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Spokane ecommerce company Etailz — formerly known as Green Cupboards — is listed No. 128 on Inc. magazine’s list of the 500 fastest-growing U.S. private companies.
It’s the only Spokane firm on that list. Eight other Washington companies were in the top 500, an annual ranking based on percentage of revenue growth covering 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 Higher Education Center.
“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 a spate of contacts from companies offering business services and some venture capital overtures. Etailz is not in the market for either, said Neblett.
“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, generating $25 million in sales this year.
The eight other Washington companies on the top 500 list are Level 11, a Seattle IT services company; HasOffers, a Seattle advertising and marketing firm; Spoken Communications, a Bellevue telecommunications provider; DiscoverOrg, a Vancouver business products and services provider; The Force Realty, a Bellevue real estate firm; Rooster Park, a Seattle software company; Add3, a Seattle-based advertising and marketing firm; and C2S Technologies, a Bellevue IT services company.
Level 11 had the highest Inc. ranking, at No. 22. It reported revenue growth of 9000 percent over the previous three years.
CNBC's Power Lunch will feature Josh Neblett, CEO and co-founder of Spokane green-retailer GreenCupboards on Wednesday (June 5) from 10 a.m. to 11 a.m. in the network's Power Pitch program.
In the segment, the hosts give Neblett 60 seconds to “power” pitch his e-commerce start-up.
After the pitch Neblett takes questions from a trio of inquisitors. The panel quizzing him includes CNBC host Julia Boorstin, BuzzFeed COO Jon Steinberg and Norwest Venture Parnters' Josh Goldman.
In advance of the broadcast, CNBC has uploaded Neblett’s 60 second GreenCupboards Power Pitch to CNBC.com. You can see it here http://cnb.cx/13D9RMq and let us know what you think of the pitch by voting if you're “in” or “out.”
Spokane's hot young ecommerce company Green Cupboards came close but didn't take home the top award in an annual tech awards contest last week in Seattle.
Sponsored by the Washington Technology Industry Association, the 2012 Industry Achievement Awards are presented to recognize bright and aspiring firms in the state.
Green Cupboards, which sells organic, “green” and eco-friendly items, lost out in the best early stage company category to Big Door, a Seattle firm that “gamifies” other company websites. Green Cupboards was started by seed money and a team of GU grads who conjured up the company idea during a Hogan Entrepreneurial Contest hosted by the school a few years ago.
No other East Side companies got any recognition in the achievement awards.