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Inc. magazine revealed on August 12, 2020 that FarWell is No. 2606 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies.
This is FarWell’s fourth year receiving recognition as one of the fastest growing companies in the nation, a feat shared by only one in thirteen of companies that have applied over the years. Read last year’s FarWell Inc. 5000 announcement.
The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
“We are thrilled to have earned a spot on the Inc. 5000 list with so many other innovative, successful companies. At our core, FarWell is a team of humble, collaborative advisors who love solving problems, accomplishing ambitious goals, and delivering meaningful client experiences. Our Core Values—Humility, Collaboration, Accountability—shape our behaviors and transcend every facet of our business – how we work with our clients, how we work with one another and how we make business decisions. Each of these values foster trust, which lies at the heart of our culture.”– Jason Potter, FarWell Co-Founder & CEO
Not only have the companies on the 2020 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists as well. The 2020 Inc. 5000 achieved an incredible three-year average growth of over 500 percent, and a median rate of 165 percent. The Inc. 5000’s aggregate revenue was $209 billion in 2019, accounting for over 1 million jobs over the past three years.
The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on the Inc. website. The top 500 fastest growing companies are also being featured in the September issue of Inc., available on newsstands August 12.
“The companies on this year’s Inc. 5000 come from nearly every realm of business,” says Inc. editor-in-chief Scott Omelianuk. “From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism.”
The annual Inc. 5000 event honoring the companies on the list will be held virtually from October 23 to 27, 2020. As always, speakers will include some of the greatest innovators and business leaders of our generation.