Which companies are growing fastest in the Chicago area? Here are 50 on a roll: In our annual feature, which we’ve published since 2007, we identify the companies whose revenues are rapidly outgunning the rest. We start by profiling the top 10 firms to get an idea of what it took to make them grow; the other 40 are presented in list form. This list was produced with accounting firm Plante Moran. Click here to see how it was made. To apply to be on the 2020 list, click here.7072彩票开户 7073彩票地址 963彩票开户 7073彩票网址 689彩票邀请码 7073彩票注册 8炫彩彩票app 677彩票开户 7073彩票登录 66顺彩票app
To the swift go the spoils! Here's our annual ranking of the fastest-growing companies in the Chicago area, with a deep dive into the 10 fastest.
What it does: Online marketplace for music gear | 2018 revenue: $36.1 million | 5-year growth: 29,510.9% | Employees: 164 local, 180 total | Profitable: No | Location: Lakeview
79彩票注册网址Entrepreneurs find inspiration in "pain points"—irritations with things the way they are, that could be better.
David Kalt, who had been drawn to rock as a teenager, continually was irritated buying and selling musical gear on eBay and Craigslist. "The process, discovery and educational experience was limited," he says. Buyers paid full price while sellers had to accept steep discounts.
That frustration led Kalt to launch Reverb, a specialized site geared to musicians and collectors with detailed product descriptions, educational content, a price guide and a sorting mechanism. "By getting as much liquidity as possible, we reduced the bid/ask spread dramatically," Kalt says.
79彩票注册网址Since its start in 2013, Reverb's revenue has grown to $36.1 million, with a staff of 180 that includes team members in the United Kingdom, the Netherlands, France, Germany, Japan and Australia. The company has raised $47 million in several rounds of funding, including investments from Cheap Trick's Rick Nielsen and country star Brad Paisley.
It's the second time around for Kalt, who had a hit with online brokerage OptionsXpress, launched from an earlier pain point—annoyance with the limitations of online trading platforms.
79彩票注册网址This time Kalt had a track record, which made it easier to attract capital. Repeat investors include Summit Partners; Rod Levy, executive director at Code Platoon; and Lou Friedmann, executive vice president of marketing at M1 Finance.
"He scaled one business, and that experience lit the path at Reverb," says independent board member Adam DeWitt, chief financial officer at Grubhub, who worked with Kalt at OptionsXpress as vice president of finance and CFO.
79彩票注册网址Some aspects are proving more difficult—such as recruiting tech talent in a tight labor market. And Reverb won't enjoy the fat margins of OptionsXpress, which reached 60 percent pretax, Kalt says. Margins in the online music business are in the 20 to 30 percent range.
79彩票注册网址"There's still a big opportunity," DeWitt says. "Kalt's passion for music, his skill at developing products and an unmet market need all come together."7072彩票开户 7073彩票地址 963彩票开户 7073彩票网址 689彩票邀请码 7073彩票注册 8炫彩彩票app 677彩票开户 7073彩票登录 66顺彩票app