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San Diego, Calif. - October 8, 2002 SmartDraw.com,
the leading provider of easy-to-use business graphics
software, announced today that it's been named one of
America's fastest-growing private companies by Inc Magazine.
The "Inc 500" list ranks the nation's top entrepreneurial
firms according to sales growth over the past five years.
SmartDraw.com grew approximately 464% in the past five
years.
"We're thrilled to have made the Inc 500 for the
first time," said Paul Stannard, SmartDraw.com CEO.
"It's an extremely prestigious ranking and we're
delighted to be included. It proves that our careful attention
to detail and our dedication to producing great software
is really paying off."
SmartDraw.com is one of only ten San Diego companies that
made this year's list. The ranking will appear in the
magazine's special Inc 500 issue, which hits newsstands
October 15.
Despite the technology bust, "Computer Software &
Services" remains the leading industry category on
the Inc 500 list, representing nearly 40% of the firms
on the list.
For SmartDraw.com, the Inc 500 honor comes on the heels
of the Deloitte & Touche Technology Fast 50 Award,
which ranks the 50 fastest-growing technology companies
in San Diego/Orange County. SmartDraw.com snagged the
#34 spot, up from #40 last year.
About SmartDraw.com
SmartDraw.com was founded in 1994 with a simple goal in
mind: to help business people Draw Anything Easily. SmartDraw.com
quickly rose to become the leading provider of easy-to-use
business graphics software. The SmartDraw program allows
users to draw diagrams for business, technical, and leisure
applications with the help of thousands of ready-made
images and templates. SmartDraw.com's newest product,
SmartDraw Photo, applies the same user-friendly principles
to digital photography, allowing customers to enhance,
print, and share digital photos quickly and easily.
SmartDraw.com draws more than 1.5 million visitors each
month, putting it in the top 0.1% of most visited websites
on the Internet. Recognized by Inc Magazine as one of
the fastest growing companies in America, SmartDraw.com
also offers French, German, and Japanese versions that
are carrying the SmartDraw revolution around the world.
Privately held by its founders and employees, with no
debt and no outside funding, SmartDraw.com continues to
enjoy a rocketing annual growth rate and a profitable
bottom line. For more information, please visit www.smartdraw.com.
About the Inc 500 and Inc Magazine
Started in 1982, the Inc 500 has recognized many companies
that have quickly rose to become household names, such
as Microsoft, Timberland, Domino's Pizza and Patagonia.
To be eligible for this year's Inc 500, companies had
to be independent and privately held through their fiscal
year 2001, have at least $200,000 in sales in the base
year of 1997, and 2001 sales had to have exceeded 2000
sales. Holding companies, regulated banks and utilities
are not eligible. Inc verifies all information using tax
forms and financial statements from certified public accountants
and by conducting interviews with company officials.
The average five-year growth rate of this year's Inc 500
companies is 1,521%. While that is less than the 1,933%
average for companies on last year's list, it is nonetheless
dramatic in the current environment. Average 2002 sales
for the Inc 500 dropped only slightly, from $24,976,000
to $24,706,000. More than two-thirds (73%) of 2002 Inc
500 companies are profitable.
Inc, the premier magazine for growing companies, may be
accessed online at www.inc.com.
The magazine is owned by Gruner +Jahr USA, one of the
top-ranked magazine publishers in the U.S., reaching one
of the largest readerships in America. In addition to
Inc, Gruner +Jhr USA publishes Child, Family Circle, Fast
Company, Fitness, parents, and YM. G + J USA is 25.1%
owned by the Jahr Group and 74.9% owned by Bertelsmann
AG, the largest privately held and the fifth largest media
company overall in the world with yearly revenues at $17.86
billion.
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