Denver Business Journal recently announced its 2020 Fast 50/Colorado Inno on Fire Finalists, recognizing AppIt Ventures and many other Denver-local companies. The Fast 50/Colorado Inno on Fire Finalists are companies that have met the below qualifications and have been individually nominated as one of metro-Denver's fastest-growing, privately held companies.
The Fast 50 Finalists were nominated and had to submit three full years of revenue for audit while meeting the following criteria:
The company must be privately held, locally owned and for-profit.
It must be headquartered in the seven-county Denver-metro region (Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas or Jefferson counties).
It must have a three-year sales history (fiscal years 2017, 2018 and 2019) with revenue gains from 2017 to 2019.
It must have an average of at least $1 million in sales for the three most recent years, with no year less than $200,000.
DBJ's Fast 50 accounting partner, BDO (formerly ACM), audited all company financial data. Qualifying companies were ranked within size categories to ensure maximum competition:
Extra-Small: Companies with $1 million to $3.59 million in annual revenue
Small: Companies with $3.6 million to $8.9 million in annual revenue
Medium: Companies with $9 million to $15.9 million in annual revenue
Large: Companies with $16 million to $74.9 million in annual revenue
Extra-Large: Companies with $75 million or greater in annual revenue