NEW YORK, Aug. 28 /PRNewswire/ -- Inc. magazine ranked CPO Commerce No. 2 in the retail industry and No. 41 overall on its 27th annual Inc. 500 list of the fastest-growing private companies in the U.S. The list is the most comprehensive look at the most important segment of the economy -- America's independent-minded entrepreneurs. Companies such as Zappos, Intuit, GoDaddy, Under Armour, Jamba Juice, American Apparel, Oracle and hundreds of other powerhouses gained early exposure as members of the Inc. 500.
"If you want to find out which companies are going to change the world, look at the Inc. 500," said Inc. Editor Jane Berentson. "These are the most innovative, dynamic, fast-growing companies in the nation -- the ones coming up with solutions to some of our knottiest problems, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition."
Founded in 2003, CPO Commerce works with manufacturers in the home improvement industry to establish branded online outlet stores to sell new, reconditioned and closeout products. The company brings creative online selling solutions to its 20 brand partners including Bosch, Milwaukee, Makita, Porter Cable, Delta Woodworking, DeWALT, Skil, Festool, Metabo, Electrolux, Stanley Bostitch, Campbell Hausfeld, Powermatic and Karcher. CPO Commerce also delivers an unrivaled customer service experience and value to end consumers.
"We are thrilled to see that Inc. has identified CPO as the 2nd fastest-growing privately-held retailer in the U.S.A. Our employees should be very proud of their accomplishments. We hope to continue to grow rapidly as CPO offers tremendous value to its brand partners and customers," stated CPO Commerce Founder, President and CEO Rob Tolleson.
CPO Commerce has assembled a strong team with broad experience in E-Commerce, technology, marketing, operations and fulfillment. "We are excited for the employees who have all worked so hard over the last 4 years to manage this explosive growth and retain an entrepreneurial energy," said David Schofman, an Austin, TX based CPO Board member and former SVP of Global E-Commerce with Callaway Golf. "We have only just begun this journey and I am certain CPO's rapid growth will continue." In fact CPO recently more than doubled the size of its distribution center in Atlanta, GA to 67,000 sf and will commence fulfillment operations on the West Coast soon. CPO's Board is rounded out by CPO Commerce Founder & CEO, Rob Tolleson, and Steve Hicks, Chairman of Austin, TX based Capstar Partners, LLC.
The 2008 Inc. 500, as revealed in the September issue of Inc. magazine (on newsstands August 26 - September 30), reported aggregate revenue of $13.7 billion and median three-year growth of 1,046%. Total sales for Inc. 500 companies were 14 percent below last year's combined revenue of $16 billion; still, it was a stellar year for many companies. Not only did sales for this year's top 50 growers outstrip those of last year's top 50 by $541 million, but this year's fastest 50 also boasted a staggering 47 percent jump in average three-year growth from last year's top of the class. Additionally, the 2008 Inc. 500 companies were engines of job growth, having created more than 51,414 jobs since those companies were founded.
Complete information on this year's Inc. 500, including company profiles and a list of the fastest-growing companies that can be sorted by industry and region can be found at http://www.inc5000.com/.
Hottest Regions for Fastest-Growing Companies
Once again California tops the Inc. 500 list with the most companies of any state, 78, down three from last year. Of California's 78 companies, 43 call Southern California home. The Los Angeles area alone accounts from 66 percent of the state's $3.5 billion in Inc. 500 revenue.
The surge in oil and a booming tech sector are driving growth in Texas, which is home to 43 Inc. 500 companies this year. The Lone Star state is second only to California and ties Southern California by adding five more companies. The Austin metro area is Texas's hottest, with 7.5 Inc. 500 companies per million residents.
Georgia jumped from eighth last year to third with 31 businesses on the list (up from 20 last year). Georgia also benefits from the port of Savannah, the country's fastest-growing container terminal. New York comes in fourth with 29 companies on the list, followed by Illinois and Virginia tied for fifth, both with 27 Inc. 500 companies.
The Washington, D.C. metro area boasts 39 Inc. 500 companies, making it the top metropolitan area for the sixth consecutive year. New York City is a close second, with 31 (down seven companies from last year), followed by Atlanta with 29 companies (adding nine companies this year), Chicago has 27 companies (eleven more companies than last year), and Los Angeles with 26 (up one company).
Hottest Industries for Fastest-Growing Businesses
The most notable median growth categories among Inc. magazine's list of the 500 fastest-growing businesses is in the Food & Beverage category (which grew by 2,626.8 percent on average), followed by Real Estate (which grew by 1,817.4 percent on average), Financial Services (which grew by 1,638.6 percent on average), Government Services (which grew by 1,277.9 percent on average), and Advertising & Marketing (which grew by 1,189.1 percent on average).
The largest business category is IT Services, with 67 Inc. 500 companies. Business Services (59 companies), Advertising & Marketing, and Government Services (35 companies each), and Software (28 companies) round out the top five industries ranked on the 2008 Inc. 500.
Industries reporting the highest total revenue from 2004 to 2007 are Computers & Electronics ($2.1 billion), Energy ($1.3 billion), Government Services ($1.2 billion), IT Services ($974.2 million), and Real Estate ($909.3 million).
Methodology
The 2008 Inc. 500/5000 list measures revenue growth from 2004 through 2007. To qualify, companies must be U.S.-based and privately held, independent -- not subsidiaries or divisions of other companies -- as of December 31, 2007, and have had at least $200,000 in revenue in 2004, and $2 million in 2007.
Companies can apply for next year's Inc. 500/5000 by registering with "IncBizNet, Business Network for Private Companies," at http://www.incbiznet.com/.
4,500 Reasons to Quash Your Recession Fears
Last year we celebrated the 26th anniversary of the Inc. 500 by expanding the list tenfold, creating the first-ever Inc. 5000. Complete results of the Inc. 5000 can be found at http://www.inc5000.com/, where you can scan profiles of honorees, view lists of the fastest-growing companies by industry and region, and sort the data according to your own parameters.
About Inc. magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures, LLC., Inc. magazine (http://www.inc.com/) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 724,110, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.
About Inc. 500|Inc. 5000
Conference Each year, Inc. magazine and Inc.com celebrate the remarkable achievements of today's entrepreneurial superstars -- the privately held small businesses that drive our economy. The Inc. 500|Inc. 5000 Conference brings together members of the Inc. 5000 community -- both a new class of Inc. 5000 honorees and the list's alumni -- for three days of powerful networking, inspired learning, and momentous celebration. For the first time ever, this powerful networking event is open to all. Please join us September 18-20, 2008 at the Gaylord National Resort and Convention Center in Washington, D.C. For more information or to register, visit http://www.inc500conference.com/ or call us at 877-211-0489.
About CPO Commerce
CPO Commerce partners with manufacturers of leading brands in the home improvement industry to establish, develop, and operate online outlet stores for new, closeout, discontinued, excess and refurbished products. CPO's branding and merchandising strategies enable manufacturers to generate improved return on assets while preserving brand and pricing integrity in the market. For more information, please visit http://www.cpocommerce.com/ or http://www.cpooutlets.com/.
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