There are millions of companies in the world; some small, some large. Some of them are world-renowned while others operate nationally or locally. This article is all about the 20 fastest growing companies in the world.
The list of top 20 companies come from various sectors and some are very popular. You might have heard the names of a few companies, while some of them might be new to you.
The list is based on the 100 fastest growing companies in the world provided by Fortune.
List of 20 Fastest Growing Companies in The World
1. AppFolio
Revenue- $271 Million
Market Value- $4,805 Million
Annual Growth Rate- 34%
AppFolio is an American company established in 2006. It provides could based software solutions to real estate businesses. It is headquartered in California and founded by Klaus Schauser and Jon Walker. It is the fastest-growing company in the world according to Fortune.
2. Medifast
Revenue- $726 Million
Market Value- $1,899 Million
Annual Growth Rate- 44%
Medifast is a multi-level marketing company that primarily deals with nutrition and weight loss products. It utilizes marketing techniques like telemarketing, MLM, franchise weight loss clinics, and eCommerce.
It was founded in 1980 and headquartered in Maryland, United States. Some of the subsidiaries owned by the company include Jason Pharmaceuticals, OPTAVIA, etc.
3. Texas Pacific Land Trust
Revenue- $395 Million
Market Value- $3,506 Million
Annual Growth Rate- 87%
Texas Pacific Land Trust is a public sector company dealing with trading land trusts all over the United States. It came into existence in 1888, headquartered in Dallas, Texas. The company is considered to be the biggest private landowner in Texas state.
4. Medplace Holdings
Revenue- $891 Million
Market Value- $3,944
Annual Growth Rate- 32%
Medplace is a Cincinnati-based clinical research company that procures drug and medical device development. It was founded in 1992 and employs around 2,800 people. The current president and CEO of the company is Dr. August J. Troendle.
5. Netflix
Revenue- $21,403 Million
Market Value- $217,632 Million
Annual Growth Rate- 32%
Netflix is an internet giant that provides entertainment to people all over the world. Everyone in the modern world has used Netflix or watched movies on it. Netflix received recognition much later and was first established in 1997.
It is headquartered in California, United States. Its founders include Reed Hastings and Marc Randolph.
At present, Netflix has become extremely popular among adults and youngsters. Some of the most popular series on Netflix include Stranger Things, The Queen’s Gambit, and The Crown.
6. Vertex Pharmaceuticals
Revenue- $4,819 Million
Market Value- $70,407 Million
Annual Growth Rate- 32%
Vertex Pharmaceuticals is a biopharmaceutical company headquartered in Boston, Massachusetts. It is involved in rational drug design, not using conventional combinatorial chemistry. Founded in 1989 by Joshua Boger, the current CEO of the company is Reshma Kewalramani.
7. Kinsale Capital Group
Revenue- $324 Million
Market Value- $4,213 Million
Annual Growth Rate- 28%
Kinsale is an American insurance company headquartered in Richmond, Virginia. It was founded in 2009. Since then, it has been providing specialty insurance services focusing on the surplus lines market.
8. Etsy
Revenue- $877 Million
Market Value- $14,705 Million
Annual Growth Rate- 33%
Etsy is an eCommerce platform focusing on handmade and aesthetic products. It promotes handicraft and you can find things like jewelry, bags, accessories, clothing, wall-hangings, paintings, and everything in between. The company was established in 2005 in Brooklyn, New York. The current CEO of the company is Josh Silverman.
9. Paylocity Holding
Revenue- $551 Million
Market Value- $8,736 Million
Annual Growth Rate- 25%
Paylocity Holding is a US-based company providing could-based payroll services and HCM services to medium-sized organizations. It was founded in 1997. Some of the subsidiaries owned by the company include Samepage, VidGrid Inc., and Paylocity.
10. Amazon
Revenue- $296,274 Million
Market Value- $1,575,238 Million
Annual Growth Rate- 28%
If you are using the internet, you must have heard the name of or used Amazon at least once in your life. The American giant founded by Jeff Bezos in 1994 has taken over the world of eCommerce.
Started as a small eCommerce company mainly dealing with books, Amazon now deals with cloud computing, artificial intelligence, and digital streaming. Amazon is even a source of income to a large number of people.
You can work with Amazon in various programs to earn money. Some of the subsidiaries of Amazon include Audible, Amazon Prime, Zapple, Kindle Publishing, AbeBooks, Amazon Fresh, and so on.
11. Kemper
Revenue- $5,032 Million
Market Value- $4,377 Million
Annual Growth Rate- 29%
Kemper Corporation is an American company that provides insurance to a wide range of clients. Founded in 1990, the company employs around 9,400 employees as of 2020.
