Inc. Magazine’s list of the 5,000 fastest-growing private companies was released this week, and 18 Idaho businesses made the cut.
To qualify, companies apply by providing relevant financials and a general description of their business.
Some familiar companies that frequent these kinds of rankings were again included. Scentsy ranks 516, Balihoo ranks 853 and Pita Pit ranks 4,256.
Four newcomers to the list
are based in Idaho. Lucky Bums makes outdoor recreation gear for kids. The Boise-based company made $3.4 million last year and is expected to grow by more than 600 percent in the next three years. Husband-and-wife team Jeff and Julie Streeter founded the company in 2004 . It currently has 12 employees.
Jeff Streeter says he has often considered applying for the magazine’s annual ranking, but has never before made the cut.
“And to come that close to the top 500, we were really pleased with the results,” Streeter says.
Streeter says Lucky Bum products are sold in national chains like Cabelas and REI, as well as local retailers like McU Sports in Boise. He says all of their product manufacturing currently happens overseas, but this summer the company started a pilot project making wooden sleds in Idaho.
Another list-newcomer is ClickShops. The web-based Sandpoint business helps customers locate hard-to-find products. The company has 11 employees and brought in $7.8 million last year. Inc. Magazine projects the business will grow 218 percent over the next three years.
Greek yogurt maker Chobani is also featured on Inc. Magazine’s ranking. While the company is
based in Norwich, New York, it is in the process of building its second manufacturing facility in Twin Falls, Idaho. Chobani almost broke into the top 100. Ranked 117, the yogurt maker made $633 million last year and is expected to grow 2,662 percent in the next three years. This is the first year Chobani ranked on Inc.’s list.