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24 August 2010, Carbonite.com Press Release
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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.
"When 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."
Today's 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 2010.
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.
Methodology
The 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.
About Carbonite
Carbonite revolutionized the market
for consumer and small-business backup
services with its industry-first
offering of unlimited online backup for
a low, flat price. Since 2006, the
company has backed up more than 80
billion files and has restored more than
7.2 billion lost files for its
million-plus 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 200 million files every day to
high-redundancy storage servers in its
Boston and Somerville, Mass., data
centers.
The Carbonite mission is to provide a
simple, affordable, and secure backup
and "anytime, anywhere access" solutions
for the mainstream computer user.
Carbonite supports both the Windows and
Mac platforms. |
