Charlottesville, VA, Sept. 10, 2012 (GLOBE NEWSWIRE) -- Inc. magazine named WillowTree Apps to its 31st annual Inc. 500 list today, an exclusive ranking of the nation's fastest-growing private companies. WillowTree is ranked #479 with three-year growth of over 800%. Since 1971, the Inc. 500 has tracked America's fastest growing private companies and leading entrepreneurs.
Mobile App development is one of the bright spots in the economy today. According to TechNet companies in the mobile space have created nearly 500,000 new jobs since the iPhone was introduced in 2007 and Forrester says, combined revenues from mobile applications, services and business management will reach $54.6 billion a year by 2015.
"This year's Inc. 500 list validates what we are seeing every day--large companies and brands are turning to the leading mobile development firms in droves because there is huge interest in creating great customer experiences on the mobile devices that consumers are flocking to and engaging with all day long," said Tobias Dengel, CEO of WillowTree Apps. "We expect the growth in mobile apps to continue even faster in the next few years and expect more and more top app developers to appear on the list each year."
The 2012 Inc. 500, unveiled today in the September issue of Inc., is the most competitive crop in the list's history requiring companies to achieve a staggering minimum of 770% in sales growth to make the cut. The Inc. 500's aggregate revenue is $15.7 billion with a median three-year growth of 1,431 percent. The companies on this year's Inc. 500 employ more than 48,000 people and generated over 40,000 jobs in the past three years. Complete results of the Inc. 500|5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/500.
"Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is," says Inc. magazine Editor Eric Schurenberg.
Methodology
The 2012 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. They had to be U.S.-based, privately held, for profit, and independent--not subsidiaries or divisions of other companies--as of December 31, 2011. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2008 is $100,000; the minimum for 2011 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.'s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/500.
About Inc.
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today's innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com.
About WillowTree Apps, Inc.
WillowTree Apps is one of the largest and most respected mobile development companies in the US. The entire team of more than 30 people is located in its Charlottesville, VA headquarters. Nothing is outsourced overseas. The company's designers and developers are experts across the nuances of iPhone, iPad, Android, Windows Phone 7, Blackberry and mobile web/HTML5 design best practices. The company has been ranked The Top Worldwide Mobile App Developer by SourcingLine, The #3 iPhone App Development Company by BestWebDesignAgencies.com, and a two-time Webby Award Honoree. Notable clients and apps include Johnson & Johnson, the University of Virginia, Manta, Crutchfield Electronics, Valpak and Vox Media/SB Nation. More information at willowtreeapps.com.