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Magnetic Earns a Rank on Inc. Magazine's Exclusive List of America's Fastest-Growing Private Companies
Aug 24, 2010 (06:08 PM EDT)
TAMPA, Fla., Aug. 24 /PRNewswire/ -- Inc. magazine today ranked Magnetic No. 2713 on its fourth annual Inc. 5000, an 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. Magnetic, a web design and internet marketing firm, ranks among prominent brands on this year's list including music website Pandora, convenience store chain 7-Eleven, Brooklyn Brewery and Radio Flyer.
"Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate," said Inc. 5000 project manager Jim Melloan. "That's why our list is so eagerly anticipated every year."
Magnetic's continued growth, despite the tough economic climate, is attributed to the company's ability to stay at the forefront of technology and provide an excellent work environment for employees. Magnetic's talented staff continues to evolve their skills as the need for web development, design and marketing expands. Hot topics that the team has trained and become experts in over the last few years includes: SharePoint, Mobile Websites and Social Media Marketing.
Magnetic also fuels their growth by continuing to be an active member in the Tampa community. The Magnetic team regularly appears at local events and donates time to charity organizations. "Employee satisfaction and motivation is what drives our company to be a leader in web technologies," says Jennifer Bakunas, President and CEO of Magnetic. "We are honored to be on this list that proves how our work as a team has produced great results."
The 2010 Inc. 5000, unveiled today on Inc.com, serves as a unique report card on the U.S. economy. This year's Inc. 5000 employ a record 1.4 million people, up from one million on last year's list, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy. Complete results of the Inc. 5000, including company profiles and an interactive database can be found on Inc.com.
The 2010 Inc. 500|5000 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 based in the United States, 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 top 10 percent of companies on the list constitute the Inc. 500, now in its 29th year.
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 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at Inc.com.
Based in Tampa, Fla. and founded in 1997, Magnetic is a full-service web design and development firm that helps businesses reach their full web potential through strategic consulting, custom web design and development, e-commerce solutions, database integration, content management, systems integration, internet marketing and hosting. Named the 2007 Small Business of the Year by the Greater Tampa Chamber of Commerce, Magnetic offers both business and technical expertise to help medium- and large-size businesses achieve greater profitability and sales through the Internet. For more information on Magnetic, please visit www.magnetic.com.