Boom Time: Four Cannabis Companies Among Elite Inc. 500 List

Thursday, September 29, 2016

Inc. magazine has named four cannabis companies in its annual list of the 500 fastest-growing private companies in the country. The rankings include companies in mainstream industries and are a subset of the Inc. 5000 list.

  • Of the fastest-growing cannabis businesses, Leafly came out on top at number 76. One of the big names in online cannabis information, Leafly provides listings and reviews of strains and dispensaries, as well as knowledge-based cannabis resources. A Seattle-based company, Leafly has had a 3-year growth of 3,861% and a 2015 revenue of $8.5 million.
  • Apeks Supercritical designs, engineers, and manufactures botanical oil extraction systems utilizing subcritical and supercritical CO2. They’re ranked number 236, with a 3-year growth rate of 1,662% and a 2015 revenue of $12.1 million.
  • MJBizDaily ranked number 302. A Denver-based publication for medical and recreational marijuana business news and market research, and cannabis-related events. MJBizDaily saw a 3-year growth of 1,288% and a 2015 revenue of $7 million.
  • Last but not least at number 313 is Tucson-based The company is a hydroponics supply and indoor gardening center with a physical as well as online store. In the past 3 years, GrowersHouse has seen an increase of growth at 1,233%. 2015 revenue was 17.3 million.

The inclusion of cannabis companies on the list is an indication that the industry is becoming more mainstream. Cassandra Farrington, co-founder and CEO of MJBizDaily, said,”While being recognized by the Inc. 500 is an honor in and of itself, this means so much more for the marijuana industry in the larger landscape. It is yet another marker to the rest of the world that this is a serious, professional business.”