of new offices in Mumbai and London. It already has offices in New Delhi, Noida and Chicago. “The competition was tough and it was a prestigious award to win, so we are pretty upbeat about it. It is an honor to emerge as a winner,” said Navneet Kaushal, CEO, PageTraffic.

Rajiv Dingra, CEO & Founder, WatMedia, said, “Red Herring is like an Oscar in the Technology Industry therefore I am not just excited but I take it as a big responsibility to be consistent in doing well and getting better. It is an honor because they select us on the basis of financial performance, technology innovation, quality of management, execution of strategy, and integration into our respective industries.”

Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration.