Property Solutions Listed among America's Fastest-Growing Companies Two Years in a Row
August 24 2010
Multifamily software provider ranks 348 on the Inc 500 with a three-year sales growth of 842.5%.
New York, August 24, 2010 --Inc. magazine today ranked Property Solutions International, Inc. no. 348 on its 29th annual Inc. 500, an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy --America's independent-minded entrepreneurs. Property Solutions is one of eighty-four companies returning to the list for the second time.
"Fast growth at any time is a big achievement; fast growth during the past few years is just short of miraculous," said Inc. editor Jane Berentson. "The Inc. 500 consists of these just-short-of miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees, and grown fast in difficult economic times."
"It's an honor to see our hard work recognized for the second year," said Property Solutions President Ben Zimmer. "We feel that our position among the nation's fastest-growing companies is a reflection of the skill and dedication of our remarkable team."
Property Solutions was founded in 2003 by Zimmer and Property Solutions CEO David Bateman after winning a national MBA business plan competition sponsored by Fortune Small Business. Today, Property Solutions is the nation's largest provider of website portals and payments for the multifamily industry.
The 2010 Inc. 500, unveiled in the September issue of Inc. magazine is a group of companies that are smaller but much faster-growing than last year's crop. Aggregate revenue is $11.3 billion --down from last year's $18.4 billion-- but median three-year growth is 1,231 percent, substantially up from last year's 880.5 percent. The companies on this year's list employ more than 45,000 people.
The 2010 Inc. 500 is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. 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. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million.
About Property Solutions
Founded in 2003, Property Solutions International, Inc. is the nation's largest provider of apartment community websites and a leading developer of innovative property management software tools. The company offers a variety of web based and mobile solutions for leasing, rent collection, and maintenance request processing. Property Solutions' web portals and electronic payment processing tools offer the advantage of full data integration with most widely-used property management software packages. For more information, go to www.propertysolutions.com.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 712,647, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at www.inc.com.