Globoforce Ranked No. 251 on 2008 Inc. 500 List of Fastest-Growing Private Companies in the U. S.
Three-Year Sales Growth of 1,041% Fueled by Increased Implementation of the Globoforce Strategic Recognition Platform within Global 2000 Corporations.
Southborough, Mass., and Dublin, Ireland (Vocus) August 21, 2008
Inc. magazine ranked Globoforce (http://www. globoforce. com/corporate/eng/) No. 251 (http://www. inc. com/inc5000/2008/company-profile. html? id=200802510) on its 27th annual Inc. 500 list of the fastest-growing private companies in the U. S. and No. 34 on its Top 100 Business Services Companies list. According to Inc., Globoforce has enjoyed an impressive track record of growth because "the company positioned itself as a global provider ahead of the curve and was in place and operational when clients recognized the need for a global focus." The Inc. 500 list, which was unveiled yesterday, is the most comprehensive look at the most important segment of the economy - America's independent-minded entrepreneurs.
Globoforce is the leading worldwide provider of strategic, on-demand employee recognition solutions (http://www. globoforce. com/corporate/eng/what-we-do/how-we-do-it. html). During the first two quarters of 2008, Globoforce signed several multi-million dollar contracts with Global 2000 companies and expanded several existing customer relationships with additional service deals. Seventy-five percent of Globoforce customers operating strategic recognition programs are listed on Forbes' Global 2000 and 50 percent are FORTUNE 500 corporations.
"The rapid adoption of Globoforce's strategic employee recognition solution by Global 2000 corporations based in both the U. S. and Europe continues to fuel our tremendous track record of growth," said Eric Mosley, CEO of Globoforce and a 2008 Ernst & Young Entrepreneur of the Year Award Finalist (http://www. globoforce. com/corporate/eng/news-and-events/press-releases/2008/06-05.html? KeepThis=true&TB_iframe=true&height=400&width=600). "We have found that many of the world's largest organizations realize that the proven business benefits of having a mechanism in place to recognize, inspire, motivate, retain and ultimately engage a global workforce is essential to their company's ongoing, profitable operation, particularly during this current challenging global economic environment."
"If you want to find out which companies are going to change the world, look at the Inc. 500," said Jane Berentson, Editor of Inc. "These are the most innovative, dynamic, fast-growing companies in the nation - the ones coming up with solutions to some of our knottiest problems, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition."
The 2008 Inc. 500, as revealed in the September issue of Inc. magazine, reported aggregate revenue of $13.7 billion and median three-year growth of 1,046%. Total sales for Inc. 500 companies were 14 percent below last year's combined revenue of $16 billion; still, it was a stellar year for many companies. Not only did sales for this year's top 50 growers outstrip those of last year's top 50 by $541 million, but this year's fastest 50 also boasted a staggering 47 percent jump in average three-year growth from last year's top of the class. Additionally, the 2008 Inc. 500 companies were engines of job growth, having created more than 51,414 jobs since those companies were founded.
"It is extremely encouraging to have our tremendous track record of growth validated by one of the most important and influential business publications in the industry," said Mosley. "We're thrilled that Globoforce has been recognized by Inc. alongside an impressive list of growing and thriving companies that are clearly working to drive a stronger and healthier economy."
Complete information on this year's Inc. 500, including company profiles and a list of the fastest-growing companies that can be sorted by industry and region can be found at www. inc5000.com.
The 2008 Inc. 500/5000 list measures revenue growth from 2004 through 2007. To qualify, companies must be U. S.-based and privately held, independent - not subsidiaries or divisions of other companies - as of December 31, 2007, and have had at least $200,000 in revenue in 2004, and $2 million in 2007.
Founded in 1999 and co-headquartered in Southborough, Massachusetts and Dublin, Ireland, Globoforce is the world's leading provider of on-demand, global, strategic employee recognition solutions for Global 2000 companies. Globoforce delivers an innovative, easy-to-use, on-demand software solution that engages employees across the globe, transforming the way enterprises motivate their workforce. Globoforce's blue-chip customer base, which includes Avnet, Dow Chemical, Global Crossing, Fairmont Hotels & Resorts, Intel, Intuit, Nortel, Procter & Gamble and Thomson Reuters, reflects the importance of recognizing and engaging the workforce in the 21st century. For more information, visit http://www. globoforce. com (http://www. globoforce. com) or visit the Company's blog at http://globoforce. blogspot. com/ (http://globoforce. blogspot. com/).
About Inc. magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures, LLC., Inc. magazine (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 724,110, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.
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Each year, Inc. magazine and Inc. com celebrate the remarkable achievements of today's entrepreneurial superstars - the privately held small businesses that drive our economy. The Inc. 500|Inc. 5000 Conference brings together members of the Inc. 5000 community - both a new class of Inc. 5000 honorees and the list's alumni - for three days of powerful networking, inspired learning, and momentous celebration. For the first time ever, this powerful networking event is open to all. Please join us September 18-20, 2008 at the Gaylord National Resort and Convention Center in Washington, D. C. For more information or to register, visit www. Inc500Conference. com or call us at 877-211-0489.