Four cannabis-related firms – including Marijuana Business Daily – have been named to Inc. magazine’s annual list of the 500 fastest-growing private companies in the nation, yet another indication of how legitimate the MJ trade has become.
The marijuana businesses on the Inc. 500 list, which appear alongside companies in mainstream industries, are involved in diverse areas of the cannabis sector:
- Seattle-based Leafly, which provides listings and reviews of cannabis retailers and strains, ranks No. 76, posting a 3,860.7% surge in revenues over the past three years.
- Johnston, Ohio-based Apeks Supercritical, which makes extraction equipment for marijuana companies, ranks No. 236 with a 1,662.4% increase in revenues. Apeks also made the list last year, when it ranked 24th.
- Denver-based Marijuana Business Daily – which provides industry news, hosts large cannabis business events and publishes market research reports – came in at No. 302, recording a 1,288.2% spike in revenues over the past three years.
- Tucson, Arizona-based GrowersHouse.com, a hydroponics supply and indoor gardening center with a physical and online store, ranks No. 313, posting a 1,232.9% jump in revenues over the past three years.
Inc. magazine released the rankings – which are a subset of the larger Inc. 5,000 list – today.
“There are so many cannabis entrepreneurs working hard every day to make their businesses successful,” said Cassandra Farrington, CEO and co-founder of Marijuana Business Daily.
“Recognition in the Inc. 500 list is a testament that the hard work of advancing this industry is paying off. I’m confident that future years will showcase even more cannabis companies – and deservedly so.”
The top spot on the Inc. 500 goes to Los Angeles-based Loot Crate, which delivers a monthly themed “mystery” crate to customers. It saw revenues grow a whopping 66,788.6% over the past three years.
Rounding out the top five: Massachusetts-based Paint Nite, California-based CalCom Solar, Indiana-based eLuxurySupply.com, and Georgia-based Company.com.
Last year Denver-based Kush Bottles, a cannabis industry packaging company, also made the list.