iboats, inc., ranked 48th on Inc.’s fastest growing list

SALT LAKE CITY – iboats, inc., has been ranked No. 48 on Inc. magazine’s Inc. 500 List of America’s Fastest Growing Privately Held Companies, achieving the highest ranking of any marine products company, iboats.com reported in a press release today.

iboats, inc., was the third highest ranked e-commerce retail company on this year’s list as a result of its four-year revenue growth of 2,061 percent, the company said.

For the first time in its annual issue, Inc. magazine also chose to prominently feature six of this year’s 500 fastest-growing private companies. iboats was the first one of those featured, with three full-pages of photos showing the owners boating at Utah’s Bear Lake in Utah.

Focusing on companies like iboats that started in late 1998 or in 1999, Contributing Editor John Case writes in this year’s issue, “By rights, there should be no companies on this year’s Inc. 500 that were founded in 1999. None. Zero. Consider the double whammy faced by companies that were start-ups in the last bubble year and are now eligible for the Inc. 500 for the first time,” “Whammy No.1: getting started at the height of the boom.” ”Whammy No. 2: surviving the recession, which hit in March 2001.”

“This prestigious achievement honors all of our employees, our suppliers and partners and is the direct result of their dedicated contributions to our company and to going the extra mile in serving millions of boating customers,” said Bruno Vassel III, president and CEO of iboats, inc. “This honor also confirms our success online in building and executing a financially viable, consumer-friendly e-commerce model that supports all boating, fishing and water-sports enthusiasts, without our having taken any venture capital money.”

The Inc. 500 Issue will appear on newsstands over the next few days and will also be found online at www.inc.com as of Oct. 20.

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