Annual list of Utah's fastest-growing companies unveiled
The growth of Radiate Media apparently has a pretty long half-life.
For the second-straight year, the marketing provider was named the fastest-growing company in Utah by MountainWest Capital Network, a business networking organization.
It's the first time in the 19-year history of the awards that a company has won twice in a row, according to MWCN president Devin Thorpe.
"That is wild," Thorpe said. "It means they've had exceptional growth for a long time. â¦ To win this competition, generally, you've got to grow your business about 100-fold in five years."
Thorpe said almost 1,000 people showed up at the Grand America Hotel on Tuesday, highlighting the importance of the honored companies' roles in driving Utah's economic growth.
"When you think about the companies we're recognizing, these are the companies that are hiring," he said.
Headquartered in Salt Lake City, the name "Radiate Media" was born in 2011 after Matchbin acquired the broadcast media division of radio and television provider NAVTAQ, a Nokia subsidiary.
Radiate CEO Chris Rothey, who grew up in Ogden, says the company provides traffic, weather and news updates to outlets in exchange for advertising that they then sell to more than 6,000 businesses, both large and small. For smaller businesses, Radiate 360, provides an all-in-one platform to manage their website, social media and directories.
"We're kind of surprised," Rothey said of the award. "It hasn't been without challenges, and our challenges remain, but we're very honored to have such recognition."
MWCN measures growth over a five-year period. From 2007 to 2011, Radiate saw about a 10,000 percent increase, Rothey said. Then from 2011 to 2012, revenue increased another 200 percent.
"I'm not sure we'll pull it off again next year," he joked.
Also honored were the top-15 revenue growth companies and 14 "emerging elite." Huntsman Corporation showed the largest dollar amount growth, followed by Nu Skin Enterprises, Ancestry.com, Overstock.com and ZAGG.
"Even for a company as large as Huntsman, that's a big deal," Thorpe said. "There are a lot of companies on that list that are fast-growing companies."
2013 top revenue growth companies
The greatest dollar-amount growth from 2008-2012.
1 • Huntsman Corp.
2 • Nu Skin Enterprises
3 • Ancestry.com, Inc.
4 • Overstock.com, Inc.
5 • ZAGG Inc.
6 • Academy Mortgage
7 • USANA Health Sciences, Inc.Â
8 • Diamond Wireless
9 • Vivint, Inc.
10 • Merit Medical Systems, Inc.Â
11 • Myriad Genetics, Inc.Â
12 • Extra Space Storage, Inc.
13 • England Logistics
14 • LifeVantage, Corp.
15 • Ralph L. Wadsworth Construction Company, LLC
2013 top fastest-growing companies
The greatest percentage of revenue growth from 2008-2012.
1 • Radiate Media
2 • CampusBookRentals Inc.
3 • HireVue, Inc.
4 • EQUINOX Business Solutions
5 • LifeVantage Corp.
6 • Peak Capital Partners
7 • 3 Key Elements, Inc.
8 • The Ready Project
9 • ZAGG Inc
10 • ENVE
11 • Wadsworth & Sons III
12 • Property Solutions International, Inc.
13 • IntegraCore, LLC
14 • Academy Mortgage
15 • School Improvement Network, Inc.
2013 Emerging Elite
These 14 companies have less than five years of operation but more than two and show promise for future growth, according to MWCN.
• Apiary Fund
• Candlelight Homes
• GOAL ZERO, LLC
• Groopville Inc. DBA GroopDealz
• Henry Walker Homes
• Ingram Medical
• Jamberry Nails
• Method Communications
• Orabrush, Inc.
• Silencerco, LLC