Inc. magazine has ranked Miami-based LATINMEDIOS.COM NO. 709 on its 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-minded entrepreneurs.
The leaders of LatinMedios.com, part of this year’s Inc. 5000, have figured out how to grow their business during the longest recession since the Great Depression.
“The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs,” said Inc. president Bob LaPointe. “It could not be a better time to be in the Digital Advertising business and more specifically, to be serving the US Hispanic market; we are extremely proud of this recognition, and even prouder because it comes at a time when the US economy is facing a very hard time…” said Joel Bary, LatinMedios.com’s CEO.
The 2010 Inc. 5000, unveiled on Inc.com, serves as a unique illustration of the profound changes taking place in the U.S. economy. The Government Services sector showed the biggest gain in terms of the number of companies on the list, up 33 percent from last year to 335 companies. The fastest-growing sector by median revenue growth was Real Estate, now just a tiny group of 38 young, small companies, which showed 231 percent median growth over the period. Business Products & Services is the top industry by number of companies on the list (640) and total revenue ($80.7 billion), while Health is the biggest by total employment (287,726 jobs).
Despite the fact that most of this year’s measuring period of 2006-2009 took place during the latest recession, aggregate revenue among the companies on the list actually increased to $321.6 billion, up more than 50 percent from last year. The effects of the recession are seen, however, in the median three-year growth rate, which dropped to 96 percent from last year’s 126 percent. This year’s Inc. 5000 employ a record 1.4 million people, up from one million on last year’s list. With unemployment remaining stubbornly high, policymakers and business leaders will do well to look to the Inc. 5000 companies for fresh ideas on achieving growth and creating jobs.