Asheville, NC August 16, 2022 – Inc. today ranked LoLo on its annual list of the 5000 fastest-growing private companies in the country. This marks the first time that LoLo has made the list. They accomplished it in their first year of eligibility with an impressive three-year growth rate of 347%.
This week the Inc. 5000 list for 2022 was revealed and LoLo was pleased to find themselves on the list. This marks the first time that LoLo has made the list. They accomplished it in their first year of eligibility with an impressive three-year growth rate of 347%.
“It’s an honor to appear among this list of great companies. We can attribute our success to our belief in putting people first. Our strategy involves taking great care of our clients and our team. Being ranked as the 1,770th fastest growing company is thanks to the devotion of our talented team who joined our mission of Keeping the Local Vibe Alive,” said Clark Harris, co-founder of LoLo.
LoLo is a relationship marketing platform that gives people an efficient way to stay engaged with their clients and contacts while supporting the local community. To date, LoLo and its clients have infused $2.2 million into local economies via LoLo’s Gift of the Month program which partners with local independent merchants. Originally a consumer rewards program designed to influence people to spend their money at local businesses, LoLo pivoted into a relationship marketing platform after collaborating with Beverly Hanks and Associates to help innovate their client engagement program. LoLo's Gift of the Month is now active in 98 markets across 38 states.
The past three years of growth did not come without its challenges as LoLo’s local merchant partners faced difficulties around staffing, inflation, and general economic uncertainty related to the pandemic and its effects on their business.
“So much of what we do depends on the resiliency of local businesses. We’ve been blown away by how strong and innovative our local partners are and give credit to all the hard work they put in the past three years to thrive and move forward,” said Matthew Simpson, co-founder.
The 5000 companies that made the list reported aggregate revenue of $317.2 billion and median three-year growth of 230 percent. Most importantly, the 2022 Inc. 5000 companies were engines of job growth, having created more than 1,178,302 jobs since those companies were founded. Complete results of the Inc. 5000, including company profiles and a list of the fastest-growing companies that can be sorted by industry and region can be found at ww.inc.com/inc5000/2022.
LoLo is a relationship marketing company dedicated to Keeping the Local Vibe Alive. Its primary program is the Local Gift-of-the-Month Campaign in markets across the country to help businesses maintain and nurture relationships. . To date, LoLo has worked with over 5,000 local merchant partners and delivered over 7 million gifts.
Inc. 5000 Methodology
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine’s September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.
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. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.