American business media company
Inc. is an American business magazine founded in 1979 and based in New York City.[3][4] The magazine publishes six issues per year, along with surrounding online and social media content. The magazine also produces several live and virtual events yearly.[5]
Published by Mansueto Ventures, Inc. is best known for its annual rankings of the fastest-growing privately held companies in the United States, called the "Inc. 500" and "Inc. 5000."[6]
History
Early years
Inc. was founded in Boston by Bernie Goldhirsh, and its first issue appeared in April 1979.The magazine was headquartered in Boston's waterfront on the India Wharf and relocated to NYC in the early 2000's.[7] Goldhirsh was an MIT-trained mechanical engineer who founded Sail magazine,[6] which he sold for $10 million in 1980.[6] Paul W. Kellam, who had joined Goldhirsh's company as editor of Marine Business, was one of Inc.'s first editors.[8] Goldhirsh kept a low profile, and George Gendron, who served as editor-in-chief from 1980 to 2002, was considered the "public face" of the magazine.
In October 1981, Inc. became the first magazine to feature Steve Jobs on its cover, alongside the proclamation, "This man has changed business forever."[9]
In 1982, the magazine began publishing its Inc. 100 ranking, which showcases the fastest-growing privately held companies in the United States, which later became Inc. 500.[10]
In 2000, Goldhirsh sold the magazine to German publishing house Gruner + Jahr[11] for a reported price of over $200 million.[8] In 2005, Joe Mansueto, founder of investment research firm Morningstar Ventures, bought Inc. and another business title, Fast Company, for about $35 million, forming publishing company Mansueto Ventures.[12]
In 2007, the magazine’s Inc. 500 list was expanded to the Inc. 5000 to include more fast-growing companies.[13][14]
2010-2020
In December 2013, Eric Schurenberg was appointed president and editor-in-chief of Inc.,[10] replacing the long-tenured Jane Berentson. In March 2018, Schurenberg was appointed CEO of Mansueto Ventures, and Ledbetter was promoted to editor-in-chief of Inc.[11]
Its current editor-in-chief is Scott Omelianuk, former editor-in-chief of This Old House magazine. He succeeded James Ledbetter in early 2020.[12][13]
In 2015, the Inc. 5000 Europe ranking was published.[15][16][17]
Inc. Uncensored podcast won the 2016 and 2017 min's Best of the Web Awards for Best Podcast, along with a 2018 Folio: Eddie & Ozzie Award honorable mention.[16]
Inc. received multiple Folio awards in 2017 and 2018, including honors for full-print issues, best redesign, use of video, and use of social media.[16] Its 2016 feature, "The Stealthy Sales Kings of Amazon", won a Best in Business award from the Society for Advancing Business Writing and Editing.[17]
Operations
Inc. is owned by Mansueto Ventures, Joe Mansueto’s company, which also owns Fast Company.[18]
Inc. focuses on entrepreneurship, startups, small businesses, and business growth. It provides insights, advice, special reports, and resources for business owners, entrepreneurs, and professionals in building their companies, as well as daily news on money, tech, and management.[19]
It publishes books under the imprint An Inc. Original in partnership with Greenleaf Book Group.[15]
Inc. produces a weekly, award-winning podcast called Inc. Uncensored, where Inc. journalists discuss startups, technology, market and industry trends, and more. The podcast has released hundreds of episodes and won the 2016 and 2017 min's Best of the Web Awards for Best Podcast, along with a 2018 Folio: Eddie & Ozzie Award honorable mention.[16]
Inc.'s office is at 7 World Trade Center in New York City.[20]
The magazine hosts several events, including the annual Inc. 5000 Conference & Awards Ceremony, which celebrates the Inc. 5000 and allows honorees, alumni, and other growth-minded entrepreneurs to learn and network.[21][22]
As of 2023, Inc. has 8 recognition programs: Inc. Best Workplaces, Inc. Best in Business, Inc. Regionals, Inc. Founder-Friendly Investors, Inc. Female Founders, Inc. Power Partners, Ignition Schools and Inc. 5000. Inc. Best Workplaces is an annual list compiled by Inc. magazine that recognizes US companies with exceptional workplace cultures. These rankings are based on aspects such as company culture, employee benefits, professional development opportunities, work-life balance, and overall employee satisfaction. It highlights organizations that prioritize their employees' well-being and foster a positive work culture.[23][24] The magazine also presents an annual Inc. Best in Business Award to the companies that have made an extraordinary impact in their fields and on society in the past 12 months. The winners are selected from a wide array of categories. Inc.’s editors assess the impact a company has achieved over the year, both in its industry and on a social level. Honorees chosen by Inc. appear in its Winter issue and featured on the Inc. website.[25][26] Inc. Regionals, is an extension of the Inc. 5000 and rankings of the fastest-growing companies in a particular region of the US: Pacific, Southeast, Northeast, Southwest, Midwest and Mid-Atlantic.[27] Inc. Founder-Friendly Investors is a published list of founder-friendly private equity firms and venture capital firms in America. Inc. Female Founders list recognizes women entrepreneurs. Inc. Power Partners recognizes the companies in the B2B field, and Ignition Schools is devoted to academic institutions, universities, and colleges.
Editors-in-chief
- George Gendron — 1980–2002
- John Koten — 2002–2005[28]
- Jane Berentson — 2005–2012
- Eric Schurenberg — 2012–2018
- James Ledbetter — 2018–2019
- Scott Omelianuk — 2020–present[29][30]
Inc.500
In April 1979, the inaugural issue of Inc. featured the 'Inc. 100,' a list of the fastest-growing, publicly held small companies. By 1982, this list had expanded to the 'Inc. 500,' ranking companies based on their overall revenue growth over a three-year period. The top 500 companies are featured in the September issue of Inc. magazine each year, highlighting their significant growth and achievements in the private sector of the United States.[31][32][33]
Inc.5000
Inc. 5000 was first presented in 2007, expanding the Inc. 500. It lists the 5,000 fastest-growing private companies in the U.S. This list ranks these companies based on their revenue growth rate, defining revenue as gross revenue minus returns and allowances, excluding the cost of goods sold. It categorizes the fastest-growing companies by industry, metro area, revenue, and number of employees, with special highlights for women and minority-run businesses.[34]
To be eligible, privately owned companies must demonstrate three years of revenue growth. Once included in the Inc. 5000, these companies are invited to a three-day Inc. conference. While all 5,000 companies are profiled on Inc.com, only the top 500 gain the spotlight in the September issue of Inc. magazine.[34]
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