OAK BROOK, IL (August 27, 2010) – vAuto announces today the achievement of two company milestones. First, vAuto has surpassed the 3,000 dealer customer mark. Second, vAuto has been named on the 2010 Inc. 500 list as one of the nation’s fastest-growing, privately held companies in America.
At the end of its recently completed second quarter in 2010, vAuto’s unique dealership rooftop count totaled 3,093. These dealerships are successfully executing the Velocity Method of Management to maximize profits and grow their used vehicle operations and include many of the nation’s largest dealer groups and single point locations.
Further, vAuto ranked 10th in the software category and 125th overall on the 2010 Inc. 500 list with a three-year sales growth of 2,044%. This is the second consecutive year vAuto’s performance has been acknowledged on this prestigious list.
“We are proud to have achieved these important company milestones,” says Keith Jezek, vAuto’s President and CEO. “Surpassing the 3,000 customer mark is a tribute to our state-of-the-art inventory management solution. In addition, only 17% of participants received the distinction of being on the Inc. 500 list for both 2009 and 2010. I would like to congratulate the entire vAuto team on their passion and commitment to excellence. This is a very exciting time for our company.”
“Fast growth at any time is a big achievement; fast growth during the past few years is just short of miraculous,” said Inc. editor Jane Berentson. “The Inc. 500 consists of these just-short-of miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees, and grown fast in difficult economic times.”
The Inc. 500 list of the fastest-growing, privately held companies in the United States was introduced in 1982. The list provides a comprehensive look at the most important segment of the economy - America’s independent-minded entrepreneurs. The 2010 Inc. 500 offers a glimpse of the future of the U.S. economy. The health sector saw aggregate revenue of $1.1 billion. More than 25 percent of companies in the energy sector focus on solar and other alternative sources. Fewer than a third of retailers have even a single brick-and-mortar store. 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 at Inc.com/500.
Headquartered in the Chicago suburb of Oak Brook, IL, vAuto also maintains a research and development center in Austin, TX. vAuto’s innovative “Live Market View” technology allows dealers to manage their used-vehicle inventories based on actual supply-and-demand for their specific market. Today, more than 3,000 dealerships across the country use vAuto’s pricing, appraisal, stocking and merchandising systems. Dale Pollak, vAuto’s Founder and Chairman, is the author of two books featuring best practices and strategies for the used car department, Velocity: From the Front Line to the Bottom Line and Velocity 2.0: Paint, Pixels & Profitability. Additional information about vAuto is available at www.vauto.com.
Inc. 500 Methodology
The 2010 Inc. 500 is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. 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, 2009. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. The companies of the Inc. 500 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 712,647, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at www.inc.com.