Inc. Magazine Unveils Its Annual Exclusive List of America’s Fastest-Growing Private Companies—the Inc.500|5000
FOR RELEASE: August 23, 2011
Coolerado Ranks No. 652 on the 2011 Inc. 500|5000
NEW YORK, August 23, 2011 — Inc. magazine today ranked Coolerado No. 652 on its fifth annual Inc. 500|5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. Online retailer ideeli tops this year’s list. Coolerado joins Spirit Airlines, television maker Vizio, Honest Tea, Dunkin Donuts among other prominent brands featured on this year’s list.
In a stagnant economic environment, median growth rate of 2011 Inc. 500|5000 companies remains an impressive 94 percent. The companies on this year’s list report having created 350,000 jobs in the past three years, and aggregate revenue among the honorees reached $366 billion, up 14 percent from last year.
“We are very honored to be recognized by Inc Magazine as one of the fastest growing companies,” said Mike Luby, CEO of Coolerado. “We have expanded our employee base by 79 percent in the last year and now have products in 26 different countries.”
Inc is just the latest publication to take note of Coolerado’s success. R&D Magazine recognized the Coolerado air conditioner as one of the most technologically significant products introduced into the marketplace. And editors at Popular Science hailed Coolerado in its annual “best of what’s new” saying, “Coolerado’s rooftop air conditioner handles dry weather more than twice as efficiently as anything else, cutting energy consumption in the hottest, most AC-dependent desert areas.”
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 at www.inc.com/5000.
The 2011 Inc. 500 is ranked according to percentage revenue growth when comparing 2007 to 2010. To qualify, companies must have been founded and generating revenue by March 31, 2007. Additionally, they had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2010. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2007 is $100,000; the minimum for 2010 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at www.inc.com/500.
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 710,106, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at www.inc.com.
Coolerado manufactures and markets innovative air conditioning systems for commercial, government, and military use. Based on its proprietary, patented, and proven technology our products use as little as 10 percent of the energy required by the most efficient conventional systems. Coolerado products dramatically reduce customers’ energy consumption, while creating a healthier environment by delivering 100 percent fresh air and flushing out stale air and pollutants.