Leading Enterprise Collaboration Integrator Named #327 on List of Nation’s Fastest Growing Private Companies
HAUPPAUGE, NY – October 20, 2004 – IVCi, LLC (www.ivci.com), a leading integrator of enterprise collaboration solutions, including video conferencing, audio/visual, streaming, Web conferencing and managed conference services, announced today that it has been named one of America’s fastest growing privately held companies for the fourth consecutive year by Inc. magazine.
In this 23rd installment from Inc. magazine, IVCi ranks #327 for 2004 with a five-year sales growth from 1999 to 2003 of more than 200%. Since 1982, the year in which Inc. began publishing the list, only 11 companies from the state of New York have reached the Inc. 500 list four years in a row, and with this year’s ranking, IVCi becomes the only Long Island, New York-based company to have ever achieved this feat. IVCi continues to attribute its outstanding growth to the company’s unique ability to provide its customers with a truly managed enterprise collaboration environment, and its successful efforts in distancing itself from the pure hardware reseller model.
“Reaching the Inc. 500 list for the fourth consecutive year is truly a stellar accomplishment and I want to thank Inc. magazine for recognizing us over the years,” said Robert Swing, founder and chief executive officer of IVCi. “This award is a tribute to the continued loyalty of our customers, the support of our partners and the relentless dedication of our employees, whose talents and persistence throughout our near ten-year existence, have allowed us to achieve our goal of becoming a leader in the audio/visual and conferencing industries.”
“The best thing you can say about this year’s crop of Inc. 500 entrepreneurs is that they didn’t buy into the hype,” said Inc. editor-in-chief John Koten. “When people were practically giving away funding in the late 1990s, these companies didn’t overextend, and when everyone hit the panic button a few years later, they stayed calm and seized opportunity.”
The companies that made the 2004 list posted an average year-over-year sales growth of 265 percent. Inc. 500 companies posted aggregate 2003 revenue of $12.6 billion and 82 percent of them were profitable. Inc. companies provided employment for more than 70,000 persons.
Over the years, the Inc. 500 has identified the next generation of world-class companies. Former Inc. 500 companies include Microsoft, Oracle, CompUSA, Gateway, Timberland, E*Trade, Intuit, and Domino’s Pizza, all appearing on the list before they became industry powerhouses.
This year, California is the state with the most Inc. 500 companies (67). Florida is second, with 39 firms on the list, followed by Virginia (31), Texas (28), and New York (25). Like last year, Utah has the highest number of Inc. 500 companies per capita in the U.S with 6.8 per million residents-a distant second is Virginia with 3.9 per million residents.
For the second year in a row, Washington, D.C., is the top metropolitan area on the Inc. 500 with 29 companies, although it suffered a drop-off from last year, when it had 41. Boston is second, with 19 companies, followed by New York City (17), Miami (15), and Atlanta (14).
This year’s Inc. 500 is the first to reflect the tremendous start-up costs prevalent in the late 1990s economic boom. Of the Inc. 500 founders, 36% had start-up capital of less than $20,000, compared with 48% last year-and 21% reported needing more than $300,000 to get going, compared with only 14% last year. Just 7% of Inc. 500 CEOs reported using formal venture capital to start their company, compared with 2% last year, while 62% depended entirely on private equity.
Some 85% of Inc. 500 CEOs have an estimated net worth of over $1 million, with 39% pulling down an annual compensation of between $100,000 and $250,000. Also of note is that only 8% of Inc. 500 company founders are women.
The Inc. 500 special issue will appear on newsstands Oct. 26. From Oct. 20 to 31, only 50 of the Inc. 500 will be available for viewing at www.inc.com. The complete list will be available online beginning Nov. 1.
To be eligible for this year’s Inc. 500, companies had to be independent and privately held with an operating history of four years. Companies had to have minimum revenue of $200,000 in fiscal 2000 and at least $2 million in sales in 2003. In addition, 2003 sales had to exceed 2002 revenue. Inc. verifies all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.
IVCi, LLC (http://126.96.36.199/~ivcicom) is a leading integrator of managed enterprise collaboration solutions, including video conferencing, audio/visual, streaming, Web conferencing and managed conference services. From our headquarters in Long Island, New York, and branch offices in Atlanta, Chicago, Los Angeles, New Jersey, New York City, North Carolina, Salt Lake City, San Francisco, Sacramento and Washington D.C., IVCi makes conferencing and audio/visual solutions easy to use, easy to manage, and easy to afford.
IVCi proudly represents products and services from leading industry manufacturers including Polycom (NASDAQ: PLCM), TANDBERG (OSLO: TAA.OL), SAVVIS Communications (NASDAQ: SVVS), RADVISION (NASDAQ: RVSN), Centra Software (NASDAQ: CTRA), VCON (Nouveau Marché No. 022021), Codian, VBrick Systems, STARBAK Communications, Crestron Electronics, Extron Electronics, Clear One, and Lutron Lighting.
IVCi’s numerous awards include ranking in the Inc. 500 Fastest Growing Private Company list for 2001, 2002, 2003 and 2004, the Frost & Sullivan award for the Best New Video Conferencing Service for 2002, and recognition by Polycom, TANDBERG, and VCON as a top reseller.
Inc., the only business magazine dedicated exclusively to owners and managers of fast-growing private companies, delivers real solutions for today’s innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing and technology. Inc. is the premier publication that focuses on small-to-medium size businesses, which are responsible for more than half the nation’s gross domestic product and 75% of its new jobs. And Inc. looks beyond work to address the entrepreneurial lifestyle. Inc., a Gruner + Jahr USA publication, inspires and informs, with cutting edge coverage that reflects its readers’ energy, brashness and imagination.