Written by Laycee Kluin
August 16, 2022
The company reported an average growth rate of 317% from 2019 to 2021—making it the 6th fastest-growing South Dakota company featured.
Sioux Falls, SD, August 16, 2022 – Inc. Magazine today revealed that MarketBeat, a leading source for stock market data and research tools, is No. 1909 on its 40th annual Inc. 5000 List, marking the seventh consecutive year MarketBeat is recognized alongside the fastest-growing, privately-held companies in the United States.
MarketBeat exceeded its annual revenue goal by $5.5 million last year and grew top-line revenue by nearly 75% over the previous year. The financial media company closed out 2021 with more than $25 million in annual revenue. As MarketBeat approaches three million subscribers in the next month, company executives expect revenue growth to continue despite challenging market conditions.
“Even with the S&P down 9% year-to-date and a much different business environment, MarketBeat continues to excel due to strong execution, the creation of new revenue streams, and its proprietary technology platform,” said MarketBeat Founder and CEO Matt Paulson.
“MarketBeat continues to innovate as we face the same economic headwinds others are experiencing with year-to-date declines in the stock market,” Paulson said. “During difficult market corrections, retail investors pay less attention to their stock portfolios and trade less often, and they aren’t using sites like MarketBeat as often as they do during a bull market. While traffic is noticeably down year-over-year, some of our industry partners are down 35-50 percent over 2021. In turn, we’ve excelled at maximizing ad revenue and anticipate growth to continue–even if the rate slows for the near term.”
As the business grows, so does the team behind MarketBeat.com. Marking its first and only turnover in company history last year, the company grew by three new team members in 2021 and welcomed two more in the first quarter of 2022.
With more growth on the horizon, the team is prepared to see more of it from its new headquarters in Cherapa II, a high-rise development under construction in downtown Sioux Falls. Since Paulson first started MarketBeat with a remote team, South Dakota’s largest digital media company has grown from conducting staff meetings in coffee shops to filling up its first office in the city’s center of commerce. Next year, that growth story continues as MarketBeat becomes a part of the Sioux Falls skyline.
In addition to MarketBeat, Inc. Magazine ranked Silencer Central, Weisser Distributing, and seven other South Dakota companies that collectively earned $274.4 million in total revenue with median growth of 340% and accounted for 224 jobs added to the state’s economy.
Methodology
The 2022 Inc. 5000 List is ranked according to percentage revenue growth when comparing 2019 to 2021. Companies must have been founded and generating revenue by March 31, 2018 to qualify. They also must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. The minimum revenue required for 2019 is $100,000; the minimum for 2021 is $2 million.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent.
About MarketBeat
MarketBeat is a financial media company with a mission to empower individual investors to make better trading decisions by providing real-time financial information and objective market research. Nearly 3 million investors receive MarketBeat’s flagship newsletter, MarketBeat Daily Ratings. MarketBeat also publishes a network of financial news websites, including insidertrades.com, pricetargets.com, and dividendstocks.com, which garner more than 15 million pageviews each month, a suite of web-based investment research software called MarketBeat All Access, and a mobile stock research app on iOS and Android. For more information, visit marketbeat.com.
