Inc., the magazine “written for the people who run growing companies” recently released it’s annual ranking list of the country’s top 5,000 fastest-growing, private companies with an emphasis on the top 10 percent of the list—the ‘Inc. 500.’
“The 2011 Inc. 500|5000 is ranked according to percentage revenue growth from 2007 through 2010. To qualify, companies must have been founded and generating revenue by March 31, 2007. 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, 2010.
The minimum revenue required for 2007 is $100,000; the minimum for 2010 is $2 million. Revenue figures given in the company profiles are for calendar years, as are employee counts. Full-time and part-time employees are included in the employee counts; independent contractors are not.”
There’s a total of 82 companies listed from Minnesota, 17 of which we’ve identified as product-based technology companies (down from 20 last year).
E-commerce is well represented in Minnesota, as Bloomington-based ShopJimmy.com ranked 2nd overall in this market (#224/5,000), followed closely by BulkReefSupply.com (#258/5,000) and iBuyOfficeSupply.com (#413/5,000). The highest ranking Minnesota tech firm from last year (#226), Jobs2Web, remains in the top tier again, coming in at #419.
The information below provides a unique glimpse inside some of Minnesota’s fastest growing privately held high tech companies, according to Inc. Magazine:
| Company | Rank | 3 yr. growth | 2010 Rev | Employees | Founded | HQ |
|---|---|---|---|---|---|---|
| ShopJimmy | 224 | 1426% | $5.6m | 53 | 2007 | Bloomington |
| BulkReefSupply | 258 | 1248% | $3.9m | 16 | 2007 | Golden Valley |
| iBuyOfficeSupply | 413 | 830% | $4.6m | 8 | 2005 | Plymouth |
| Jobs2Web | 419 | 824% | $9.9m | 84 | 2003 | Minnetonka |
| MetroSpec Technology | 439 | 795% | $3.2m | 20 | 2001 | Mendota Heights |
| USI Wireless | 514 | 650% | $5m | 44 | 2000 | Minnetonka |
| WaterFilters.net | 576 | 566% | $10.3m | 25 | 2002 | Zumbrota |
| Code42 Software | 610 | 536% | $11.5m | 45 | 2001 | Minneapolis |
| Mspace | 1552 | 178% | $16.3m | 38 | 2002 | Minnetonka |
| Knowledge Marketing | 1746 |
153% | $5.8m | 27 | 2004 | Plymouth |
| OATI | 3632 | 44% | $51.1 | 280 | 1995 | Minneapolis |
| ImageTrend | 3759 | 40% | $11m | 118 | 1998 | Lakeville |
| Hanson Communications | 3832 | 38% | $27.9m | 101 | 1982 | Willmar |
| MedNet Solutions | 4085 | 30% | $11.2m | 48 | 2001 | Minnetonka |
| CotterWeb Enterprises | 4452 | 19% | $14.8m | 29 | 2000 | Mendota Heights |
| Video Guidance | 4821 | 8% | $9.1m | 27 | 1999 | Bloomington |
| Third Wave Systems | 4879 | 6% | $5.9m | 35 | 1995 | Minneapolis |
IT Services:
Horizontal Integration; Javen Technologies; The Nerdery; MileStone Systems; RBA Consulting; Intertech; BI Consulting Group; Trexin Consulting; Secure Connect; Saturn Systems; FishBowl Solutions; The Sartell Group
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