Imagination Technologies/FRS Named to Inc. 5000's Exclusive List of America's Fastest Growing Private Companies
Imagination Technologies, the background screening industry’s technology leader, today announces that it has been named one of the 5000 fastest growing private companies in America by Inc. magazine. Imagination Technologies saw its sales nearly double over the last three years, growing by 95.5% and earning them a ranking of 2928 on the prestigious Inc. 5000 list, the preeminent ranking of privately held, independent companies in the US.
“We are extremely honored by this recognition for our company”, stated Phil Chapman, President of Imagination Technologies. “We are very blessed to have some of the top screening and research firms in the country as our clients. When combined with an excellent group of strategic partners and a top-notch in-house team, we have a large group of people and companies with which to share in this achievement.”
The 2009 Inc. 5000, unveiled today on Inc.com, serves as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact that private, fast-growing companies can have on the economy. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.
“Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate,” said Inc. 5000 project manager Jim Melloan. “That’s why our list is so eagerly anticipated every year.”
The Inc. 5000 is ranked according to percentage of revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they have to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2008. Revenue in 2005 must have been at least $200,000, and revenue in 2008 must have been at least $2 million.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (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 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.