New York—In an era were even a 1% change in sales can wreck havoc on a company’s stock, can you imagine a 40,882% increase?
Just such a three-year increase occurred at flash website ideeli.com, which skyrocketed the company to Inc. magazine’s 30th annual listing of the nation’s fastest growing companies.
Ideeli, which posted sales of $77.67 million in 2010, offers its 4.5 million members “Groupon-type sales” in apparel and accessories starting noon each day, every day of the week.
Paul Hurley, ceo, told Inc. that the company is “constantly fine-tuning its strategy based upon consumer feedback.” Recently, ideeli began offering twice monthly plus-size sales which had “an overwhelmingly positive response.”
“We are providing consumers more than just clothes on a rack; users expect more,” Hurley said. “They want to be entertained, they want to know what’s trending and they want curation.”
The September issue of Inc. features the full list of the Inc. 500 and the story behind ideeli’s growth. Companies such as Microsoft, Zappos, Intuit, Jamba Juice, Zipcar, Clif Bar, Vizio, Oracle, and many other well-known names gained early exposure as members of the Inc. 500. www.ideeli.com.