8 MN Companies Among Inc’s 500 Fastest-Growing
Eight Minnesota companies made Inc. magazine's annual list of the 500 fastest-growing private companies in the United States.
The list is based on each company's percentage of revenue growth between 2007 and 2010. Here are the eight local companies that made the cut, how they ranked, what they do, their 2010 revenues, and their three-year growth rates:
132: Renters Warehouse, Golden Valley-Manages residential properties, $3.3 million, 2,085.2 percent
224: ShopJimmy.com, Bloomington-Acquires new TVs damaged during shipping and sells usable parts, $5.6 million, 1,426 percent
258: BulkReefSupply.com, Golden Valley-Sells saltwater and reef aquarium supplies online, $3.9 million, 1,248.1 percent
318: Erickson Builders & Company, St. Michael-Commercial and residential contractor, $3 million, 1,038.2 percent
403: Modern Automotive Performance, Plymouth-Sells products to automotive performance enthusiasts and does engine machining, tuning, and metal fabrication, $9.2 million, 845 percent
413: iBuyOfficeSupply.com, Plymouth-Online retailer of office supplies and furniture, $4.6 million, 830.2 percent
419: Jobs2web, Minnetonka- Makes a recruiting platform that lets businesses promote job openings and attract candidates online, $9.9 million, 824.4 percent
439: MetroSpec Technology, Mendota Heights-Manufactures high-performance LED light circuits, $3.2 million, 794.6 percent
Jobs2web and MetroSpec were among last year's 500 fastest-growing private companies as well. At least 35 Minnesota companies have been included in the Inc. 500 list over the past five years, including seven last year and 13 in 2009.
New York-based online shopping site Ideeli topped the list, with a three-year growth rate of more than 40,000 percent. San Francisco-based Solazyme and New York-based C2C Outdoor came in second and third with growth rates of 20,424 percent and 17,744 percent, respectively.
Inc. magazine published its first list of the fastest growing U.S.-based private companies in 1981. Among this year's Inc. 500 honorees, 488 added jobs from 2007 to 2010, collectively generating 35,823 jobs over the period, according to the magazine.
Inc. on Tuesday released an expanded list containing the 5,000 fastest-growing private companies in the country-and that list includes 82 Minnesota companies.