Atlanta, GA, Aug. 25, 2011 (GLOBE NEWSWIRE) -- Fueled by a 180 percent three-year growth in revenue, Purchasing Power announced today the company obtained a ranking of 1537 on the 2011 Inc. 5000, Inc.’s annual ranking of the fastest-growing private companies in America. This is the fourth consecutive year the company has appeared on the list.
Purchasing Power also ranked 54th on the list of top companies in the Atlanta Metro Area, 59th on the list of top companies in Georgia, and at 130th in the nation in the Business Products & Services category.
"Over the past few years voluntary benefits have become widely accepted by human resources professionals and benefits brokers," said Richard Carrano, Purchasing Power president. "Despite the challenges of the economic environment, we have been able to increase the number of employees participating in the Purchasing Power employee purchase program, and by placing emphasis on creating a positive customer experience, we have achieved a high rate of repeat customers."
Purchasing Power grew its revenue by 180 percent from 2007 to 2010 and expects to boost its revenue by another 36 percent in 2011. Since 2001, the company has generated nearly $600 million in total revenue, a compound annual growth rate of 235 percent. Additionally, Purchasing Power has more than tripled its workforce since 2006, from 47 to 145 employees.
Founded in 2001, Purchasing Power is the premier employee purchase program that helps consumers buy name-brand products such as computers, electronics and home appliances through payroll deduction. The company was also named a 2011 "Georgia Fast 40" company, and earned an Atlanta Business Chronicle Pacesetter Award earlier this year.
About Inc. 5000
The Inc. 500|5000 is a list of the fastest-growing private companies in the nation. The list debuted in 1981 as a ranking of the 100 fastest-growing private companies in the U.S. The following year, it expanded to the Inc. 500 and, in 2007, the Inc. 5000 was inaugurated. As an Inc. 5000 honoree, Purchasing Power shares a prestigious honor with some of the most successful private companies in America.
About Purchasing Power
Founded in 2001, Purchasing Power offers employers a voluntary benefit that has become the country's premier purchase program for employees. The Atlanta-based company has been tapped for the "fastest-growing" list by several leading business publications, including Entrepreneur and Inc. magazines. To date, Purchasing Power has serviced more than 500,000 orders from employees of leading companies and organizations across the U.S., including Fortune 500 and government agencies. Purchasing Power is licensed in all 50 states as a reseller of personal computers, consumer electronics, and home appliances and maintains relationships with major manufacturers, as well as resellers, distributors and other suppliers. For more information, visit www.PurchasingPower.com.