OAK BROOK, IL (August 17, 2009) -
vAuto has been named one of the fastest-growing, privately held companies in America by Inc. magazine in their annual Inc. 500 list. A provider of high-tech used car inventory management systems, vAuto ranked 22nd on the list overall and second among all software companies.
"We are very excited to be part of the Inc. 500 list," said Keith Jezek, vAuto's president and CEO. "We have experienced unprecedented growth in the face of significant industry challenges, due to the acceptance of vAuto's new approach to managing used vehicle operations. It is also a testament to the talent and hard work of our team, all of whom share a passion to help dealers achieve competitive dominance and record results in their used car market."
"If you want to know which companies are going to change the world, look at the Inc. 500," said Inc. editor Jane Berentson. "These are the most dynamic, fast-growth companies in the nation, the ones finding innovative solutions to problems, creating smart systems, and inventing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition."
Since 1982, businesspeople have eagerly sought out Inc.'s annual ranking of fastest-growing privately held companies in the U.S. The list gives readers insight in to the hottest trends and emerging themes in the evolving economy available nowhere else, the companies on the Inc. 500 have always been ahead of the curve.
The 2009 Inc. 500, unveiled in the September issue of Inc.
magazine (available on newsstands August 17 to November 15) and on Inc.com, reported aggregate revenue of $18.4 billion-up significantly from last year's $13.7 billion-and a median three-year growth rate of 880.5 percent. The companies on this year's list are also responsible for creating more than 55,000 jobs since their founding, making the Inc. 500 perhaps the best example of the impact private, fast-growing companies can have on the overall U.S. economy. The largest company on the list, flat-panel-TV maker Vizio, broke the $2 billion revenue mark. Complete results of the Inc. 500, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.
Despite the ongoing recession, the 2009 Inc. 500 offers a glimpse of the future of the U.S. economy. In the health sector, which saw aggregate revenue of $1.1 billion and a 917 percent median growth rate, businesses are moving forward on cancer and stem-cell research, clinical trials, and medication management. More than 25 percent of companies in the energy sector ($2.5 billion aggregate revenue; 942 percent median growth rate) focus on solar and other alternative sources. Fewer than a third of retailers ($356 million aggregate revenue; 914 percent median growth rate) have even a single brick-and-mortar store. And the number of companies providing technical services to the various branches of the federal government continues to rise.
About vAuto (www.vauto.com)
Headquartered in the Chicago suburb of Oak Brook, Ill., vAuto also maintains a research and development center in Austin, Texas. The company's "Live Market View" technology currently allows more than 2,000 dealers to manage their used-car inventories based on comprehensive supply-and-demand information mined by vAuto for their specific market area. Details on millions of pre-owned vehicles are maintained and updated on a daily basis within vAuto's database. The nation's five highest-volume franchised dealerships by brand currently use vAuto pricing, appraisal and stocking systems. The company's chairman and founder, Dale Pollak maintains a blog for the discussion of used-car trends at dalepollak.com
The 2009 Inc. 500 measures 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 had to be U.S.-based, privately held, for profit, and independent-not subsidiaries or divisions of other companies-as of December 31, 2008. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2005 is $200,000; the minimum for 2008 is $2 million.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc.
) 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. Visit us online at Inc.com