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Over 100 Austin businesses make Inc.'s top fastest-growing companies

(Pexels)

Austin companies are on a rapid success streak.


136 Austin-area companies made Inc.’s 5000 ranking of the fastest growing companies in America. In total, the companies generated $5.3 billion in revenue and added about 16,700 jobs. Local businesses on the list increased from last year when 111 companies secured a spot on the rank.

The crown for the best ranking of an Austin company goes to AdOutreach, which peaked at 60 for achieving a 6,052% growth rate. Founded in 2016, the company offers training and resources for using YouTube ads for business growth.

The company’s founder Aleric Heck celebrated its spot on the list that was released this week.

“From the Early Days working alongside my now COO Julia Gordy while we were both still in college, to our first office in Cambridge, MA, our move out to Austin, TX, our first $1 million month, growing our team to 50+ Team Members & Now Ranking in the Top 100 on the INC 5000 2 years in a Row... It has been such an Incredible Journey!” a LinkedIn post read.

Here are the first 10 to make an appearance on Inc.'s ranking:

  1. AdOutreach
  2. Webforce
  3. Homestead Brands
  4. Digital Thrive
  5. Everly Health
  6. Element 26
  7. Boostlingo
  8. Cover Desk
  9. Canopy Management
  10. OJO Labs

The annual list assigned ranks based on percentage revenue growth from 2018 to 2021. To qualify, companies had to earn a minimum revenue in 2018 of $100,000 and $2 million in 2021.

The number one spot went to BlockFi, a New Jersey-based company providing wealth management products for crypto investors.

Crypto saw popularity in Austin in recent years, a trend that led the capital city to become one of the highest-paying cities for a crypto career earlier this year. However, no crypto or blockchain companies in Austin made Inc.'s list and many in the industry have been managing the fallout of the crypto market crash this spring.

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With deposition and trial looming, Elon Musk has offered $44B for Twitter, again
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Elon Musk has proposed once again to buy Twitter for $54.20 a share.

The news that Musk is offering to carry on with the $44 billion buyout was first reported by Bloomberg. Now, a filing with the Securities and Exchange Commission shows Musk made the proposal in a letter to the tech giant on Monday.

The New York Stock Exchange temporarily halted trading in Twitter stock twice Tuesday, first because of a big price move and the second time for a news event, presumably the announcement of Musk's renewed offer.

While the per share offer price on this latest proposal remains the same as the original offer, it’s unclear if Musk has made other term changes or if Twitter would reject it. According to other reports, a deal could be reached this week.

The stock closed at $52.00/share Tuesday, indicating market uncertainty around the $54.20 offer.

After Musk informed Twitter of plans to terminate the original agreement in July, Twitter sued. A trial has been expected in Delaware Chancery Court on Oct. 17.

With the proposition of a buyout on the table again, it revives the question of whether Musk might move Twitter from San Francisco to Central Texas.

He’s done so with some of his other companies. Tesla’s headquarters in southeast Travis County had its grand opening earlier this year and tunneling business The Boring Company moved to Pflugerville. At least two other Musk companies, SpaceX and Neuralink, have a Central Texas presence without being headquartered here.

Technology journalist Nilay Patel this afternoon voiced concerns that owning Twitter and Tesla together could be problematic for Musk, as his Tesla manufacturing facilities in Germany and China are both in countries that have disputes with Twitter over content moderation and censorship.

Telsa shares fell after the Twitter news became public, before rallying to close up, at $249.44.