Fueled by a revenue increase of 42 percent from 2008 to 2009, Atlanta-based Purchasing Power LLC rose more than 550 places in the 2010 Inc. 5000. The list includes Inc.’s annual ranking of the fastest-growing private companies in America.
“We have been fortunate to achieve success despite the challenges of the economic environment.”
Purchasing Power placed 2,072 on the list in 2009 and moved up to 1,490 on this year’s list. Purchasing Power also ranked 48th on the Atlanta-Sandy Springs-Marietta, Georgia metro area list, an increase of 38 places.
“Purchasing Power has found a unique niche in a quickly growing industry,” said Richard Carrano, Purchasing Power president. “We have been fortunate to achieve success despite the challenges of the economic environment.”
Purchasing Power grew its revenue by 193 percent from 2005 to 2009 and expects to boost its revenue by another 39 percent in 2010. Since 2003, the company has generated more than $400 million in total revenue. Additionally, Purchasing Power has more than doubled its workforce since 2006, from 47 to 115 employees.
Founded in 2001, Purchasing Power is the premier employee purchase program that helps consumers buy name-brand products such as computers, electronics and home appliances through payroll deduction.
About Inc. 5000
Since debuting in 1991 with 100 of the fastest-growing private U.S. companies, then expanding the following year to the Inc. 500 and again in 2007 to the Inc. 5000, Inc. magazine’s list has highlighted the significant accomplishments of entrepreneurial companies. As an Inc. 5000 honoree, Purchasing Power shares a prestigious honor with some of the most successful businesses in America.