On Tuesday, Inc. Magazine revealed their 4th annual list of the 5000 fastest growing private companies based on three-year sales growth. Vindicia was recognized as #1068 with a growth rate of 282% over the last three years. We are very honored to have been selected and our growth is a testament to not only the strength of our team and products, but the growing need for consumer billing around digital goods and services. We can’t wait to share the growth rate next year!
Our profile on the list can be found here and many of our neighbors and customers can be found on the San Francisco or San Jose lists.
There was some interesting data in the official press release about the overall makeup, geography & revenues of the list as well.
The Hottest Regions for Fast-Growing Companies
California continues to rule the roost by number of companies on the Inc. 500, with 92, up from 84 last year and 78 in 2008. The Golden State is followed by Texas (52), Virginia (46), New York (36), and Florida (29). These five states place in the same order as last year, and each of them has more companies on the 500 than last year. They now account for more than half of the companies on the list.
The New York City and Washington, D.C., metropolitan areas both gain companies this year, and New York has catches up with Washington, with each of them boasting 48 Inc. 500 companies. (Washington had 42 last year; New York had 36.) San Francisco moves up from fifth to third place, with 29 companies (up nine from last year) Los Angeles drops from third to fourth place, with 27 companies (down nine from last year); and Dallas joins the top five, with 23 companies. Chicago drops out of the top five.
The Inc. 500 at a Glance
Computer Hardware is by far the fastest-growing industry on this year’s Inc. 500, with a total growth rate of 7,194 percent. (That’s thanks to the fact that the category contains just two very fast-growing companies.) Logistics & Transportation is second, with a rate of 2,783 percent, and Security is third, with a rate of 2,299 percent.
In total, the companies on the Inc. 500 employ more than 45,000 people. Government Services is the top employer, with 7,011 jobs, followed by Business Products & Services (5,289), Consumer Products & Services (4,804), IT Services (4,355), and Advertising & Marketing (3,533).
Advertising & Marketing has the most companies on this year’s Inc. 500 list, with 60, followed by Government Services (59), Business Products & Services (45), IT Services (41), and Software (36).
The top woman-run company is Lexicon Consulting (No. 4 overall), based in El Cajon, California. Lexicon creates mock Iraqi and Afghan villages used to train military personnel. The firm, founded by Jamie Arundell-Latshaw in 2005, recorded revenue of $17.9 million in 2009 and a three-year growth rate of 14,018 percent. The top minority-run company is WDFA Marketing (No. 5 overall), a San Francisco–based firm that specializes in guerrilla, grass-roots, and micro-marketing. WDFA, founded by Raj Prasad, posted revenue of $38.4 million in 2009 and a three-year growth rate of 13,350 percent.
The Inc. 500 posted aggregate revenue of $11.3 billion, down 39 percent from last year. Median three-year growth is 1,231 percent, up almost 40 percent over last year. The top five industries by total revenue are Consumer Products & Services ($1.9 billion), Government Services ($1.4 billion), Advertising & Marketing ($1 billion), Business Products & Services ($872 million), and Energy ($661 million).
