Wednesday, February 6, 2008

Forbes names Red Hat America's 11th fastest-growing company

I enjoy hearing various business pundits claim the open source model is flawed and can't bring in revenue. Pundits, explain these two facts about Red Hat, a company with an open source model:
  • Buisness 2.0 named Red Hat the second fastest growing tech company in 2006, ahead of apple, Microsoft etc...
  • Forbes has just named Red Hat the 11th fastest growing tech company in America.
This from CNet:

I wouldn't mind being in a list with companies like Google and, which is precisely the company Red Hat is keeping in its continued growth trajectory. Forbes just named Red Hat the 11th fastest-growing company in the United States. Red Hat's sales have grown 41 percent over the past five years.

Not too shabby.

It's particularly impressive when you consider the hurdles a company has to overcome just to be considered for the list:

Our focus is on sales growth--we require at least 10% annualized sales gains over the past five years--but candidates for our list must be profitable over the past 12 months and have Thomson IBES consensus earnings forecasts of at least 10% annualized earnings growth over the next three to five years.

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