|By PR Newswire||
|August 20, 2014 07:00 AM EDT||
NEW YORK, Aug. 20, 2014 /PRNewswire-iReach/ -- For only the second time in its 33-year history, the Inc. 5000 has a repeat winner. Inc.'s annual list of the fastest-growing private companies in America, the Inc. 5000, tracks companies with such phenomenal growth rates that qualifying for the list twice in a row at any rank is an accomplishment. Repeating at No. 1 is almost unheard of.
Fuhu, an El Segundo, CA. manufacturer of tablet computers for kids, has seen an eye-popping 158,957% leap in revenues over the past three years, the largest growth spurt ever recorded in the Inc. 5000. To put that figure in perspective, when Fuhu took top honors last year, its growth rate was 42,148%. The only other back-to-back No. 1 in the Inc. 5000's history was energy management company Cogentrix, in 1989 and 1990.
Fuhu is representative of an amazing group of small businesses growing at breakneck speed, helping drive the country's economic revival and the rebound in employment. Their success has been all the more remarkable considering the otherwise sluggish rebound:
- The median growth rate for Inc. 5000 companies has been 151+% over the past three years, generating collective revenue of $211 billion.
- Inc. 5000 companies have created 505,000 jobs over the past three years.
- To make the top 500, a company had to have achieved a remarkable three-year growth of 942%.
Fuhu is joined by an impressive collection of closely-held companies that represent guts, determination, and endurance across a number of fields, including GoPro (the maker of hi-def strap-on personal cameras), GoDaddy (which offers Internet domain registration and hosting), Allen Edmonds (manufacturer and retailer of upscale shoes), Lolly Wolly Doodle (a kids clothing manufacturer that sells through Facebook), Refinery 29 (the fashion/beauty catalog and commentary website), and Bowlmor AMF (the bowling empire).
Creativity plays a prominent role in the success of companies on this year's list. Among the more inventive winners are gamemaker CoolMiniOrNot, which, in a reverse-technology twist, makes board games that play like video games, and rehab engineering firm Boxman Studios, which turns old shipping containers into travel party spaces for events.
"What surprises me, even though I know it's coming, is the sheer variety of the paths our entrepreneurs take to success, reflecting how our economy has evolved," says Inc. President and Editor-In-Chief Eric Schurenberg. "This year there are far more social media and far fewer computer hardware businesses than there were, say, six years ago. But what doesn't change is the fearsome creativity unleashed by American entrepreneurship."
Listings and profiles of the top 500 companies appear in the September issue of Inc. magazine (available on newsstands August 20th to November 30th) and on Inc.com. The complete Inc. 5000 appears on Inc.com and in Inc.'s tablet editions, starting on August 20th.
The annual Inc. 5000 event honoring all the companies on the list will be held from October 15 through 17, 2014 in Phoenix. Speakers include some of the greatest entrepreneurs of our time, including Michael Dell, Martha Stewart, host of the CNBC show "The Profit" Marcus Lemonis, Container Store Founder and CEO Kip Tindell, and Chobani Founder and CEO Hamdi Ulukaya.
The list made its debut in 1981 as a ranking of the 100 fastest-growing private companies in the U.S. The following year, it expanded to 500 companies and, in 2007, the Inc. 5000 was inaugurated. Companies such as Microsoft, Zappos, Clif Bar, Intuit, Chobani, Zipcar, Oracle, and many other well-known names gained early exposure as members of the Inc. 500. Through each evolution, Inc. has sought to recognize and to celebrate the creativity, dedication, and hard work that entrepreneurs put into building their companies.
Complete results, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com/inc5000.
The 2014 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2010 to 2013. To qualify, companies must have been founded and generating revenue by March 31, 2010. They had to be U.S.-based, privately held, for profit, and independent--not subsidiaries or divisions of other companies--as of December 31, 2013. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2010 is $100,000; the minimum for 2013 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.'s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
About Inc. and the Inc. 500|5000
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today's innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit http://www.inc.com/ .
The Inc. 500|5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list of the nation's most successful private companies has become the hallmark of entrepreneurial success. The Inc. 500|5000 Conference & Awards Ceremony is an annual event that celebrates their remarkable achievements. The event also offers informative workshops, celebrated keynote speakers, and evening functions.
For more information on Inc. and the Inc. 500|5000 Conference, visit http://www.inc.com/.
Media Contact: Patrick Hainault, Inc. Magazine, 212-389-5373, [email protected]
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SOURCE Inc. Magazine
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