PHILADELPHIA, Aug. 25, 2010 (GLOBE NEWSWIRE) -- ProfitPoint, Inc., a leading provider of stored value card services, today announced that the company was named to the distinguished Inc. 5000 list, a compendium of the most entrepreneurial and fastest growing companies in America. This is ProfitPoint's third consecutive year earning this achievement. The company first appeared on the list in 2008 with an astounding debut at number 59. This was due to extraordinary growth of 2,642% between 2005 and 2007. In 2009, ProfitPoint ranked number 1013 with growth of nearly 400%.
ProfitPoint CEO Vaden Landers commented on the award, "It is a great honor to once again be recognized by Inc. Magazine as one of the country's fastest growing privately-held companies. In spite of the many challenges faced over the course of the last several years in what could be the worst economic environment our country has ever experienced, ProfitPoint found a way to not only survive, but to continue the strong year-over-year growth we have realized since starting the business in 2003." Landers went on to say, "This achievement is possible because of the clients all across the country who rely on ProfitPoint for the technology required to facilitate their stored value gift & loyalty card programs within their business. Further, it is possible because of the dedicated and hard working employees who commit themselves to our success and that of our customers, each and every day."
This year, ProfitPoint placed in the top third of the list at number 1379 with an impressive three year growth rate of 210%.
In addition, ProfitPoint ranked number 72 on the list for the financial services industry and number 31 in the Philadelphia metro area.
Despite the fact that most of this year's measuring period of 2006-2009 took place during the latest recession, aggregate revenue among the companies on the list actually increased to $321.6 billion, up more than 50 percent from last year. The effects of the recession are seen, however, in the median three-year growth rate, which dropped to 96 percent from last year's 126 percent. This year's Inc. 5000 employ a record 1.4 million people, up from one million on last year's list. With unemployment remaining stubbornly high, policymakers and business leaders will do well to look to the Inc. 5000 companies for fresh ideas on achieving growth and creating jobs.
About ProfitPoint, Inc.
ProfitPoint, Inc. is a leading provider of gift and loyalty card programs to small-to-medium sized businesses. Recognized by Inc. Magazine's list of 500/5000 fastest growing private companies for three consecutive years, ProfitPoint debuted at # 59 in 2008. With its corporate headquarters near Philadelphia, PA, and customer care center in Franklin, TN, ProfitPoint supports its gift and loyalty cards with real-time electronic transaction processing, state-of-the-art reporting, point-of-purchase marketing tools and direct marketing services. ProfitPoint excels in the design and production of custom gift and loyalty cards, software capability and merchant education to exceed each client's needs. Now serving more than 25,000 merchant locations nationwide, ProfitPoint produces over fifteen million cards per year and does more than 20 million stored value transactions on its proprietary gift and loyalty card platform. www.rewardforloyalty.com
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