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Chicago, IL: August 24, 2010: SingleHop, Inc. announced today that it has been ranked #58 in the 2010 Inc. 500 list, an annual listing of America's fastest-growing private companies compiled by Inc. Magazine. Chicago-based SingleHop, which provides dedicated servers and complex web hosting, is the top-ranked company in the Web hosting industry, third fastest growing IT Services company, and the second highest ranked Chicago business. The company's sales have grown by 3,895% in the last three years.
“We're beyond thrilled to be recognized with high placement in such a prestigious list as the Inc. 500,” said Zak Boca, President and Chief Executive Officer of SingleHop. “It's a reflection of all the hard work that everyone on our team has put in, and signifies that our commitment to service and innovation were the keys to success.” To be included in the Inc. 500 , a firm must demonstrate exceptional growth for a period of at least three years. SingleHop's inclusion as a top 100 firm exhibits tenacious determination to grow in spite of and through the current weak economic climate.
The company continues to set milestones, with the following highlights:
– Employee head count increased from 20 employees in 2009 to over 50 for 2010.
– EBITDA margins in excess of 40%
– Projected gross revenues of $13 million for 2010
– Ending 2010 with projected annualized revenues of $20 million
– #1 Fastest Growing Web Hosting Company in Inc. 500 list
– #2 Fastest Growing Company Award in Chicago Award by Inc Magazine
– #3 Fastest Growing Company Award in IT Services by Inc Magazine
The firm is positioned for continued growth, having recently launched Cascade, SingleHop's cloud computing platform. “Like many of our innovative products, Cascade will undoubtedly play a significant role in our future growth. Cascade is a simple product that is added to on top of a dedicated server, yet offers advanced cloud hosting benefits. It's a simple concept, with a simple pricing model, which we feel is important in the cloud computing space.” says Zak Boca.
About 2010 Inc. 500
The INC 500 list is produced by INC magazine and features the 500 fastest growing businesses in America. In order to qualify, companies must have been founded and generating revenue by the first week of 2006, and therefore able to show four full calendar years of sales. Additionally, they had to be U.S.-based, privately held, for profit, and independent-not subsidiaries or divisions of other companies-as of December 31, 2009. www.inc.com
About SingleHop, Inc.
SingleHop, Inc., is a full-service managed dedicated hosting provider that was founded on the principal of providing reliable, cost-effective, dedicated servers. The company was founded by Zak Boca and Dan Ushman in 2006 and currently hosts thousands of websites from around the world. The cornerstone of SingleHop's managed hosting is its a la Carte Server Management Program, a full array of transparent management services designed and tested to allow business customers to tailor their level of support to their needs or expertise. www.singlehop.com
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