StoreBoard Media Makes Inc. 500 List of Fastest-Growing Companies for Second Consecutive Year
Three-Year Growth of 1,229% Includes 133% Gain in Retail Network and 140% Boost in Monthly Advertising Impressions Delivered to Marketers
NEW YORK, Aug. 24, 2010 — StoreBoard Media, the largest indoor billboard network in the United States, has been named one of America’s fastest-growing private companies for the second consecutive year by Inc. magazine. StoreBoard Media’s placement on the Inc. 500 list is based on three-year revenue growth (2006-2009) of 1,229%.
During the same three-year period, StoreBoard expanded its retail network by 133% to nearly 14,000 stores, and the number of monthly advertising impressions delivered to marketers by 140% to 1.2 billion. StoreBoard attained this dramatic growth at a time when the advertising industry overall struggled to grow across most sectors.
The 29th annual Inc. 500 list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs. Companies such as Microsoft, Zappos, Intuit, GoDaddy, Under Armour, Jamba Juice, American Apparel, Oracle and hundreds of other powerhouses gained early exposure as members of the Inc. 500.
StoreBoard has more than 74,000 advertising panels in nearly 14,000 chain drug stores including Rite Aid, CVS, Duane Reade, USA Drug, Kerr Drug and Snyder Drug, as well as in Kmart store nationwide. Brands and companies that have advertised to date with StoreBoard Media include Cadbury, Coca Cola, Nestle, Kraft, Unilever, CBS Television, Wyeth, L’Oreal, Alberto Culver, Hershey’s, American Greetings, Schick and others.
“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.”
Doug Leeds, StoreBoard’s chief executive officer, said, “Our rapid growth can be attributed to a number of factors, but none more important that providing advertisers with something they really want and need: a powerful mass medium branding tool that reaches consumers as they are about to make purchase decisions. Our indoor billboards now deliver more than one billion gross impressions per month among these prime target consumers.”
The 2010 Inc. 500 was unveiled in the September issue of Inc. magazine (available on newsstands Aug. 24 to Nov. 16 and on Inc.com). 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 Dec. 31, 2009. The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million.
StoreBoard Media is ranked #251 on this year’s list.
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.
About StoreBoard Media
StoreBoard Media, America’s largest in-store billboard network, owns the rights to place its billboards on the security pedestals that are at the entrance to chain stores nationwide, including CVS, Rite Aid, Duane Reade, USA Drug, Kerr Drug and others, as well as Kmart stores across the country. StoreBoard’s indoor billboards generate more than one billion gross impressions every four weeks. StoreBoardTM advertising panels occupy approximately 60 square feet within each store, reaching 100% of shoppers. StoreBoards are a powerful mass medium that is “aisles away, not miles away” from point-of-decision. Positioned as a media buy, StoreBoards does not compete with other in-store media options for merchandising/trade dollars, creating an opportunity for retailers to capitalize on the branding value of their stores.
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