Schiller Park IL – August 27, 2007 – Popcorn Palace, Illinois-based online purveyor of gourmet popcorn, announced today that the company has been named to the 2007 Inc. 5000 list of the fastest growing companies in North America. Popcorn Palace was ranked No. 78 on the list of Top Companies in Chicago-Naperville-Joliet, IL-IN-WI, and experienced a three year growth rate of 138 percent.
The company, which was ranked No. 65 in the Top Companies in Food and Beverage, attributes much of its growth to its corporate gift-giving business. Not only do large companies choose their popcorn products as gifts, but those who receive the gifts often become Popcorn Palace customers themselves.
"The Inc. 5,000 provides the most comprehensive look ever at the most important part of the economy - the entrepreneurial part," said Inc. 5,000 Project Manager Jim Melloan. "The expansion of the list has allowed us to tell the stories of larger companies, older companies, and a wealth of companies in industries that are underreported in the business media."
"We’re proud to be named to the Inc. 5000 list," said Popcorn Palace founder, Tim Heitmann. "And we’re thrilled to be recognized as a vibrant company in the region.
The 2007 Inc. 5,000 reported median revenue of $9.4 million and median three-year growth of 140 percent. The 2007 Inc. 5000 list measures revenue growth from 2003 through 2006. To qualify, companies had to be U.S.-based and privately held, independent not subsidiaries or divisions of other companies as of December 31, 2006, and have had at least $200,000 in revenue in 2003, and $2 million in 2006.
Palace Popcorn Palace makes, sells, and ships 27 varieties of gourmet popcorn to consumer and corporate gift-givers nationwide. The popcorn, offered on the internet at www.popcornpalace.com and via mail order catalog, is made entirely by hand using small-batch processing and is drop-shipped the same day. More information is available at www.popcornpalace.com.
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