Magnetic Named Among Fastest Growing Companies Nationwide

TAMPA, Fla. – (September 21, 2009) – Inc. magazine unveiled its Inc. 500|5000 list today, recognizing top entrepreneurial companies across the country for exceptional growth over the past four years. Magnetic, a full-service Web development firm based in Tampa, earned a place on this list, whose previous honorees include Microsoft, Under Armour, Jamba Juice, Timberland, Intuit and Oracle.

Magnetic ranked 2,874 nationwide, thanks to a 98.5 percent growth in revenue over the past four years. This rate soundly outpaced the national average, placing Magnetic among the fastest growing businesses in the greater Tampa Bay area. Magnetic placed 35 on Inc. magazine’s regional list, which includes local metropolitan areas St. Petersburg and Clearwater

Ken Bakunas, CEO of Magnetic, credits the company’s success to the entire team’s dedication to maintaining a consistent vision. “At Magnetic, a commitment to quality and innovation shapes every aspect of the company. That has really inspired us to stay at the forefront of our industry, not only in design and development, but also in customer service and employee satisfaction,” said Bakunas.

Companies earned a place on the list by demonstrating outstanding revenue growth between 2005 and 2008. To qualify, companies had to have been found before the first week of 2000 while reporting at least $200,000 in income that year, and report at least $2 million in revenue for 2008. The list recognizes independent, for-profit, US-based companies that were privately held as of December 31, 2008.

Florida ranks 4th among states for having the most companies – 263 – on the Inc. list, beat only by California, Texas and New York, making it one of the hottest regions for fast-growing companies in the US. “We’ve been very impressed with the pool of talent here in Tampa, which has allowed us to expand our team of gifted design and development professionals, keeping our customers happy” said Bakunas.

The 28th Annual Inc. 500|5000 Conference and Award Ceremony will be held September 23-25, 2009 at the Gaylord National Resort and Conference Center in Washington, D.C. Since its inception in 1991, Inc. magazine has recognized the fastest growing entrepreneurial companies.

About Magnetic
Based in Tampa, Fla. and founded in 1997, Magnetic is a full-service web design and development firm that helps businesses reach their full web potential through strategic consulting, custom web design and development, e-commerce solutions, database integration, content management, systems integration, internet marketing and hosting. Named the 2007 Small Business of the Year by the Greater Tampa Chamber of Commerce, Magnetic offers both business and technical expertise to help medium- and large-size businesses achieve greater profitability and sales through the Internet. For more information on Magnetic, please visit www.magnetic.com.