Spokane company Etailz listed by Inc. magazine for fast growth
Spokane e-commerce company Etailz – formerly known as Green Cupboards – is listed No. 127 on Inc. magazine’s list of the 500 fastest-growing U.S. private companies.
It’s the only Spokane firm on the list. Eight other Washington companies were in the top 500, an annual ranking based on percentage of revenue growth for 2010 through 2012.
After acquiring the online retail firm ecoMom earlier this year, Green Cupboards was renamed Etailz.com. The new name better describes the wider range of products offered beyond the “green eco-friendly” inventory developed by Green Cupboards, said CEO Josh Neblett.
The Inc. listing says Etailz generated sales of $13.1 million in 2012 and was enjoying a three-year growth rate of 2,898 percent.
It currently has 72 employees and is based in the McKinstry Innovation Center near the Riverpoint campus.
“It’s a cool thing to be included and to have a page featuring us,” Neblett said. “But it’s not something we spend a lot of time thinking about. We’re more focused on what’s next and what we’re doing now,” he added.
The recognition generated contacts from companies offering business services and some venture capital overtures. Etailz is not in the market for either, Neblett said.
“We’re not trying to raise any (venture capital) money. Even so, it’s always good to talk to someone about that. You always learn something,” he said.
He predicted privately held Etailz would likely double 2012’s revenue this year, generating $25 million in sales.
The eight other Washington companies on the list are on the West Side.
Seattle IT services company Level 11 had the highest ranking, at No. 22. It reported revenue growth of 9,000 percent over the previous three years.