Inc. Magazine’s Annual Listing Recognizes Fastest-Growing Private Companies in America
Purchasing Power, the leading e-commerce employee purchase program offering consumer products and services as a voluntary benefit at the workplace, today announced it has obtained a ranking of #4547 on the 2017 Inc. 5000 annual listing of the fastest-growing private companies in America.
This is the tenth consecutive year the company has appeared on the list, which makes Purchasing Power one of the 98 companies who have appeared at least ten times on the Inc. 5000 list. Purchasing Power also ranked #207 on the list of top companies in the Atlanta Metro Area, #218 on the list of top companies in Georgia, and #419 in the nation in the Business Products & Services category. Compared to previous years, Purchasing Power’s ranking rose from #4630 in 2016 and #4640 in 2015.
“Purchasing Power is celebrating being part of the 10X Club—fewer than two percent of Inc. 5000 honorees have ever achieved this milestone. This honor certainly validates that Purchasing Power is providing an important voluntary benefit that is a way to reduce employee financial stress as well as improve job satisfaction and retention,” said Richard Carrano, Purchasing Power CEO.
As a pioneer in the concept of an employee purchase program, Purchasing Power has grown from providing a new kind of voluntary benefit to being the industry leader as well as a proven promoter of financial wellness. Available to millions of people as a voluntary benefit at organizations with 1,000+ employees or members, Purchasing Power is offered across more than 20 industry sectors. Since its inception in 2001, Purchasing Power has processed nearly $2.5 billion in orders through the convenience of payroll deduction.
Inc. 5000 Methodology
The 2017 Inc. 5000 is ranked according to percentage revenue growth when comparing 2013 to 2016. To qualify, companies must have been founded and generating revenue by March 31, 2013. They had to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2016. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2013 is $100,000; the minimum for 2016 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 http://www.inc.com/5000.