Ten South Dakota companies are among the fastest-growing in the nation, according to the annual Inc. 5000 list.
Companies on the Inc. 5000 for 2022 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S. based, privately held, for profit and independent — not subsidiaries or divisions of other companies — as of Dec. 31, 2021.
The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million.
Vanilla Bean Kings in Hartford is a repeat winner.
The South Dakota list included six new winners, four repeat winners from 2021, and others that dropped off.
Last year, SAB Biotherapeutics earned the state’s highest ranking ever at No. 129. It’s no longer eligible because it went public.
The 10 South Dakota companies that made the 2022 list are:
Combined, the South Dakota companies making the list had 340 percent median growth. They reported $274.7 million in total revenue and added 224 jobs.
It’s the 40th year the Inc. 5000 List has been published.
For Sioux Falls-based MarketBeat, this marks the seventh consecutive year of inclusion. The company reports it exceeded its annual revenue goal by $5.5 million last year, totaling more than $25 million, and grew top-line revenue by nearly 75 percent over the previous year. MarketBeat is approaching 3 million subscribers, despite challenging market conditions.
MarketBeat founder and CEO Matt Paulson credited the company’s strong execution, creation of new revenue streams and proprietary technology platform for its success.
“MarketBeat continues to innovate as we face the same economic headwinds others are experiencing with year-to-date declines in the stock market,” Paulson said. “During difficult market corrections, retail investors pay less attention to their stock portfolios and trade less often, and they aren’t using sites like MarketBeat as often as they do during a bull market. While traffic is noticeably down year over year, some of our industry partners are down 35 to 50 percent over 2021. In turn, we’ve excelled at maximizing ad revenue and anticipate growth to continue – even if the rate slows for the near term.”
For Sioux Falls-based Silencer Central, it’s the company’s first year on the list. For its story of growth, click below.
The making of an Inc. 5000 fastest-growing company
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Ten South Dakota companies are among the fastest-growing in the nation, according to the annual Inc. 5000 list.
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