It provides insurance for businesses, individuals, and families. Some of the subsidiaries of Kemper Corporation include Alliance United Insurance Company, Kemper Direct, etc.
12. Malibu Boats
Revenue- $729 Million
Market Value- $991 Million
Annual Growth Rate- 44%
Malibu Boats is an American boat manufacturer. It is headquartered in Tennessee, United States, and was established in 1982. It employs nearly 600 people. Some of the subsidiaries of the company are Cobalt Boats, Pursuit Boats, Malibu Boats Holdings, and so on.
13. Corcept Therapeutics
Revenue- $335 Million
Market Value- $$2,028 Million
Annual Growth Rate- 53%
Corcept Therapeutics is essentially a pharmaceutical company involved in the development and commercialization of drugs that help in the treatment of psychiatric, metabolic, and cancer-related disorders. The company was established in 1998 and is headquartered in California, United States.
14. Alibaba Group Holding
Revenue- $73,166 Million
Market Value- $749,272 Million
Annual Growth Rate- 49%
Alibaba Group is a Chinese multinational company, headquartered in Hangzhou, China. Jack Ma, the 2nd richest Chinese businessman is the founder of Alibaba group. The company essentially deals with e-commerce, internet, retail, and technology.
Currently, the CEO of Alibaba Group is Daniel Zhang. Some of the subsidiaries of Alibaba Group include Alibaba.com, Daraz, Alibaba Cloud, Cainiao, etc.
15. Veeva Systems
Revenue- $1,196 Million
Market Value- $42,381 Million
Annual Growth Rate- 26%
Veeva Systems is a software company that offers cloud computing services to pharmaceutical and life sciences companies. It is a California-based company, established in 2007 by Peter Gassner and Matt Wallach.
16. Fortinet
Revenue- $2,261 Million
Market Value- $18,950 Million
Annual Growth Rate- 19%
Fortinet is a California-based American Multinational company dealing with cybersecurity solutions like anti-virus protection, firewall, intrusion prevention systems, etc.
It was established in 2000 by the Xie brothers. Initially, the company used to offer FortiGate as their main product. At present, the company also deals with wireless access points, sandboxing, message security, and so on.
Recently in 2020, Fortinet bought OPAQ Networks that deals with cloud-based services. Some of the products offered by the company include Fortinet Security Fabric, FortiGate UTM, FortiGate carrier, FortiWeb, FortiAnalyzer, to name a few.
17. Exelixis
Revenue- $979 Million
Market Value- $7,570 Million
Annual Growth Rate- 63%
Exelixis is a California-based company focusing on genomics drug discovery. The company also produces Cometriq, which is certified by the FDA for the treatment of Medullary Thyroid Cancer.
It was established in 1994 as a public sector company, founded by Corey Goodman and Spyridon Artavanis-Tsakonas. The company employs around 500 people that conduct research in Genomics in organisms like fruit flies, nematodes, and zebrafish.
The company also established an agricultural subsidiary called Exelixis Plan Sciences.
18. Paycom Software
Revenue- $780 Million
Market Value- $17,784 Million
Annual Growth Rate- 30%
Paycom is an online payroll company based in Oklahoma City, United States. It focuses on cloud-based payroll services and employs around 4,200 people. Forbes has ranked Paycom as one of the fastest-growing technology companies. It was founded by Chad Richison in 1998.
19. FMC
Revenue- $4,668 Million
Market Value- $13,645 Million
Annual Growth Rate- 27%
FMC Corporation is a US-based public sector company that deals with chemical manufacturing. The company was first established in 1883 by John Bean and employs around 7,000 people around the world.
It initially focussed on Insecticide production and now deals with other products like food chemicals and agriculture-based chemicals too.
20. Take-Two Interactive Software
Revenue- $3,089
Market Value- $18,790
Annual Growth Rate- 24%
Take-Two Interactive Software is a video game company, headquartered in New York. The company was founded by Ryan Brant in 1993. The company employs more than 5,800 people.
The company rose to fame in the internet era and is a prominent name in the mobile game market. Some of the most popular games by the company include Grand Theft Auto, BioShock, Civilization, Mafia, Red Dead, XCOM, and WWE 2K.
Some of the subsidiaries of the company include 2K, Ghost Story Games, NBA 2K League, Private Division, and Rockstar Games.
Conclusion
Almost all of the companies mentioned in this article are American. This is because American companies have better facilities and outreach. The people behind these companies are innovative and adapt to changes quickly.
This is the reason why all of them have emerged as the fastest-growing companies in the whole world.
