This year’s Inc. 5000 list has been topped by a trio of software, smartphone accessory, and meal-kit delivery businesses with combined revenues of over $520 million.
The annual Inc. 5000 list identifies the fastest-growing private companies in the U.S. each year. 2018’s list of 5,000 companies boasts a total combined revenue of over $200 billion with three-year growth rates of up to 75,661%. This year’s top three companies are changing how America uses its smartphones, how it puts dinner on the table, and how companies transport their products.
“Some of the numbers are staggering,” says Jeffery Steven Stone, a New York City-based capital procurement specialist. “The top three companies on the list have all enjoyed upwards of 60,000% three-year growth, with the top two both exceeding 70,000%.”
Ranking third on the 2018 Inc. 5000 list is Home Chef, with a three-year growth rate of 60,166% and a 2017 revenue base of over $255 million.
Founded in 2013, Home Chef, the Chicago-based meal-kit delivery startup partners with professional chefs to develop quick and simple recipes. “Home Chef then delivers all of the necessary ingredients to customers across the U.S. in pre-portioned packets for ultimate convenience,” explains Stone. The company was acquired by Kroger in May 2018 for $200 million. Kroger is currently the largest supermarket chain by revenue in the U.S.
In second place on this year’s Inc. 5000 list is PopSockets. “PopSockets boasts three-year growth of 71,424% and a 2017 revenue of over $168 million,” Stone reveals. Founded following a 2012 Kickstarter campaign by a former philosophy professor, the collapsible $10 smartphone grip went on sale in 2014. The company has subsequently sold over 40 million units across the U.S. and worldwide, and currently employs over 100 staff.
PopSockets is expected to hit total sales of over 100 million units by the end of the year, according to Stone.
Taking the top spot on this year’s Inc. 5000 list is SwanLeap, a Wisconsin-based shipping software company. With a three-year growth rate of 75,661% and a 2017 revenue of $98.9 million, the business, which debuted on last year’s Inc. 5000 list, has climbed 54 positions to take first place. “Differentiating itself by relying on blockchain technology,” says Stone, “SwanLeap provides freight audits to improve inventory management within some of the country’s most successful companies.”
Under CEO Brad Hollister, the business has grown from just four employees to over 50 in only three years.
“This year’s Inc. 5000 companies amassed an incredible $206.2 billion in revenue in 2017. Between them, this represents an increase of 158% compared to just three years ago when the list totaled a comparatively modest, relatively speaking, $79.8 billion in revenue,” explains Stone.
“This serves to demonstrate,” he adds, wrapping up, “the extraordinary growth being experienced by private companies across the U.S. at the moment, and long may it continue.”
Jeffery Steven Stone is a Managing Partner at New York City-based Eurasian Capital, LLC, responsible for trading the firm’s proprietary capital. Further to overseeing the organization’s selection analysis and daily investment affairs, principal activities entail utilizing a platform of hedging strategies. These include quantitative-driven swing trading, covered call writing, and pair trading activity.