Online Backup Provider Ranks No. 1 in IT Services and Boston-based Businesses
NEW YORK, August 24, 2010 -- Inc. magazine today ranked Carbonite No. 9
on its 29th annual Inc. 500, 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. Companies such as
Microsoft, Zappos, Intuit, GoDaddy, Zipcar, Clif Bar, American Apparel,
Oracle, and many other well-known names gained early exposure as members
of the Inc. 500.
"Fast growth at any time is a big achievement;
fast growth during the past few years is just short of miraculous," said
Inc. editor Jane Berentson. "The Inc. 500 consists of these
just-short-of miraculous companies, the ones that through ingenuity and
ambition have increased revenue, hired employees, and grown fast in
difficult economic times."
Along with an overall No. 9 ranking in
the Inc. 500, Carbonite also secured a No. 1 ranking in the IT Services
category and a No. 1 ranking among Boston-based businesses for the 2010
Inc. 500. The company launched its online backup service in 2006 and
has raised more than $76 million in several rounds of venture financing.
my business partner, Jeff Flowers, and I decided to start an online
backup company after his wife’s laptop was stolen, we never dreamt it
would grow so rapidly," said David Friend, CEO and co-founder of
Carbonite. "We’re thankful for our team and all of our customers who
believed in our simple and secure online backup service. It is an honor
to be ranked No. 1 within the IT services category and Boston-based
businesses, and No. 9 amongst all privately-held American businesses."
Inc. 500 rankings are the latest in a string of accolades Carbonite has
received in 2010, including the Tech Awards Circle Gold Award for
consumer/small office, home office (SOHO) service category, ranking No. 6
in the 2010 Boston Business Journal: Best Places to Work and a finalist
selection in the Red Herring 100 North America list. Several members
of the Carbonite executive team have been honored recently as well. CEO
and Co-Founder David Friend was named the Ernst & Young
Entrepreneur of the Year winner for New England in the Consumer and
Small Business Emerging Technology category, while CTO and Co-Founder
Jeff Flowers was named CTO of the Year by the Massachusetts Technology
Leadership Council. CFO Andrew Keenan was honored by the Boston Business
Journal as a 2010 CFO of the Year and Swami Kumaresan, vice president
of marketing, was selected as a Boston Business Journal 40 Under 40 in
The 2010 Inc. 500, unveiled in the September issue of Inc.
magazine (available on newsstands August 24 to November 16 and on
Inc.com), is a group of companies that are smaller but much
faster-growing than last year’s crop. Aggregate revenue is $11.3
billion—down from last year's $18.4 billion—but median three-year growth
is 1,231 percent, substantially up from last year’s 880.5 percent. The
companies on this year's list employ more than 45,000 people. Complete
results of the Inc. 500, including company profiles and an interactive
database that can be sorted by industry, region, and other criteria, can
be found at www.inc.com/500.
2010 Inc. 500 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
U.S.-based, 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 companies of the Inc. 500 represent the top
tier of the Inc. 5000, which can be found at www.inc.com/500.
Carbonite industry-first offer of unlimited online backup service for a
flat, low price revolutionized the market for consumer and small
business backup services. Since 2006, the company has backed up more
than 69 billion files and has restored more than 6.1 billion lost files
for its customers. Carbonite, which was ranked No. 9 overall and No. 1
in IT Services in the Inc. magazine 2010 Inc. 500 listing, backs up more
than 150 million files every day to high-redundancy storage servers in
its Boston and Somerville, Mass. data centers.
mission is to provide a simple, affordable, and secure backup solution
for the mainstream computer user. Carbonite supports both the Windows
and Mac platforms. Carbonite is available directly at
www.carbonite.com, and through international distributors. For more
information, please visit www.carbonite.com, or follow us at twitter.com/carbonite and facebook.com/CarboniteOnlineBackup.
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
712,647, Inc. provides hands-on tools and market-tested strategies for
managing people, finances, sales, marketing, and technology. Visit us
online at www.inc.com.
About the Inc. 500|5000 Conference
year, Inc. and Inc.com celebrate the remarkable achievements of today’s
entrepreneurial superstars—the privately held small businesses that
drive our economy. The Inc. 500|5000 Conference & Awards Ceremony
brings together members of the Inc. community, both a new class of Inc.
500|5000 honorees and the list’s alumni, for three days of powerful
networking, inspired learning, and momentous celebration. Please join us
September 30–October 2, 2010, at the Gaylord National Resort and
Convention Center in National Harbor, Maryland, located minutes from
downtown Washington, D.C. For more information about the 2010 Inc.
500|5000 Conference & Awards Ceremony and to register, visit www.inc500conference.com